Microalgae are increasingly recognized for their potential in the food sector due to their rapid growth and rich content in proteins, carbohydrates, and pigments. The extraction of pigments from microalgal biomass holds promise for their utilization as natural colorants and antioxidants. To address the economic challenges associated with microalgae cultivation, particularly high nutrient costs, this study focused on cultivating Chlorella vulgaris in a mixture of food industry wastewaters (brewery wastewater, expired orange juice and cheese whey). This resulted in a microalgae-bacteria consortium with a concentration of 2.2 g·L−1 dry weight after 5 days of cultivation. The wastewater bioremediation ranged between 23 and 77 %, and the produced microalgae biomass contained 21.68 ppm lutein, 36.47 ppm a-chlorophyll and 11.19 ppm b-chlorophyll. The extraction process employed a solvent screening strategy with food industry-accepted solvents used to extract high-value compounds efficiently. Ethanol was the most effective solvent, outperforming acetone, ethyl acetate, and hexane. An upscaled extraction process was conducted using 10 g lyophilized microalgae. After ethanol evaporation, the microalgal extract was re-diluted in sunflower oil and encapsulated in alginate beads, achieving an encapsulation yield of 93.3 %. Lutein, identified as one of the main compounds in the extract, exhibited a satisfactory encapsulation efficiency of 55 %. The efficient encapsulation of the microalgae components in alginate beads was verified by the alteration of the colorimetric parameters of these alginate beads compared to those loaded with pure sunflower oil as well as empty beads. These findings highlight the potential of microalgae as a valuable tool for transforming food industry wastewater into high-value products, especially when microalgal extract is encapsulated in alginate beads. This strategy presents substantial prospects for the food industry, merging effective wastewater valorization with biomass production and bioactive compound extraction. It exemplifies a circular bioeconomy, showcasing sustainable resource management and value creation.