Spices are high-value, low-volume, export-oriented crops that are frequently used to season and flavour food and drink. Despite the wide range of phytochemicals found in spices, the nutraceutical preparation of these plants frequently centres on a few key bioactive metabolites. With its numerous physiological effects, curcumin in turmeric, capsaicin in chillies, piperine in black pepper, [6]-gingerol in ginger, and saponin in fenugreek are all extremely helpful in medicine. The term spiceutical is gaining momentum among major spice-processing industries of the country. Scientific and technological progresses are undoubtedly key factors in obtaining quality-improved spices derived from innovative technologies, which have remarkable potentialities. The strategies outlined here to develop next-generation spices for nutraceuticals are intended to change the face of spice research in the days to come because it is in line with needs. Genetic control over quality characteristics makes it possible to successfully improve genotypes through breeding methods in spices. Spice quality criteria can be improved with the help of modern biotechnological intervention combined with traditional breeding methods. The whole genome and transcriptome-based approaches have shown to be more effective than earlier techniques and are quickly taking the lead in NGS research on spices. Certain nutraceutical substances’ underlying metabolic pathways and important genes can be better understood by applying the functional genomics/metabolomics method. A system biology approach will help plant breeders create nutraceutical cultivars that will enhance human health in general. The success of this endeavour would be dependent on the partnerships between governmental and private crop breeding institutions and human health research organizations.