Microbes have recourse to low-priced substrates like agricultural wastes and industrial efflux. A pragmatic approach towards an emerging field-the exploitation of microbial oils for biodiesel production, pharmaceutical and cosmetic applications, food additives, biopolymer production will be of immense remunerative significance in the near future. Due to high free fatty acid, nutritive content and simpler solvent extraction processes of microbial oils with plant oil, microbial oils can back plant oils in food applications. The purpose of this review is to evaluate the opulence of lipid production in native and standard micro-organisms and also to emphasize the vast array of applications including food and fuel by obtaining maximum yield. (C) 2017 Elsevier Ltd. All rights reserved.