Algae Feed

Algae Feed Market Outlook

The global algae feed market is projected to reach approximately USD 1.5 billion by 2035, expanding at a robust compound annual growth rate (CAGR) of around 10% during the forecast period from 2025 to 2035. The growth of this market can be attributed to an increasing demand for sustainable and high-nutritional animal feed alternatives, as concerns about the environmental impact of traditional feed sources continue to grow. Additionally, the rising awareness regarding the health benefits of algae-based feed among livestock and aquaculture industries is expected to drive market expansion. Moreover, the surge in aquaculture production globally, along with the rising demand for organic and natural feed products, further accentuates the growth of the algae feed market. These factors, combined with government support for sustainable practices in agriculture and aquaculture, are creating a favorable environment for market participants.

Growth Factor of the Market

The algae feed market is experiencing significant growth primarily due to the increasing consumer preference for plant-based and sustainable food sources. With a growing population and the corresponding rise in demand for protein-rich diets, algae presents a viable solution as it is rich in essential nutrients including proteins, omega-3 fatty acids, vitamins, and minerals. Furthermore, the aquaculture industry is progressively incorporating algae into feed formulations as a cost-effective and environmentally friendly alternative to traditional fishmeal and soybean meal, which are subject to fluctuating prices and sustainability concerns. The rising prevalence of diseases among livestock and pets has also prompted feed producers to seek innovative supplements such as algae to enhance immune function and overall health. Additionally, research and development efforts aimed at optimizing algae cultivation and processing techniques are expected to enhance product availability and quality, further driving market growth.

Key Highlights of the Market

• The market is projected to witness a CAGR of 10% from 2025 to 2035.
• Aquaculture is one of the largest application segments driving the demand for algae feed.
• North America remains one of the key regions due to high consumption rates and increased awareness.
• Spirulina and Chlorella are the most popular product types utilized for their nutritional benefits.
• The rise in online retail channels is making algae feed more accessible to consumers and businesses.

By Product Type

Spirulina:

Spirulina is one of the most widely recognized types of algae used in feed due to its high protein content and rich array of vitamins and minerals. Notably, it contains all essential amino acids, making it a complete protein source. As a result, it is extensively utilized in aquaculture, livestock farming, and pet food formulations. Spirulina has gained traction for its ability to enhance growth performance and improve the health of various aquatic species. Additionally, its antioxidant properties make it beneficial for immune support, further driving its adoption in feed products. Producers are increasingly recognizing its potential in promoting overall animal health, thus bolstering its market share.

Chlorella:

Chlorella, another prominent type of microalgae, is known for its high chlorophyll content and health-promoting properties. It is particularly rich in proteins, vitamins, and minerals, which makes it an attractive option for inclusion in animal feed. The incorporation of Chlorella in livestock and aquaculture diets has been associated with improved growth rates, better feed conversion ratios, and enhanced immune responses in animals. Moreover, Chlorella's digestibility and nutritional profile make it a favored choice among feed manufacturers. As consumers continue to seek organic and natural feed options, the demand for Chlorella is set to grow significantly, further underpinning its role in the algae feed market.

Kelp:

Kelp, a type of brown algae, offers a unique set of nutrients that can significantly enhance animal health and performance. Its rich iodine content along with various vitamins and minerals makes it a preferred additive in livestock feed. Kelp is also known to stimulate appetite and improve digestion, thus leading to better feed utilization. Additionally, the incorporation of kelp in aquaculture feed has been found to enhance growth performance and overall health in fish and shellfish. As the demand for functional ingredients in animal nutrition rises, kelp’s role in the algae feed market is likely to expand, providing added value to feed formulations.

Seaweed:

Seaweed encompasses a diverse range of marine algae that are increasingly being recognized for their nutritional value and health benefits for animals. Rich in essential fatty acids, vitamins, and minerals, seaweed is particularly beneficial in aquaculture and livestock nutrition. Its unique chemical composition can aid in improving metabolic health and reducing stress in animals, making it a valuable ingredient for animal feed producers. Furthermore, the sustainability of seaweed farming positions it as an environmentally friendly alternative to traditional feed sources. With growing interest in sustainable farming practices, the use of seaweed in algae feed solutions is anticipated to increase significantly.

