Microalgae stand out for their ability to adapt rapidly and efficiently to the changing environments. The push for sustainable development with the rising demand toward natural pigments over synthetic alternatives drives researchers to explore the potential of microalgae for pigment production. Natural pigments such as chlorophylls, phycocyanin, astaxanthin, and β-carotene, sourced from microalgal species such as Chlorella vulgaris, Spirulina platensis, Haematococcus pluvialis, and Dunaliella salina, hold significant relevance and are protected by unique patents that ensures broad availability of the microalgal pigments in the market. Getting pigments from microalgae is an exciting and fast-growing area of research, driven by a growing interest in finding solutions to environmental challenges. This chapter focuses on the patents available from year 2013 to 2024 regarding pigments derived from microalgae used in various commercial sectors such as cosmetics, food, textiles, and others. This chapter also analyses the microalgal pigment market trends with the current value and associated challenges with its commercialization.