Over the last decades the importance of the biotechnological use of microalgae has significally increased. Microalgae are foreseen as a source of new products and solutions with enormous potential. The aim of this article is to give an overview of the current technological and commercial situation regarding the production of valuable products from microalgae. With well-established applications in the field of cosmetics, human health and animal nutrition, the market still expands towards implementation of new mass products for food and feed industry, fine chemicals or bio-fuels. To improve the economic efficiency of the biotechnological processes with microalgae and to establish them as a relevant producer in the middle to low value products market, further technological development is required.