Others:

This category includes various forms of algae that may not fall under the primary classifications of Spirulina, Chlorella, Kelp, and Seaweed. Other algae types may include various microalgae species that are being explored for their potential benefits in animal nutrition. The adoption of these alternative algae is driven by the need for diversification in feed ingredients and the search for more sustainable, high-nutrient options. As research continues to uncover the potential benefits of these lesser-known algae types, they are expected to gain traction in the algae feed market, catering to niche applications in specific livestock and aquaculture sectors.

By Application

Aquaculture:

The aquaculture segment is a primary driver of the algae feed market, accounting for a significant share due to the high nutritional requirements of aquatic species. With the global demand for seafood on the rise, aquaculture producers are increasingly seeking sustainable feed alternatives to support the growth of fish and shellfish. Algae-based feeds not only provide essential nutrients but also enhance the health and vitality of aquatic organisms, leading to better yields and quality. Moreover, the use of algae in aquaculture can help mitigate the environmental impacts associated with traditional feed ingredients, making it an appealing option for environmentally conscious producers.

Livestock:

Algae feed is gaining traction in the livestock sector as producers seek sustainable and nutritious feed sources. The incorporation of algae into livestock diets has been shown to improve overall health, growth rates, and immune function in animals. Additionally, algae can provide a rich source of omega-3 fatty acids and other essential nutrients that are often lacking in conventional feed. As animal welfare standards continue to rise and consumers demand higher-quality products, the inclusion of algae in livestock feed formulations is expected to grow, offering a holistic approach to animal nutrition.

Pets:

The pet food industry is also recognizing the benefits of algae as a valuable ingredient in pet diets. Algae-based supplements are being formulated to enhance the nutritional profile of pet food, providing essential vitamins, minerals, and fatty acids. The growing trend of humanization of pets drives this market, as pet owners are increasingly seeking high-quality, nutritious, and functional food for their animals. By incorporating algae into pet food formulations, manufacturers are able to cater to the demand for natural ingredients that support the health and well-being of pets, thus driving the growth of this segment in the algae feed market.

Pharmaceuticals:

Algae are also finding application in the pharmaceutical sector, where they are utilized for their health-promoting properties. The bioactive compounds derived from algae, including antioxidants and anti-inflammatory agents, have potential uses in dietary supplements and functional foods targeted at improving health outcomes. This integration of algae into pharmaceutical applications is driven by the increasing consumer awareness of the health benefits associated with natural products. As research continues to unveil the therapeutic properties of various algae species, the pharmaceutical application segment of the algae feed market is expected to expand, providing new opportunities for growth.

Others:

This category encompasses various applications of algae feed beyond the primary segments mentioned above. These may include niche markets such as biofuels, cosmetics, and bio-packaging, where algae are utilized for their sustainable and functional properties. As industries increasingly shift towards sustainable practices, the potential applications of algae feed are vast and varied, offering new avenues for innovation and growth. The ongoing advancements in algae cultivation and processing technologies will likely enhance the viability of these applications, creating new opportunities for market participants.

By Distribution Channel

Direct Sales:

Direct sales play a crucial role in the distribution of algae feed products, allowing manufacturers to establish a direct connection with end-users. By bypassing intermediaries, companies can offer competitive pricing and ensure better product availability. This channel is particularly beneficial for farmers and aquaculture producers who require bulk purchases of high-quality feed. Manufacturers focusing on building strong relationships with their customers can leverage direct sales to provide personalized service and tailor solutions that meet specific nutritional needs, thus fostering customer loyalty and encouraging repeat business.

Indirect Sales:

Indirect sales channels encompass various intermediaries such as wholesalers, distributors, and retailers who facilitate the distribution of algae feed products. This channel is essential for reaching a broader audience, allowing manufacturers to penetrate diverse markets without the overhead costs associated with direct sales. The presence of established distribution networks enables algae feed producers to focus on product development and marketing while relying on distributors to manage logistics and customer relationships. As consumer demand for algae-based products continues to grow, optimizing indirect sales channels will be vital for market expansion and ensuring product accessibility.

