PRODUCTS, AND APPLICATIONS

At present, the most significant product of microalgal biotechnology in terms of produc­tion amounts and economic value is microalgal biomass (Figure 10.1; see color insert). Microalgal biomass has been widely used in the fuel and energy sectors; however, the nutritional value of algal biomass has endorsed its use as a high-protein supplement in human nutrition, aquaculture, and as a nutraceutical (Del Campo et al., 2007).

The algal biomass market size is estimated at around 10,000 tonnes y-1 (dry weight) (Becker, 2007), with an annual turnover of over US$1.25 million (Milledge, 2011). Despite being a biodiverse resource, microalgae remain understudied in terms of their morphology and physiology. Much of the literature regarding the systematics and taxonomy of microalgae focuses on biotechnologically relevant species. More than 200,000 species are known to exist; however, only 10 to 20 species (Table 10.1) have been exploited worldwide for biomass, pigments, antioxidants, and special products (toxins and isotopes) for various product applications (Borowitzka, 1992; Radmer, 1996; Olaizola, 2003).

This chapter addresses in detail various types of high-value products derived from algal biomass, their respective applications, production systems, and market positions.