Nutraceuticals have emerged as an alternative for the prevention and treatment of several acute and chronic illnesses. Moreover, they are considered natural and safe that promote health and quality of life. The global market of nutraceuticals and dietary supplements is growing rapidly due to their beneficial properties, awareness among the consumers, and acceptance of the products. The herbal constituents form a potent remedial compound that act as a solo performer against the disease or disorder. The action potential of nutraceutical depends on the physical and chemical properties of the active ingredients that include solubility, bioavailability, surface area, site-specific targeting, etc. However, the consistency of the constituents of nutraceutical products varies from country to country due to lack of regulatory bodies in this field. These factors pitch a great challenge for nutraceutical formulators. An enormous research is going on to circumvent these obstacles and improve the consistency and efficacy of the nutraceuticals. Nowadays, the association of nanotechnology and nutraceutical is being explored thus, resulting in nano-formulations. Several new nutraceutical formulation designs such as nanoparticles, nanosuspension, nanoemulsion, and encapsulation have proven to be transformative in this arena. The concept of formulation and evaluation of nutraceuticals and nanonutraceuticals have been discussed here.