Online Retail:

Online retail has emerged as a significant distribution channel in the algae feed market, enabling consumers and businesses to conveniently purchase products from the comfort of their homes or workplaces. The rise of e-commerce platforms has transformed the way consumers access and purchase feed products, offering a wider variety of options and competitive pricing. As the trend towards digital shopping continues to grow, algae feed manufacturers are increasingly investing in online marketing strategies to reach their target audience effectively. This channel also allows for greater consumer engagement through reviews and feedback, thus influencing purchasing decisions and brand loyalty.

Specialty Stores:

Specialty stores dedicated to health foods and organic products are crucial distribution points for algae feed products. These retailers cater to health-conscious consumers who prioritize natural and sustainable ingredients in their purchases. By positioning algae feed products in specialty stores, manufacturers can target niche markets that value the health benefits and sustainability associated with algae. Moreover, the knowledgeable staff in these stores can provide valuable information to consumers about the benefits of algae, helping to drive sales and educate customers about its advantages in animal nutrition.

Others:

This category includes various alternative distribution channels that do not fit into the conventional classifications mentioned above. These may encompass farmer's markets, cooperatives, and community-supported agriculture (CSA) programs that offer algae feed products directly to consumers. The emergence of these alternative channels reflects a growing trend towards localized and sustainable food systems, where consumers seek to connect with producers and understand the origins of their food. By leveraging these channels, algae feed producers can cater to community-oriented consumers and capitalize on the increasing demand for organic and natural products.

By Ingredient Type

Omega-3 Fatty Acids:

Omega-3 fatty acids derived from algae are becoming increasingly popular as a valuable ingredient in both animal and pet feeds. These essential fatty acids play a crucial role in promoting heart health, reducing inflammation, and enhancing immune function. Algae-based omega-3 sources are particularly appealing as they provide a sustainable alternative to fish oil, thereby alleviating concerns related to overfishing and environmental degradation. As awareness of the health benefits of omega-3s continues to grow, the demand for algae-derived omega-3 supplements in feed formulations is expected to rise, thereby driving market growth.

Proteins:

Algae are recognized for their high protein content, making them an essential ingredient type in various feed formulations. The incorporation of algae proteins into livestock, aquaculture, and pet feed helps to enhance the overall nutritional profile of the diets. These proteins are often considered complete, as they contain all essential amino acids required for optimal growth and development. The rise in demand for sustainable protein sources, coupled with the increasing shift towards plant-based diets, is likely to propel the use of algae proteins in feed formulations, catering to the evolving dietary preferences of both animals and humans.

Vitamins:

Vitamins derived from algae are gaining prominence as a natural and nutrient-dense ingredient in animal feed. Algae are known to be a rich source of essential vitamins, including vitamin A, B-complex vitamins, and vitamin E, which are vital for maintaining optimal health and supporting metabolic processes in animals. Inclusion of these vitamins in feed formulations can lead to improved growth rates, better reproductive performance, and enhanced immunity in livestock and aquaculture species. As the demand for high-quality and nutritious feed continues to rise, the role of algae-derived vitamins in the feed industry is expected to expand.

Minerals:

Algae serve as an excellent source of minerals that are essential for animal health, including calcium, magnesium, potassium, and iodine. These minerals play critical roles in various physiological functions, from bone health to metabolic regulation. The growing awareness of the significance of mineral supplementation in livestock and aquaculture nutrition is driving the demand for algae-based mineral sources. With the increasing focus on feed formulations that support animal welfare and health, algae-derived minerals are gaining traction among feed producers, further contributing to the growth of the algae feed market.

Others:

This category includes various other beneficial compounds and bioactive ingredients that can be derived from algae. These may encompass antioxidants, polysaccharides, and phytochemicals that offer unique health benefits for animals. The growing interest in functional ingredients in animal feed is prompting manufacturers to explore the potential of these lesser-known components sourced from algae. As research continues to uncover the diverse properties and applications of these compounds, their incorporation into feed formulations is expected to increase, reflecting the evolving landscape of animal nutrition.

