This review provides a complete overview over a spectrum of areas where value-added applications of algae are in sight, from conventional food, feed, dietary supplement, and cosmetics to novel technologies for environmental and biofuel applications.

In most cases macro- and microalgae are discussed separately due to their inherent differences from cultivation. Comparison of various cultivation systems are made in relation to specific value-added products. The potential uses of algal biomeal, the sizable waste stream generated after extraction of targeted compounds such as eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) from the biomass of cultivated microalgae, are also discussed based on the concept of waste-recovery and biorefinery.

The article presents some promising patents on potential industrial applications of macro- and microalgae.