For a wide range of people, including malnourished adults with non-communicable diseases (NCDs), micronutrient deficiency, underweight and overweight people, pregnant and lactating women, and adolescents, the current research aimed to present innovative nutraceutical formulations devoted to improving the quality of life (QoL) while promoting health. The novel nutraceutical formulations were structured on a scientific basis with evidence-based health benefits, with daily values (DVs) according to the Food and Drug Administration (FDA), containing a high-quality whey protein concentrate (WPC 70%), skim milk powder (SMP 34%), vitamins (folic acid, B12, C), minerals (iron, zinc), natural flavors (vanilla, cinnamon, coffee, chocolate), and stevia leaf extract sweetener. The novel formulations were subjected to the physicochemical, microbiological, and sensory evaluation. The results showed significant differences (P<0.05) among formulations with natural flavors added in different amounts to provide 10 g of protein (20% DV), elemental iron and zinc, vitamin C, folic acid, and vitamin B12 (25% DV), with elemental calcium (20% DV) emerged from milk derivatives. The serving sizes of the four formulas were different according to the difference in the amount of natural flavor while keeping the same amounts of the other ingredients. Following the chocolate-flavored formulation as the first in order of overall acceptability, were coffee, cinnamon, and vanilla-flavored formulation, according to the sensory evaluation.