Background: Wheat is the most vital staple food; as far as worldwide production and utilization are concern, it gives roughly 55% of the starches and over 20% of the food calories. It tends to be ground into flour for planning different processed nourishments, including bread, pasta noodles, and other food items. These wheat-based nourishments will keep on being a significant segment in modern diets. Pigmented wheat contains a significant quantity of anthocyanins and carotenoids that are principally situated in the external aleurone layer. Food technologists, professionals, scientistic, and food processing enterprises are attempting to limit the use of synthetic and artificial food colorants and dyes. Scope and approach: The current review paper principally focuses on the chemistry and functions of pigmented and non-pigmented wheat grain bioactive compounds, techniques for extraction, identification, and characterization as well as the application of pigmented and non-pigmented flour and its application for functional and nutraceutical food products. Key findings and conclusions: The consumers demand has changed from an energy providing diet to an eating routine with a decent supplement profile along with metabolic, physiological, and useful medical advantages. They are looking for colorants derived from common sources to upgrade the wholesome and cell reinforcement estimation of nourishments. Pigmented wheat (Triticum aestivum) contains numerous phytochemicals, liable for various medical advantages like obesity, type-2diabetes, cardiovascular disease, and cancer.