Vietnam, a leading global seafood producer, is tapping into the vast potential of seafood by-products, turning what was once considered waste into valuable, high-demand products. This move not only enhances profitability but also promotes sustainability and contributes to a circular economy.
In Ho Chi Minh City, several companies are leading the charge. Phuc Loc Co. Ltd. processes around 60 tonnes of by-products daily to produce 4,000–5,000 tonnes of fishmeal annually, generating revenues of 72–90 billion VND (approximately 3–3.9 million USD). Similarly, Tu Hai Co. Ltd. exports cleaned and dried fish bones to Japan, earning 10–12 billion VND annually.
On the research front, the Southern Research Institute for Marine Fisheries converts mixed crab species into canned crab paste and chitosan powder, a high-value raw material for healthcare and agriculture, sold at up to 1,000 USD per kilogram. Beyond industrial applications, companies like Hai Lan Co. Ltd. transform shells into souvenirs, artwork, and jewelry, reaching global markets through platforms like Alibaba.
Forecasts from the agriculture and environment sector indicate a massive potential for seafood by-products. Shrimp heads alone could provide 490,000 tonnes of food products, pangasius offcuts 100,000 tonnes, and fish oil 150,000 tonnes annually. By 2030, shrimp by-products could reach 650,000 tonnes worth 80–100 million USD, while pangasius by-products could hit 1.3 million tonnes, valued at over 500 million USD.
Officials highlight that converting by-products into resources requires a strategic approach, supported by policies, investment, and collaboration among businesses and scientists. This transformation not only creates tens of thousands of jobs but also reduces environmental pressure from seafood waste.
Currently, Vietnam generates roughly one million tonnes of seafood by-products annually, yet only a fraction is processed, with the sector’s current value at around 275 million USD—far below its billion-dollar potential.
By turning seafood waste into “blue gold,” Vietnam is setting an example of innovation, sustainability, and economic growth in the global seafood industry.
