In recent decades, active research has been under way to find alternative sources of renewable raw materials for the production of valuable components. Microalgae, characterized by flexible metabolism, have great potential for organization of production of useful substances for various applications: pharmaceuticals, production of food additives, feed additives for animals and fish, materials, biofertilizers, and biofuels. Despite the large number of scientific publications dealing with separate stages of processes for the production of useful substances from microalgae, a systematic analysis of trends in the development of this sector of bioeconomics remains an important problem. The review presents an analysis of key stages in the production of useful substances from microalgae and the peculiarities of their implementation. Some problems concerning the improvement of performance of such productions using computer modeling tools were discussed.