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Currently, food in Mexico is an essential strategy to prevent diseases due to their high frequency, such as diabetes and obesity, caused by poor nutrition. Because of technological innovations, conventional foods have been changed into functional foods with nutritional added value and great benefits to health. Similarly, nutraceuticals have transformed the market as they are ingredients or bioactive compounds from natural sources that are used as food supplements in the diet. These products are intended to preserve health, prevent and treat diseases, and improve the standard of living. The aim of this review paper is to provide the necessary information about the potential of nutraceuticals and functional foods in the health of Mexicans, as well as their current situation, innovations, regulations and perspectives in Mexico to break down the barriers of misinformation about them and to elucidate their differences.