Biomar

What Biomar does

BioMar is a Danish-headquartered global aquaculture feed manufacturer founded in 1962 and currently operating as the world's third-largest aquafeed producer. The company develops and manufactures high-performance feed solutions tailored to specific species, life stages, production systems, and environmental conditions, serving more than 45 species across approximately 90 countries. BioMar's product portfolio is organized around branded functional feed lines (SmartCare for health challenges, LARVIVA for hatchery nutrition, Blue Impact for sustainability-focused feeds, and species/life-stage brands ORBIT, EFICO, POWER, EXIA, MAXIO, Symbio). The company conducts R&D at its Aquaculture Technology Centre in Hirtshals, Denmark and the LetSea research centre in Norway, focusing on novel ingredient innovation (insect meal, algal oils, regenerative agricultural products), functional nutrition, and raw material sustainability.

BioMar generates revenue primarily through direct feed sales from 17 owned production facilities across 13 countries (Norway, Chile, Denmark, Scotland, Spain, France, Greece, Turkey, China, Vietnam, Costa Rica, Ecuador, and Australia), supplemented by joint ventures and manufacturing partnerships in China (Tongwei), Vietnam (Viet Uc), Iceland (Fóðurblandan), and Turkey. The company targets enterprise-scale aquaculture producers through dedicated commercial teams and prioritizes long-term collaborative partnerships over transactional volume sales. Pricing is determined through direct commercial relationships tailored to species, growth stage, volume, and technical specifications under multi-year contracts. Reported revenue was DKK 20 billion across consolidated companies and joint ventures in 2023, with 2024 EBITDA of DKK 1.5 billion (18% year-on-year growth). BioMar holds approximately 25% of the global salmon feed market and has achieved ASC Feed Certification across nearly all major facilities.

Following its May 2026 IPO on Nasdaq Copenhagen at a DKK 10.85 billion valuation, BioMar remains majority-owned by Danish conglomerate Schouw & Co. The company has grown through a combination of organic capacity expansion (Ecuador, China), acquisitions (LetSea, full ownership of BioMar Ecuador), and partnerships for novel ingredients (Innovafeed, Agronutris, Yield10, Lallemand, Cefetra). Its BioSustain programme tracks three measurable sustainability parameters—Forage Fish Dependency Ratio (reaching a record-low 0.37 in 2024), percentage of circular and restorative raw materials, and carbon footprint per tonne of feed.

Name

Biomar

Legal name

BioMar Group A/S

Website

https://biomar.com

Company type

Public

Founded year

1962

Operating status

Ipo

Headcount range

501–1,000 employees

Short description

BioMar is a Danish-headquartered global aquaculture feed manufacturer producing species-specific feeds for more than 45 species across approximately 90 countries. Operating 17 factories worldwide as the world's third-largest aquafeed producer with ~25% global salmon feed market share, the company serves enterprise aquaculture farmers through its SmartCare, LARVIVA, and Blue Impact branded product lines.

Ownership category

akta.pro rank

Product category

Aquaculture Feed

NAICS

Other Animal Food Manufacturing (311119)

SIC

Food And Kindred Products (2000)

akta.pro primary industry

Finfish Feed (Salmonids, Trout, Sea Bass/Bream, Tilapia, Catfish) (AFADADAA)

akta.pro secondary industries

Shrimp & Prawn Feed (AFADADAB), Functional & Health Aquaculture Feed (Immunity, Disease Mitigation) (AFADADAI), Aquaculture Feed & Nutrition (HLAMAHAF)

Keywords

• Aquaculture feed
• Fish feed production
• Shrimp feed
• Functional aquafeed
• Hatchery nutrition

Headquarters

HQ city

Aarhus

HQ country

Denmark

HQ region

Europe

Offices16 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Aquaculture Feed Sales: BioMar generates revenue primarily through the manufacture and sale of aquaculture feed for fish and shrimp species. Feed is sold directly to aquaculture farmers across approximately 90 countries through own production facilities and joint ventures. The company reports revenue across consolidated companies and joint ventures, with 2023 volumes of 1.6 million tonnes across all feed companies managed by BioMar including joint ventures.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

BioMar manufactures and sells high-performance aquaculture feeds for fish and shrimp farming. The company produces species-specific and life-stage-specific feeds across hatchery, starter, transfer, and grower stages for more than 45 species including Atlantic salmon, sea bass, sea bream, shrimp, and trout. Feed is sold directly to aquaculture farmers through 17 feed factories and joint ventures across approximately 90 countries, supplemented by technical and partnership services through the BioFarm programme.

