Algal technologies have advanced significantly over the past few decades. Biopharmaceuticals, nutraceuticals, animal feed, and renewable energy are among the applications of microalgae that have recently attracted significant attention worldwide. In addition to their use in modern agriculture, the fascinating group of organisms can also be used in human health, as food additives, as they facilitate nutrient availability. In recent studies, algal biomass was demonstrated to be beneficial in sequestering CO2. A variety of wastewater and industrial effluents have been demonstrated to produce algal biomass. However, because of its high productivity and potential for accumulating significant amounts of lipid, microalgae initially caught the eye of scientists as a renewable source of biofuels. By modifying cultivation conditions, harvesting, and extracting value-added products, an algal biofuel economy is being developed. All value-added products can be extracted from algal biomass more efficiently and environmentally friendly by utilizing a complete biorefinery approach. This review highlights potential research and development areas for microalgae biotechnology.
