Marine algae are rich sources of essential bioactive compounds, including polyunsaturated fatty acids, proteins, polysaccharides, and polyphenols. These compounds exhibit various biological activities, such as antioxidant, antimicrobial, anti-inflammatory, and anticancer effects. Their properties make algal bioactive compounds valuable for enhancing nutritional value, improving texture, and serving as natural preservatives in the food industry. These chemicals are used in farming as biostimulants, biofertilizers, and biopesticides. They enhance soil fertility and promote increased crop productivity. Integrating nanotechnology into algal applications further enhances the efficacy and delivery of these compounds. However, safety and regulatory compliance challenges—such as heavy metal contamination and potential allergic reactions—pose risks to consumer health. Additionally, the grassy taste and fishy odor associated with marine algae can limit consumer acceptance. Despite these challenges, algal biomass provides sustainable solutions for low-carbon agriculture through carbon sequestration and recycling, supporting a circular economy and reducing environmental impact. This review looks at the main biomolecular compounds from marine algae and how they are used in food and agriculture. It also talks about the safety, regulatory, and consumer acceptance issues associated with these compounds, as well as possible future directions and innovations.