In recent years, high-value bioproducts derived from microalgae including proteins, chlorophyll, carotenoids, and lipids have seen major interest across various industries. These bioproducts find applications in animal feed, agricultural fertilization, cosmetics, pharmaceuticals, bioenergy, and dietary supplements. Following extensive research on the production of high-value bioproducts from microalgae, co-culture systems for microalgae cultivation is a promising approach to increase the applicability of microalgal biorefineries on a large scale. In this research, multiple bioactive compound productions have been studied in a triple co-culture of Haematococcus pluvialis, Chlorella vulgaris, and Spirulina platensis. The main aim was to investigate the effects of three different light intensities (200, 400, and 600 µEm−2 s−1) on microalgae triple co-culture in 2 L airlift photobioreactors over 8 days to produce high-value bioproducts. During this period, the level of total phycobiliproteins (phycocyanin, allophycocyanin, and phycoerythrin), chlorophyll (chlorophyll a and b), carotenoids, astaxanthin, total protein, and reactive oxygen species values were monitored. Additionally, the lipid content was assessed upon harvest. The results revealed that the maximum overall bioproduct yield was achieved for microalgae triple co-culture under the light intensity of 600 µEm−2 s−1compared to the other two systems.