Algae are emerging as a sustainable source for various biochemicals with applications across industries. In recent times, bioprospecting of algae has been increased for the development of feedstocks for a range of industries, including pharmaceuticals, nutraceuticals, cosmetics, bioplastics, biofuels, and other sectors. Algae cells contain a variety of biomolecules such as lipids, carbohydrates, proteins, vitamins, pigments, and many others. The book explores the production, extraction, and commercialization of industrially important algal-based biochemicals and the processes therein. The prime focus of the book is to compile information on recent advances, challenges, breakthroughs, and trends of applications of algal-derived biochemicals for the realization of the bioeconomic potential of algae diversity. Additionally, this book presents the techno-economic challenges involved in algae-based biochemical production, from upstream cultivation and downstream processing to market commercialization. It discusses innovative approaches such as photobioreactors for mass cultivation, the application of genetic and metabolic engineering to create a robust and high-yielding strain, the latest developments in biorefinery approaches, circular bioeconomy, and the use of green solvents, all geared toward enhancing process efficiency and reducing overall costs. Designed for researchers, industrial professionals, and sustainability advocates, this book offers essential insights into the algal-based bioeconomy, with a focus on public health, environmental sustainability, and future market prospects.