Vinh Hoan stands out as a leader in this sector, employing a sustainable, closed-loop farming model with five subsidiaries focused on various aspects of aquaculture. These include pangasius seed production, aquatic feed, and the extraction of gelatin and collagen, along with a fertilizer production arm. Notably, the gross profit margin for the collagen and gelatin factory can reach up to 30%. Chairwoman Ms. Truong Thi Le Khanh emphasizes that optimizing production processes and minimizing waste enables the company to maximize profits.
Vinh Hoan's circular economic model not only enhances the processing of high-value products from by-products but also supports Vietnam's Net Zero goals. Many prominent seafood companies, such as De Heus, Minh Phu, Thang Long, Vietnam Food, and Skretting, are investing in R&D for aquaculture and seafood processing to lower emissions in line with international commitments.
Promoting the circular economic model over a linear one is seen as a crucial strategy for balancing economic growth with environmental sustainability. Vietnam aims to achieve 10 billion USD in shrimp exports by 2030—three times the current value—projecting an output of approximately 1.1 million tons. The estimated shrimp by-product volume stands at around 500,000 tons. Mr. Phan Thanh Loc, Chairman of Vietnam Food Joint Stock Company, notes that shrimp by-products can yield 20-30 times more value in the pharmaceutical sector or 15-20 times more in the functional food industry. With a shrimp production forecast of over 1.2 million tons in 2023, the potential for increased value from by-products is significant.
Vinh Hoan's circular model has led to remarkable results, with revenue from the collagen and gelatin segment experiencing a compound annual growth rate (CAGR) of 21% from 2018 to 2023, contributing 7% to total revenue in 2023. In contrast, fishmeal and fish fat fetch prices of only 1.2-1.5 USD/kg, while collagen production can yield 15-20 USD/kg for finished products. Overall, leveraging by-products could enhance the value of Vinh Hoan's pangasius farming and processing chain by 15-25%.
Similarly, PAN Group Joint Stock Company is embracing sustainability as a cornerstone of modern agriculture, investing in a recycling production model. By collaborating with a shrimp shell processing company, PAN Group has transformed what would have been costly waste management for over 7,500 tons of shrimp heads and shells into an additional revenue stream of 15 billion VND.
Vietnam generates approximately 170-180 million tons of agricultural by-products annually. With the right processes and technologies for recovery and recycling, these by-products could offer substantial economic benefits while also mitigating environmental waste. The seafood industry aims to ensure that by 2030, all by-products from shrimp and fish processing will be repurposed for circular production.
The experience of Vietnam Food, which processes 35,000-50,000 tons of shrimp by-products each year—boosting their value by 6-8 times—serves as a valuable lesson. Mr. Loc stresses the need for innovative initiatives and a comprehensive industry ecosystem to promote growth. "We believe that today's waste is tomorrow's resource. Achieving this requires strong governmental support, as it represents a new industry," he concludes.
(seafood.vasep.com.vn) Biofloc technology is being piloted in several rice–shrimp farming models in Ca Mau Province, showing initial positive results in controlling pond environments, improving shrimp seed quality, and supporting sustainable aquaculture development.
(seafood.vasep.com.vn) In the first four months of 2026, Mexico, Brazil, and Colombia together contributed USD 108 million to Vietnam’s pangasius exports, accounting for around 15% of the industry’s total export turnover. Amid tightening global whitefish supply and slowing demand in several traditional markets, Latin America is increasingly becoming an important expansion destination for the sector.
(seafood.vasep.com.vn) Alongside the development of high-tech shrimp farming, Ha Tinh Province is accelerating the cultivation of high-value freshwater aquatic species, with red tilapia emerging as an effective and sustainable farming model.
(vasep.com.vn) Vietnam’s tuna exports reached USD 81 million in April 2026, down 6% compared to the same period in 2025. In the first four months of the year, export turnover totaled USD 289 million, down 4.8%. Although the overall export picture has yet to brighten significantly, market trends are becoming increasingly diversified rather than moving in a single direction.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is undergoing strong restructuring starting from the broodstock and fingerling segment in order to improve productivity, quality, and export competitiveness. This is considered a critical foundation for the sustainable development of the industry amid rising production costs and increasingly stringent market requirements.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports in April 2026 reached USD 206 million, up 18% compared to the same period in 2025 — marking another consecutive month of double-digit growth since the beginning of the year. Cumulative pangasius export turnover in the first four months of 2026 reached USD 720 million, up 17% year-on-year, reflecting the positive growth momentum of this key export product.
(seafood.vasep.com.vn) Vietnam’s shrimp exports in the first four months of 2026 maintained positive growth momentum, reaching approximately USD 1.5 billion, up 15% compared to the same period last year. However, behind this result lies diverging trends across markets, as the global shrimp industry continues to face pressure from inflation, high inventories, price competition, and increasing trade risks.
(seafood.vasep.com.vn) In Vinh Tuy commune (Kien Giang Province), many shrimp farmers are adopting bottom aeration systems and reporting clear economic benefits, helping increase income and reduce production risks.
(vasep.com.vn) In the first three months of 2026, Vietnam’s exports of crabs and other crustaceans reached more than USD 93 million, up 23% compared to the same period last year. The result shows that the sector is experiencing a fairly positive recovery, especially in its two key product groups: crabs and swimming crabs. However, behind the growth figures are several concerns: export markets remain highly concentrated, raw material supply is unstable, and trade barriers from the US and EU are becoming increasingly stringent.
(seafood.vasep.com.vn) In Ca Mau province, many farmers are transitioning from traditional methods to high-tech shrimp farming, adopting recirculating systems with minimal water exchange to improve efficiency and reduce risks. In Hung My commune alone, there are about 260 super-intensive shrimp farming households covering more than 265 hectares, playing a key role in local economic development.
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