Product overview

BioMar is a dedicated global aquafeed solution supplier offering a comprehensive portfolio of specialized feed products and services for aquaculture. The core offering consists of multiple feed solution brands (SmartCare, LARVIVA, Blue Impact, ORBIT, Symbio, EXIA, EFICO, MAXIO, POWER) organized across different life stages (Hatchery, Starter, Transfer, Grower) and targeting over 45 species including Atlantic Salmon, Sea Bass, Sea Bream, Shrimp, and Trout. The products are supported by sustainability program BioSustain and partnership services through BioFarm. SmartCare provides functional nutrition solutions for specific health challenges; LARVIVA offers premium hatchery feeds for larvae; Blue Impact delivers sustainable feeds with reduced environmental footprint. Feed solutions are customized for different production systems, environmental conditions, and species-specific nutritional requirements across multiple global markets.

Differentiator

Problem solved

Functional benefit

Brands

• LARVIVA: Hatchery feed product line for marine fish larvae and shrimp
• SmartCare
• Blue Impact
• ORBIT
• EFICO
• INICIO Plus
• BioSustain
• BioFarm
• P3 Concept

Products and services

• SmartCare Feed Solutions A range of globally proven functional feed solutions for aquaculture species that helps fish farmers tackle daily production challenges through preventative functional nutrition strategies tailored to specific challenges, including SmartCare Defence for sea bass, SmartCare Calm for stress management, SmartCare Endurance for challenging conditions, and SmartCare Control for gill health.
• LARVIVA Hatchery Feed Programme Premium hatchery feed programme for marine fish larvae and shrimp, including LARVIVA Multigain (live feed enrichment formula with phospholipids and Bactocell probiotic) and LARVIVA ProStart (premium microdiet for marine fish larvae), designed to support early larval development and improve hatchery success rates.
• Blue Impact Feed Programme Sustainable feed concept designed to reduce environmental footprint through innovative ingredients such as insect meal, regenerative agricultural products, and trimmings from seafood processing, with continuous improvements across FFDR, circular raw materials, and carbon footprint.
• ORBIT Feed Solutions Performance-optimized feed solution offering for aquaculture species across various life stages.
• EFICO Feed Solutions Feed solution brand for various aquaculture applications across multiple species.
• POWER Feed Solution Feed solution tailored for waterborne feeding systems, including POWER H2O for submerged feeding technology in salmon farming.
• Symbio Feed Solutions Feed solution offering for aquaculture species across various applications.
• EXIA Feed Solutions Feed solution offering for aquaculture species across various applications.
• MAXIO Feed Solutions Feed solution offering for aquaculture species across various applications.
• BioFarm Partnership Programme Collaborative platform focused on cultivating success together with aquaculture farmers through technical support, advisory, networking events, and partnership programs.

Quantifiable outcome

• Forage Fish Dependency Ratio reduced to record-low 0.37 in 2024, enabling significant reduction in wild fish dependency
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Ten partnerships are on record, tiered strategic, supporting and core.

