Although evidence of antidiabetic affects various trace elements, chromium has existed for more than a century, there has been a sudden increase in therapeutic use of these elements in the prevention and treatment of diabetes-induced complications. This is because of two reasons. First, there has been an increased awareness about health management through the use of micronutrients. Second, effective and safe pharmaceutical formulations of trace elements have been developed and are now available. The molecular mechanisms of action are relatively clear for the trace elements. Chromium was known earlier as the “glucose tolerance factor” (GTF). With alteration in insulin levels, it is transported from the bloodstream to insulin-sensitive cells through the iron-transport protein transferrin. On reaching the site, it is sequestered by apochromodulin, a molecule with a high binding affinity for chromic ions. The resulting holochromodulin (Cr4-chromodulin) then interacts with the insulin-stimulated insulin receptor and amplifies insulin signaling. Insulin influences the recycling of transferrin receptors to the plasma membrane and, through internalization, releases chromium in the acidic environment of newly formed vesicles, thereby leading to chromium transport from the blood to insulin-sensitive cells, involving chromodulin. Among various compounds and formulations for chromium picolinate, it has emerged as a potential micronutrient trace element commonly used for the prevention and treatment of diabetes and associated cardiovascular and renal complications. Today, the chromium picolinate market is projected to reach USD 368.92 billion by 2032, exhibiting a CAGR of 3.41% during the forecast period, and this has been due to rising health consciousness for dietary supplements.