Microalgae are a potential feedstock for several bioproducts, mainly from its primary and secondary metabolites. Lipids can be converted in high-value polyunsaturated fatty acids (PUFA) such as omega-3, carbohydrates are potential biohydrogen (bioH2) sources, proteins can be converted into biopolymers (such as bioplastics) and pigments can achieve high concentrations of valuable carotenoids. This work comprehends the current practices for the production of such products from microalgae biomass, with insights on technical performance, environmental and economical sustainability. For each bioproduct, discussion includes insights on bioprocesses, productivity, commercialization, environmental impacts and major challenges. Opportunities for future research, such as wastewater cultivation, arise as environmentally attractive alternatives for sustainable production with high potential for resource recovery and valorization. Still, microalgae biotechnology stands out as an attractive topic for it research and market potential.