Collagen and gelatin from pangasius skin boost the industry’s value

Data from the Viet Nam Association of Seafood Exporters and Producers (VASEP) show that in the first nine months of 2025, Viet Nam’s pangasius exports reached nearly USD 1.6 billion, up 9% compared to the same period in 2024, signaling a positive recovery after a prolonged decline.

The market is seeing significant shifts: CPTPP regions, Brazil, and Thailand are gaining momentum, while China-Hong Kong and the United States are slowing down.

Amid these market fluctuations, the role of leading enterprises such as Vinh Hoan Joint Stock Company has become increasingly important, as they not only maintain growth momentum but also elevate the brand of Vietnamese pangasius in international markets.

Mr. Vo Phu Duc, Director of Vinh Hoan Collagen Joint Stock Company, stated: “Vinh Hoan is currently one of the leading enterprises in Viet Nam’s pangasius industry, with stable exports to major markets including the United States, Europe, Japan, and South Korea.”

In Viet Nam, Vinh Hoan Joint Stock Company (Vinh Hoan Seafood, stock code VHC - HoSE) is the first enterprise to extract collagen from pangasius skin successfully. The enterprise is also the first collagen producer in the world to achieve ASC International Sustainability Certification, with 100% natural products, no artificial colors, no additives, or preservatives, aiming to protect the environment and society.

As a pioneer in the closed-loop production model, Vinh Hoan manages the entire value chain, from farming and processing to export and the production of fishmeal and fish oil. Thanks to this approach, the company maintains steady revenue growth, reaching USD 300-400 million annually.

Beyond its traditional product lines, such as pangasius fillets and processed or breaded pangasius, Vinh Hoan has recently ventured into the premium segment. Its high-end products have been well received in the Japanese market and are now served in sushi restaurants - a milestone that underscores both the quality and the international reputation of Vietnamese pangasius.

Simultaneously, Vinh Hoan has been actively promoting the development of value-added products, including collagen peptides and gelatin derived from pangasius skin. This represents a significant breakthrough, increasing the utility value of by-products by four to five times, while also creating a new growth path for the entire pangasius industry.

As a major pangasius producer with a self-sufficient supply of raw materials, Vinh Hoan ensures a stable production capacity of collagen through its 760-hectare, fully integrated, closed-loop farming system, which processes around 1,000 tons of raw materials each day. All operations are fully certified under ASC, BAP 4-star, and GlobalGAP standards.

Mr. Vo Phu Duc estimates that by fully utilizing by-products, the overall value of Vinh Hoan’s pangasius farming and processing chain could increase by 15-25%. Compared to collagen extracted from other sources, such as bovine or porcine skins, marine fish skin offers superior absorption, excellent bioavailability, and a lower risk of disease transmission.

Another key advantage is that these fish-derived products face no religious restrictions, particularly in regions with significant Muslim populations, thereby opening a very broad potential market. At present, Vinh Hoan exports 100% of these products, serving a diverse portfolio of major international clients and demonstrating strong potential for future expansion.

Mr. Duc emphasized: “Despite facing numerous challenges in exports, such as seasonal price fluctuations and technical barriers from importing markets, these value-added products have enabled Vinh Hoan to optimize the entire production chain, enhance the overall value of the industry, and increase the competitiveness of Vietnamese products in regional and global markets, ensuring that pangasius maintains its export advantage.”

A sustainable development mindset has also laid the foundation for Vinh Hoan’s expansion into green production. The company leads in the circular economy by utilizing by-products to produce fertilizers, reducing emissions, and ensuring a stable supply for the market. At the same time, it has implemented energy-saving projects, such as installing solar panels, conducting energy audits, and optimizing production costs - measures that demonstrate a strong commitment to green growth and sustainable development.

According to a recent forecast by Rong Viet Securities, Vinh Hoan Seafood's C&G segment will maintain a double-digit CAGR growth rate for the period 2024 - 2032, higher than the overall growth potential of the collagen market as the company increases factory capacity to meet consumption demand.