Aquaculture has often been criticized for its environmental impacts, especially efficiencies concerning global fisheries resources for use in aquafeeds among others. However, little attention has been paid to the contribution of coproducts from aquaculture, which can vary between 40% and 70% of the production. These have often been underutilized and could be redirected to maximize the efficient use of resource inputs including reducing the burden on fisheries resources. In this review, we identify strategies to enhance the overall value of the harvested yield including noneffluent processing coproducts for three of the most important global aquaculture species, and discuss the current and prospective utilization of these resources for value addition and environmental impact reduction. The review concludes that in Europe coproducts are often underutilized because of logistical reasons such as the disconnected nature of the value chain, and perceived legislative barriers. However, in Asia, most coproducts are used, often innovatively but not to their full economic potential and sometimes with possible human health and biosecurity risks. These include possible spread of diseased material and low traceability in some circumstances. Full economic and environmental appraisal is long overdue for the current and potential strategies available for coproduct utilization.