Potential applications of algae in biochemical and bioenergy sector

Algae have gained substantial importance as the most promising potential green fuel source across the globe and is on growing demand due to their antioxidant, anticancer, antiviral, antihypertensive, cholesterol reducing and thickening properties. Therefore, it has vast range of application in medicines, pharmaceutical, cosmetics, paper and nutraceutical industries. In this work, the remarkable ability of algae to convert CO₂ and other toxic compounds in atmosphere to potential biofuels, foods, feeds and high-value bioactive compounds is reviewed. Algae produce approximately 50% of the earth's oxygen using its photosynthetic activity, thus acting as a potent tool to mitigate the effects of air pollution. Further, the applicability of algae as a desirable energy source has also been discussed, as they have the potential to serve as an effective alternative to intermittent renewable energy; and also, to combustion-based fossil fuel energy, making them effective for advanced biofuel conversions. This work also evaluates the current applications of algae and the implications of it as a potential substrate for bioplastic, natural alternative to inks and for making paper besides high-value products. In addition, the scope for integrated biorefinery approach is also briefly explored in terms of economic aspects at the industrial scale, as such energy conversion mechanisms are directly linked with sustainability, thus providing a positive overall energy outlook.