Algae.Tec (ASX:AEB) has launched its FeedMe algae product line into the aquaculture and animal feed markets, as part of its expansion into a range of high value product lines.
The company is a specialist algae producer, which has developed a technology that captures waste carbon dioxide to produce commercial quantities of algae for use in the food and fuel sectors.
The FeedMe product line offers a range of healthy options for both animal and aquaculture feeds, as well as superfood sources for human consumption.
The product line was officially launched in April with the first sales through online channels and to leading downstream product formulators and distributors.
Significantly, the aquafeed market is valued at more than US$100 billion in 2017 with industry projections reporting strong growth rate of 12% per year.
The global animal feed market is valued at $25 billion with a growth rate of 6% per year.
Within these markets, there has been a sharp increase in demand for natural and sustainable food supplements to enhance nutritional value.
Incidentally, Algae.Tec recently entered an agreement to expand its technology and product footprint to the rapidly growing medicinal marijuana and associated markets.
The company is developing technologies that optimise controlled growing environments for high value natural products, including medical cannabis.