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.
(vasep.com.vn) Tomorrow, August 19, 2026, the Vietnam International Seafood Exhibition – Vietfish 2026 will officially open at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. Taking place over three days, from August 19–21, Vietfish 2026 promises to provide a dynamic platform for business networking, trend updates, product experiences and comprehensive cooperation across the domestic and international seafood community.
(vasep.com.vn) The global tilapia market continues to grow, creating significant opportunities for countries with strengths in aquaculture, processing, and exports. Against this backdrop, Vietnam’s tilapia industry is gradually developing toward higher quality, greater product diversification, and broader market reach. At Vietfish 2026, the Vietnam Association of Seafood Exporters and Producers (VASEP), together with the VASEP Tilapia Producers and Exporters Club, will host a joint booth to promote the image and potential of Vietnamese tilapia to domestic and international buyers.
(seafood.vasep.com.vn) Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.
(seafood.vasep.com.vn) The first six months of 2026 indicate that Vietnam’s tilapia industry is entering a new phase of development, with strong export growth but also greater demands for production scale, quality and international competitiveness.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
(seafood.vasep.com.vn) June 2026 brought encouraging signs for Vietnam's tuna exports, with export value rising 20% year-on-year to nearly USD 72 million. However, this increase has yet to offset the prolonged slowdown seen in key markets such as the European Union (EU), where import demand remains weak. The outlook for the second half of the year is expected to become more challenging as freight rates continue to climb.
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