Piquin pepper fruits, a semi-domesticated wild pepper species highly valued in Mexico, currently face the threat of unsustainable harvesting practices that endanger the species. For this reason, it is necessary to establish sustainable agricultural practices for the cultivation of these peppers. Solar radiation, a critical determinant in crop production, plays a crucial role in plant development, influencing a spectrum of physiological and morphological processes, including the synthesis of phytochemicals. Our study evaluated the effect of light manipulation through colored shading nets on the phytochemical profile, antioxidant capacity, and fruit quality of semi-domesticated piquin peppers at two maturation stages: immature and mature (green and red fruits). Our hypothesis posits that these shading treatments may induce changes in these fruits’ phytochemical composition and antioxidant properties, as well as quality. Our results indicate that the shading treatments and maturity stage have significant on capsaicinoid and carotenoid levels, with the highest levels observed in mature fruits. Notably, red fruits grown under black shading treatments resulted in the highest capsaicinoid levels. Carotenoid levels were higher in the black shading treatment during the first cycle, while in the second cycle, the blue shading treatment showed elevated carotenoid levels, suggesting that high irradiance conditions could reduce carotenoid contents. Although no significant differences were observed among the treatments in green fruits, in red fruits, both black and blue treatments exhibited the highest total phenolic compounds in both production cycles. Furthermore, the antioxidant capacity revealed that red fruits exhibited higher antioxidant levels than green fruits. Color analysis showed that red fruits had higher chroma and hue angle values, indicating their brighter and more intense red color than green fruits. The morphological changes in fruit width, length, and weight can be attributed to shading treatments and maturation stages. These results indicate the potential of piquin peppers to act as rich sources of bioactive compounds, emphasizing the benefits of shading as an effective strategy to improve the quality and quantity of phytochemical compounds in piquin peppers. Our findings provide substantial insights into the intricate relationship between maturation, shading treatments, and phytochemical composition, offering a path to improve the nutritional value and quality of piquin peppers.