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Microalgae are a diverse group of microscopic and highly efficient photosynthetic organisms with rapid growth that contains a wide range of biochemical components such as pigments, lipids, carbohydrates, and proteins, making them a viable feedstock for various commercial applications in biofuel production, nutraceutical, pharmaceutical, and environmental sectors. Life-cycle assessment (LCA) is one of the most appealing and attractive tools used nowadays by the scientific and decision-makers communities to ensure environmentally sustainable production/consumption of various products. It is a systematic and standardized methodology that has turned into a crucial communication tool for the projects, the target markets, and the general public. Recently, LCA has been applied to quantify algal biofuels' environmental sustainability. As a result, the importance of algal life cycle analysis, its consequences, and contribution to the circular economy will be discussed in this chapter in terms of developing industrial applications.

Synthesized astaxanthin (ASX), stereoisomers of 3S,3′R, 3R,3′R, and 3S,3′S, have over 95% market share and have relatively poor antioxidant and bioactivity properties, with persistent issues in terms of biological functions, health benefits, and biosafety if compared to natural ASX. Bioprospecting of new microalgal strains could be vital for a new source of powerful antioxidant (ASX). In this study, a new algal strain was isolated from the Indian foothills of the Himalayas. Its identity was discerned by morphological and DNA barcode studies. It is a unicellular spheroidal cell-shaped alga with 100–200 μm diameter. The isolate has 93.4% similarity to Dysmorphococcus globosus species based on 18S-rDNA phylogenetic analysis and named as D. globosus-HI (HI stands for Himalayan India). Its growth and major cellular components (carotenoids, carbohydrates, protein, lipids, fatty acid profile, and ASX) were optimized using the seven different culture media. The highest biomass (1.14 g L−1) was observed in the MBBM medium, with a specific growth rate (0.087 day−1), division/day (0.125), and cellular yield (6.16 x 106 cells/mL). The highest carotenoids (1.56 mg g−1), lipids (32.5 mg L−1), and carbohydrates (135.62 mg L−1) were recorded in the 3N-BBM medium. The maximum ω3-FAs (17.78%), ω6-FAs (23.11%), and ω9-FAs (7.06%) were observed in MBBM, JW, and BG-11 medium respectively. The highest amount of antioxidant ASX was accumulated in the 3N-BBM medium (391 mg L−1). It is more than any other known algal species used in the production of natural ASX. The optimized biochemical studies on the D. globosus-HI strain should fulfill the increasing demand for natural ASX for commercial application.