Abstract
Microalgae are a rich resource of lipids, proteins, carbohydrates and pigments with nutritional and health benefits. They increasingly find use as ingredients in functional foods and feeds as well as in cosmetics and agricultural products including biostimulants. One of their distinct advantages is their ability to grow on wastewaters and other waste streams, and they are considered an environmentally friendly and cheap method to recover nutrients and remove pollutants from the environment. However, there are limits concerning their applications if grown on certain waste streams. Within, we collate an overview of existing algal applications and current market scenarios for microalgal products as foods and feeds along with relevant legislative requirements concerning their use in Europe and the United States. Microalgal compounds of interest and their extraction and processing methodologies are summarized, and the benefits and caveats of microalgae cultivated in various waste streams and their applications are discussed.