By Region

The algae feed market is characterized by significant regional variations, with North America leading the charge due to its advanced aquaculture and livestock industries. In this region, the focus on sustainable and organic farming practices has propelled the demand for algae-based feed solutions. With a market valuation of approximately USD 600 million in 2023, North America is projected to witness a CAGR of 8.5% during the forecast period. The growing awareness regarding the health benefits of algae feed and the increasing number of regulatory approvals for algae-based products further support the expansion of this segment.

Europe follows closely, with a growing market driven by the rising demand for sustainable aquaculture practices and the need for alternative protein sources in livestock diets. The European algae feed market was valued at around USD 450 million in 2023, and it is anticipated to expand at a CAGR of 9% through 2035. The region's stringent regulations concerning animal welfare and environmental sustainability align with the benefits offered by algae feed, making it a preferred choice among producers. As consumers increasingly demand transparency in food sourcing, the incorporation of algae into feed formulations is expected to gain more traction across Europe.

Opportunities

The algae feed market presents numerous opportunities for growth as the global focus on sustainability and health continues to gain momentum. One of the most significant opportunities lies in the increasing demand for alternative protein sources, particularly in the context of livestock and aquaculture. As traditional feed ingredients face scrutiny due to environmental concerns and fluctuating supply, algae presents a viable and sustainable solution. Furthermore, as research continues to unveil the nutritional benefits and functionalities of various algae species, there is ample scope for innovation in product development, catering to the unique dietary needs of different animals. Companies that invest in R&D and explore novel applications for algae feed are likely to capitalize on the expanding market potential.

Another promising opportunity lies within the pet food segment, where the humanization trend is driving demand for high-quality, nutrient-rich pet diets. Pet owners are increasingly seeking natural and sustainable ingredients for their pets, creating a significant market for algae-based feed products. Additionally, the rise of online retail channels provides a unique opportunity for algae feed manufacturers to reach a wider audience and explore partnerships with e-commerce platforms. By leveraging these channels, companies can enhance product visibility and accessibility, ultimately driving sales growth and brand recognition in the competitive pet food market.

Threats

Despite the promising outlook for the algae feed market, several threats could potentially hinder its growth trajectory. One of the primary concerns is the volatility in the supply of raw materials required for algae cultivation. Factors such as climate change, water availability, and competition for land resources can impact the production of algae, leading to fluctuations in prices and product availability. Additionally, the lack of standardized regulations and quality control measures in the algae feed industry may deter some producers from adopting algae-based products, as inconsistencies in quality could undermine consumer trust and market growth. Addressing these challenges will require collaboration among industry stakeholders to ensure sustainable practices and minimize risks associated with supply chain disruptions.

Furthermore, the algae feed market faces competition from traditional feed ingredients such as soybean meal and fishmeal, which are well-established and may continue to dominate the market, particularly if there are no significant price advantages for algae. Additionally, as more players enter the algae feed market, the competitive landscape may intensify, leading to pricing pressures and challenges for smaller companies. To thrive in this competitive environment, algae feed producers must focus on differentiation through innovation, quality, and sustainability to maintain their market position and drive growth.

Competitor Outlook

• Algenuity Ltd.
• AlgaEnergy S.A.
• NutraGrow Inc.
• Earthrise Nutritionals LLC.
• Algatechnologies Ltd.
• Phytoplankton LLC.
• Greenshift Corporation.
• Valensa International LLC.
• Sundaram Agri Products Pvt. Ltd.
• BioMar Group A/S.
• Alltech Inc.
• Qualitas Health Inc.
• Seasol International Pty Ltd.
• Corbion N.V.
• Marinova Pty Ltd.

The competitive landscape of the algae feed market is marked by a diverse array of players, ranging from established companies to emerging startups, each vying for market share in this promising sector. The major players are increasingly focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market reach. Many companies are investing significantly in research and development to innovate and create new algae-based products tailored to the specific needs of livestock, aquaculture, and pet food industries. Additionally, there is a growing emphasis on sustainability and eco-friendly practices, with companies striving to position themselves as leaders in responsible sourcing and production of algae feed products.