• Aqua-SparkstrategicStrategic or Co-development Partner · 21 May 2026Aqua-Spark, a Netherlands-based sustainable aquaculture impact investment fund, hired Katherine Bryar as director of strategic partnerships. Bryar was former global marketing director at BioMar, indicating ongoing talent and network connections between the organisations.
• Centre for Feed Innovation (CFI)supportingStrategic or Co-development Partner · 22 April 2026The Centre for Feed Innovation (CFI) released its 2025 State of the Industry report confirming algal oil as an effective fish oil substitute in aquaculture feed, with BioMar, Skretting, and Cargill already incorporating it at 100% replacement rates without negative impacts.
• TongweicoreChannel Partner/ Reseller/ Distributor · 11 February 2026BioMar operates a joint venture with Tongwei in China at the Wuxi production facility. Following successful growth, a second production line adding 50,000 tonnes is planned for commissioning in Q1 2027 to meet rising market demand.
• InnovafeedcoreStrategic or Co-development Partner · 1 September 2025BioMar and Innovafeed partnered to integrate insect protein (Black Soldier Fly larvae) into commercial shrimp feed in Ecuador, announced at the Global Shrimp Forum. Innovafeed provides the insect meal ingredient while BioMar formulates and distributes the feed. Auchan (retail partner) joined as a third partner in the initiative. The partnership also includes Cefetra for emissions reduction from crop ingredients.
• CefetracoreStrategic or Co-development Partner · 1 September 2025BioMar partnered with Cefetra, a leader in agricultural supply chains, to reduce emissions from crop to coast across BioMar's feed ingredients. The partnership focuses on sustainable soybean sourcing and emissions measurement from agricultural raw materials used in aquafeed, supporting BioMar's BioSustain programme.
• FóðurblandancoreChannel Partner/ Reseller/ Distributor · 29 May 2025BioMar entered a partnership with Icelandic company Fóðurblandan for the manufacture and distribution of aquafeed through their production facility in Reykjavik. This makes BioMar the first global feed company to manufacture in Iceland, extending its geographic reach to a new market.
• LetSeacoreStrategic or Co-development Partner · 11 March 2025BioMar acquired full ownership of LetSea, Norway's leading experimental and research centre for aquaculture, taking over the remaining shares. LetSea had been a key partner in conducting semi-commercial sea trials for BioMar products including Atlantic salmon trials for vitamin D research. The facility in Steigen enables large-scale controlled trials for feed solutions.
• LallemandcoreStrategic or Co-development Partner · 25 October 2024BioMar's partnership with Lallemand spans over 15 years and has produced one of the most significant innovations in aquaculture: BACTOCELL (Pediococcus acidilactici), a probiotic included in LARVIVA hatchery feeds and other products. The collaboration continues to drive innovation in gut health and nutrient assimilation.
• AgronutrisstrategicStrategic or Co-development Partner · 1 January 2024BioMar signed a long-term partnership with French company Agronutris to develop the next generation of black soldier fly meals specifically designed for the aquaculture industry's needs. The partnership focuses on insect meal innovation for aquafeed applications.
• Yield10 BiosciencestrategicStrategic or Co-development Partner · 25 October 2023BioMar and Yield10 Bioscience signed an agreement to form a long-term partnership to commercialize Camelina crops containing enriched omega-3 fatty acids (EPA) as a land-based source of fish oil for aquafeed, aiming to 'grow fish oil on land.'

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Skretting (Nutreco): Skretting is the world's largest aquafeed producer and BioMar's closest direct competitor, producing feed for salmon, shrimp, and other species globally. Both companies compete head-to-head on functional feeds, sustainability programmes, and global supply contracts with major aquaculture producers.
• Cargill Aqua Nutrition (formerly EWOS): Cargill's Aqua Nutrition division (incorporating the former EWOS) is a top-tier global aquafeed producer competing directly with BioMar in salmon and shrimp feed markets, with strong procurement scale and an integrated value chain.
• Aller Aqua: Aller Aqua is a Danish-headquartered aquafeed producer serving salmon, trout, sea bass, sea bream, and other species across Europe, Asia, and Africa, competing directly with BioMar in functional and standard aquaculture feeds.

Regional players

• Ridley Corporation: Ridley Corporation is an Australian animal feed and aquafeed producer with salmonid feed capacity serving Australia and Southeast Asia, overlapping with BioMar's Australian and Asian operations in species like barramundi and salmon.

Broad incumbents

• Nutreco (parent of Skretting): Nutreco is the broader animal nutrition group owning Skretting and competing with BioMar across aquaculture while also operating in livestock feed and premixes.
• ADM Animal Nutrition: ADM is a global agricultural and animal nutrition major with aquaculture feed capabilities and large commodity procurement scale, positioning it as a broad incumbent competitor and potential partner for BioMar in Asian markets.

Others

• Innovafeed: Innovafeed is a Black Soldier Fly insect protein producer partnered with BioMar to integrate insect meal into commercial shrimp feed in Ecuador, making it both a supplier and a strategic ecosystem participant.
• Lallemand Animal Nutrition: Lallemand is a microbial and probiotic supplier with a 15+ year partnership with BioMar on BACTOCELL, included in LARVIVA hatchery feeds, and a key ecosystem participant in BioMar's functional feed offerings.
• Aqua-Spark: Aqua-Spark is a sustainable aquaculture investment fund with talent and network ties to BioMar (e.g., Katherine Bryar as BioMar's former global marketing director now at Aqua-Spark), positioning it as a relevant ecosystem participant.

Emerging players

• Yield10 Bioscience: Yield10 is a plant-trait company partnered with BioMar to commercialise Camelina as a land-based source of EPA omega-3 oil for aquafeed, making it an emerging enabling technology partner in BioMar's alternative-ingredient strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/biomar-group
• Xx.com/BioMarGroup

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biomar