This review comprehensively examines the various applications of microalgae, focusing on their significant potential in producing biodiesel and hydrogen, serving as sustainable food sources, and their efficacy in treating both municipal and food-related wastewater. While previous studies have mainly focused on specific applications of microalgae, such as biofuel production or wastewater treatment, this review covers these applications comprehensively. It examines the potential for microalgae to be applied in various industrial sectors such as energy, food security, and environmental management. By bridging these different application areas, this review differs from previous studies in providing an integrated and multifaceted view of the industrial applications of microalgae. Since it is essential to increase the productivity of the process to utilize microalgae for various industrial applications, research trends in different microalgae cultivation processes, including the culture system (e.g., open ponds, closed ponds) or environmental conditions (e.g., pH, temperature, light intensity) to improve the productivity of biomass and valuable substances was firstly analyzed. In addition, microalgae cultivation technologies that can maximize the biomass and valuable substances productivity while limiting the potential for contamination that can occur when utilizing these systems have been described to maximize CO2 reduction. In conclusion, this review has provided a detailed analysis of current research findings and technological innovations, highlighting the important role of microalgae in addressing global challenges related to energy, food supply, and waste management. It has also provided valuable insights into future research directions and potential commercial applications in several bio-related industries, and illustrated how important continued exploration and development in this area is to realize the full potential of microalgae.
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