We study the one-dimensional spin-1/2 Heisenberg chain with competing ferromagnetic nearestneighbor J1 and antiferromagnetic next-nearest-neighbor J2 exchange couplings in the presence of magnetic field. We use both numerical approaches (the density matrix renormalization group method and exact diagonalization) and effective field-theory approach, and obtain the ground-state phase diagram for wide parameter range of the coupling ratio J1/J2. The phase diagram is rich and has a variety of phases, including the vector chiral phase, the nematic phase, and other multipolar phases. In the vector chiral phase, which appears in relatively weak magnetic field, the ground state exhibits long-range order (LRO) of vector chirality which spontaneously breaks a parity symmetry. The nematic phase shows a quasi-LRO of antiferro-nematic spin correlation, and arises as a result of formation of two-magnon bound states in high magnetic fields. Similarly, the higher multipolar phases, such as triatic (p = 3) and quartic (p = 4) phases, are formed through binding of p magnons near the saturation fields, showing quasi-LRO of antiferro-multipolar spin correlations. The multipolar phases cross over to spin density wave phases as the magnetic field is decreased, before encountering a phase transition to the vector chiral phase at a lower field. The implications of our results to quasi-one-dimensional frustrated magnets (e.g., LiCuVO4) are discussed.