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Considering the rapid increase of world population and shrinking of arable land, algae could potentially serve as an alternate to supplement proteins and nutrients derived from terrestrial plants. Microalgae are rich in variety of nutritionally important compounds like proteins, pigments, carbohydrates, polyunsaturated fatty acids, dietary fibers and bioactive compounds with wide range of health benefits. Eicosapentaenoic acid and docosahexaenoic acid serve as wonder molecules by reducing the risk of cardiac diseases like arrhythmia, stroke, rheumatoid arthritis, and high blood pressure. Besides being used as nutritional source, microalgae are also widely used as natural colorant, pleasant aroma, and carrier molecules. Considering the health benefits of microalgae, World Health Organization declared Spirulina as one of the greatest superfood on the globe. This chapter presents the different nutraceuticals of micro …