Algenuity Ltd. is recognized for its innovative approach to algae cultivation, leveraging biotechnology to optimize the growth of nutrient-rich algae strains. The company specializes in producing high-quality algae-based ingredients tailored for specific applications, targeting both the aquaculture and livestock sectors. By focusing on sustainable practices and product innovation, Algenuity is well-positioned to capitalize on the growing demand for algae feed solutions. Similarly, AlgaEnergy S.A. is a prominent player that utilizes advanced technology to enhance the cultivation and extraction processes of algae, enabling the production of high-value ingredients that meet the nutritional needs of various animals. Their commitment to sustainability and eco-friendly practices aligns with the increasing demand for natural feed alternatives, allowing AlgaEnergy to maintain a competitive edge in the market.

Another significant player, BioMar Group A/S, is known for its extensive experience in the aquaculture sector and is actively integrating algae-based ingredients into its feed formulations. The company's focus on innovation and sustainability is evident in its research initiatives aimed at optimizing the nutritional profile of algae feed. Furthermore, companies like Alltech Inc. and Corbion N.V. have made substantial investments in developing algae-based products, targeting both the livestock and pet food markets. Their dedication to improving animal health and nutrition through sustainable solutions positions them as key competitors in the algae feed landscape, paving the way for continued growth and expansion in the years to come.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Alltech Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Corbion N.V.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Algenuity Ltd.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 NutraGrow Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 AlgaEnergy S.A.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 BioMar Group A/S.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Marinova Pty Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Phytoplankton LLC.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Qualitas Health Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Algatechnologies Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Greenshift Corporation.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Valensa International LLC.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Earthrise Nutritionals LLC.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Seasol International Pty Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Sundaram Agri Products Pvt. Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Algae Feed Market, By Application
    • 6.1.1 Aquaculture
    • 6.1.2 Livestock
    • 6.1.3 Pets
    • 6.1.4 Pharmaceuticals
    • 6.1.5 Others
  • 6.2 Algae Feed Market, By Product Type
    • 6.2.1 Spirulina
    • 6.2.2 Chlorella
    • 6.2.3 Kelp
    • 6.2.4 Seaweed
    • 6.2.5 Others
  • 6.3 Algae Feed Market, By Ingredient Type
    • 6.3.1 Omega-3 Fatty Acids
    • 6.3.2 Proteins
    • 6.3.3 Vitamins
    • 6.3.4 Minerals
    • 6.3.5 Others
  • 6.4 Algae Feed Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Indirect Sales
    • 6.4.3 Online Retail
    • 6.4.4 Specialty Stores
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Algae Feed Market by Region
  • 10.3 Asia Pacific - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 India
      • 10.3.1.2 China
      • 10.3.1.3 Japan
      • 10.3.1.4 South Korea
  • 10.4 Latin America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 Brazil
      • 10.4.1.2 Argentina
      • 10.4.1.3 Mexico
  • 10.5 North America - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 USA
      • 10.5.1.2 Canada
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Algae Feed market is categorized based on

By Product Type

• Spirulina
• Chlorella
• Kelp
• Seaweed
• Others

By Application

• Aquaculture
• Livestock
• Pets
• Pharmaceuticals
• Others

By Distribution Channel

• Direct Sales
• Indirect Sales
• Online Retail
• Specialty Stores
• Others

By Ingredient Type

• Omega-3 Fatty Acids
• Proteins
• Vitamins
• Minerals
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Algenuity Ltd.
• AlgaEnergy S.A.
• NutraGrow Inc.
• Earthrise Nutritionals LLC.
• Algatechnologies Ltd.
• Phytoplankton LLC.
• Greenshift Corporation.
• Valensa International LLC.
• Sundaram Agri Products Pvt. Ltd.
• BioMar Group A/S.
• Alltech Inc.
• Qualitas Health Inc.
• Seasol International Pty Ltd.
• Corbion N.V.
• Marinova Pty Ltd.