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Vietnam Seed Market Size

The Vietnam Seed Market is projected to experience growth over the forecast period, with open-pollinated varieties and hybrid derivatives currently dominating the market. The government's support for locally bred open-pollinated varieties aims to reduce reliance on hybrid seed imports, offering opportunities for poverty alleviation in disadvantaged areas. While transgenic hybrids represent a small portion of the market, their advantages in productivity and adaptability contribute to the faster growth of the hybrid seed sector. The significant adoption of hybrid seeds, particularly maize, underscores the shift towards hybrids, which may pose challenges for the open-pollinated variety segment.

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Market Size of vietnam seed Industry

Vietnam Seed Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 357.4 Million
svg icon Market Size (2030) USD 470.6 Million
svg icon Largest Share by Breeding Technology Open Pollinated Varieties & Hybrid Derivatives
svg icon CAGR (2024 - 2030) 4.69 %
svg icon Fastest Growing by Breeding Technology Hybrids
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Vietnam Seed Market Analysis

The Vietnam Seed Market size is estimated at 357.4 million USD in 2024, and is expected to reach 470.6 million USD by 2030, growing at a CAGR of 4.69% during the forecast period (2024-2030).

357.4 Million

Market Size in 2024 (USD)

470.6 Million

Market Size in 2030 (USD)

5.56 %

CAGR (2017-2023)

4.69 %

CAGR (2024-2030)

Largest Market by Crop Family

70.73 %

value share, Grains & Cereals, 2023

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Rice and corn are the major crops cultivated in the country. Rice is the major staple food crop grown throughout the country, and corn has a high seed replacement rate.

Largest Market by Breeding Technology

56 %

value share, Open Pollinated Varieties & Hybrid Derivatives, 2023

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This is due to the higher area under open-pollinated varieties, especially in the case of rice. The ease of seed production and low input requirements drive the market.

Fastest-growing Market by Crop Family

5.13 %

Projected CAGR, Solanaceae, 2024-2030

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It is the fastest growing due to the increased production and growing demand from the processing industry and its adaptability to wider growing environments.

Fastest-growing Market by Breeding Technology

4.73 %

Projected CAGR, Hybrids, 2024-2030

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Due to inherent characteristics such as high vigor, resistance to biotic and abiotic stresses, high yield, and uniform maturity, the hybrid segment is growing at the fastest rate.

Leading Market Player

5.56 %

market share, Bayer AG, 2022

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Bayer AG is a prominent player in the region with its wider portfolio, which includes high-performance crop varieties that are suitable for local climatic conditions.

The improved traits of hybrid seeds such as higher productivity, wider adaptability, high degree of resistance to biotic and abiotic stresses drive the market

  • Open-pollinated varieties and hybrid derivatives (OPVs) dominated the market in 2022, which accounted for about 56.0% of the Vietnamese seed market. Row crops held about 90.7% of the Vietnamese OPVs seed market in 2022. In Vietnam, the government is promoting locally bred open-pollinated varieties by a restriction on the maximum price that international seed companies can charge. OPVs require fewer inputs and are more affordable for low-income farmers. Reducing the reliance on hybrid seed imports and developing local seeds provides opportunities for poverty reduction in disadvantaged regions.
  • In 2022, transgenic hybrids accounted for 4.8% of the Vietnamese hybrid seed market value due to their higher productivity, wider adaptability, high degree of resistance to insects, and herbicide-tolerant characteristics. Hybrids' wider adaptability is mainly due to their high buffering capacity to environmental fluctuations.​​​ Similarly, the non-transgenic seeds market held more than 95.2% share value in the Vietnamese hybrid seed market in the same year. This is mainly due to the high adoption and high usage of hybrid seeds in the country compared to traditional or inbred seeds. ​​​
  • Maize seeds held the largest share value in the non-transgenic hybrid seed market, with a 36.7% market share value in 2022. According to the Ministry of Agriculture and Rural Development, in Vietnam, all corn fields use hybrid seeds, especially in the northern midland and mountainous regions.​​​Therefore, it can be a restraint for the OPV segment during the forecast period.
  • The ability of hybrid seeds to resist various diseases and the increasing adoption of hybrid corn seeds are anticipated to drive the hybrid seed market at a faster growth rate compared to OPVs during the forecast period.
Vietnam Seed Market

