Among cyanobacterium, Arthrospira platensis (A. platensis) is a rich source of diverse bioactive compounds due to its high protein, essential amino acid, vitamin, and mineral content. A. platensis is one of the most abundant sources of protein (50–70%). In the food industry, A. platensis is being used as an ingredient for the development of food flavor, taste, and nutritional composition. Several in vitro and in vivo studies have revealed the potential use of A. platensis in the prevention and treatment of various metabolic diseases. Recently, extensive research has focused on the production and bioactivity of the A. platensis-derived bioactive peptides. A series of steps were used for the production of bioactive peptides including hydrolysis, ultrafiltration, and chromatographic techniques, coupled with an advanced detector. A. platensis peptides showed health benefits such as anti-hypertension, anti-diabetes, anti-microbial, antioxidant, anti-obesity, and anti-cancer activities. This review aims to present the main nutritional composition of A. platensis, the processes of purification, and the identification of bioactive peptides, and the potential health benefits such as antihypertensive, antidiabetic, anti-cancer, anti-obesity, antioxidant, and anti-microbial activities associated with the consumption of A. platensis-derived peptides are discussed. The originality of this review over the old review is that our review comprehensively studies the macro- and micronutrient composition and listed bioactive peptides to date, which can play an important role in the treatment of various diseases. Moreover, this review provides information related the research gaps of the various technologies that should be used for the development of the peptide as a pharmaceutical and functional food.
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