Ascophyllum nodosum contains many valuable compounds, including polyphenols, peptides, and carotenoids that have been shown to exhibit biological activities. These compounds are not a priority ingredient in seaweed meal products for the current users. Hence, the aim of the study was to investigate the chemical and bioactive characteristics of A. nodosum as affected by seasonal variation and evaluate the potential benefits of alternative processing and the utilization of side streams for product development. The analysis of raw materials, press liquid, and press cake from alternative processing and the commercial seaweed meal at different harvesting periods indicated that the chemical composition is linked to the reproductive state of the algae. Phenolic content and ORAC activity increased following the seaweed’s fertile period, making alternative processing more promising in July and October compared to June. Several valuable ingredients were obtained in the press liquid, including polyphenols, which can be used in the development of new high-value bioactive products. The suggested alternative processing does not have a negative effect on the composition and quality of the current seaweed meal products. Hence, the extraction of valuable ingredients from the fresh biomass during the processing of seaweed meal could be a feasible option to increase the value and sustainability of seaweed processing.