Whole-cell microalgae biomass and their specific metabolites are excellent sources of renewable and alternative feedstock for various products. In most cases, the content and quality of whole-cell biomass or specific microalgal metabolites could be produced by both fresh and marine microalgae strains. However, a large water footprint for freshwater microalgae strain is a big concern, especially if the biomass is intended for non-food applications. Therefore, if any marine microalgae could produce biomass of desired quality, it would have a competitive edge over freshwater microalgae. Apart from biofuels, recently, microalgal biomass has gained considerable attention as food ingredients for both humans and animals and feedstock for different bulk chemicals. In this regard, several technologies are being developed to utilize marine microalgae in the production of food, feed, and biofuels. Nevertheless, the production of suitable and cheap biomass feedstock using marine microalgae has faced several challenges associated with cultivation and downstream processing. This review will explore the potential pathways, associated challenges, and future directions of developing marine microalgae biomass-based food, feed, and fuels (3F).