Vitamins and minerals, or micronutrients, are necessary for a wide range of physiological processes, such as neurometabolic control, immunological response, antioxidant defense, and enzyme activity. Multivitamin/multimineral (MVM) supplements are increasingly being used to improve general health and close alleged dietary shortfalls. In this overview, the data supporting the possible advantages of MVM supplements is examined. These benefits include boosting micronutrient status, supporting cognitive health, enhancing immunological and metabolic processes, improving mother and child health, and potentially lowering the risk of certain chronic illnesses. According to evidence, in those with higher demands or insufficient nutritional consumption (such as pregnant women, older persons, and those following restricted diets), MVM supplementation has the potential to significantly enhance immune-related outcomes, cognitive function, and nutritional biomarkers. Large-scale studies conducted on populations that are generally healthy and well-nourished, however, reveal little to no effect for significant outcomes like death or cardiovascular disease. Consequently, MVM supplements are not a replacement for a nutrient-rich diet and healthy lifestyle, even though they might be a helpful adjunct in certain situations. Future studies should identify the people that benefit the most, as well as the best formulations, dosages, timings, and long-term impacts.