Microalgae are photosynthetic microorganisms that possess great potential for application in the food industry because of their rich content of bioactive compounds, including fatty acids, proteins, and polyphenols. Additionally, they represent a source of natural colorants, including carotenoids, chlorophylls, and phycobiliproteins. The extraction of pigments from microalgae has gained considerable interest due to the wide variety of strains available and their metabolic diversity. Although microalgae-delivered pigments have some disadvantages compared to their synthetic alternatives, such as higher costs and instability, there is a growing market for products coloured using these natural agents. Today, a variety of food products that contain microalgae pigments are available on the market. These include pasta, bakes goods, snacks, and different beverages. These products have high consumer acceptance, driven by the recognized functional properties of these compounds as nutraceuticals and antioxidants and the increasing change in consumer habits, leaning towards natural products. However, the use of compounds derived from microalgae still presents some drawbacks, mainly due to the production and downstream processing steps. This chapter aims to show the potential, challenges and future trends in the use of microalgae as a source of colours for innovative food products. In addition, examples of algae-containing products that have already reached the market will be given together with the most recent innovative foods where microalgae might play a role in the future.