Vietnam Seed Industry Segmentation

Hybrids, Open Pollinated Varieties & Hybrid Derivatives are covered as segments by Breeding Technology. Open Field, Protected Cultivation are covered as segments by Cultivation Mechanism. Row Crops, Vegetables are covered as segments by Crop Type.

  • Open-pollinated varieties and hybrid derivatives (OPVs) dominated the market in 2022, which accounted for about 56.0% of the Vietnamese seed market. Row crops held about 90.7% of the Vietnamese OPVs seed market in 2022. In Vietnam, the government is promoting locally bred open-pollinated varieties by a restriction on the maximum price that international seed companies can charge. OPVs require fewer inputs and are more affordable for low-income farmers. Reducing the reliance on hybrid seed imports and developing local seeds provides opportunities for poverty reduction in disadvantaged regions.
  • In 2022, transgenic hybrids accounted for 4.8% of the Vietnamese hybrid seed market value due to their higher productivity, wider adaptability, high degree of resistance to insects, and herbicide-tolerant characteristics. Hybrids' wider adaptability is mainly due to their high buffering capacity to environmental fluctuations.​​​ Similarly, the non-transgenic seeds market held more than 95.2% share value in the Vietnamese hybrid seed market in the same year. This is mainly due to the high adoption and high usage of hybrid seeds in the country compared to traditional or inbred seeds. ​​​
  • Maize seeds held the largest share value in the non-transgenic hybrid seed market, with a 36.7% market share value in 2022. According to the Ministry of Agriculture and Rural Development, in Vietnam, all corn fields use hybrid seeds, especially in the northern midland and mountainous regions.​​​Therefore, it can be a restraint for the OPV segment during the forecast period.
  • The ability of hybrid seeds to resist various diseases and the increasing adoption of hybrid corn seeds are anticipated to drive the hybrid seed market at a faster growth rate compared to OPVs during the forecast period.
Breeding Technology
Hybrids
Non-Transgenic Hybrids
Transgenic Hybrids
Herbicide Tolerant Hybrids
Insect Resistant Hybrids
Open Pollinated Varieties & Hybrid Derivatives
Cultivation Mechanism
Open Field
Protected Cultivation
Crop Type
Row Crops
Fiber Crops
Cotton
Other Fiber Crops
Forage Crops
Alfalfa
Forage Corn
Other Forage Crops
Grains & Cereals
Corn
Rice
Other Grains & Cereals
Oilseeds
Canola, Rapeseed & Mustard
Soybean
Other Oilseeds
Pulses
Vegetables
Brassicas
Cabbage
Carrot
Cauliflower & Broccoli
Other Brassicas
Cucurbits
Cucumber & Gherkin
Pumpkin & Squash
Other Cucurbits
Roots & Bulbs
Garlic
Onion
Potato
Other Roots & Bulbs
Solanaceae
Chilli
Eggplant
Tomato
Other Solanaceae
Unclassified Vegetables
Asparagus
Spinach
Other Unclassified Vegetables
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Vietnam Seed Market Size Summary

The Vietnam seed market is experiencing a steady expansion, driven by the government's initiatives to promote locally bred open-pollinated varieties (OPVs) and reduce reliance on imported hybrid seeds. OPVs, which require fewer inputs and are more affordable for low-income farmers, dominate the market, particularly in the row crops segment. However, the hybrid seed market is also growing, fueled by the higher productivity and adaptability of transgenic and non-transgenic hybrids. Maize seeds, in particular, hold a significant share in the non-transgenic hybrid seed market, with widespread adoption across the country. The government's restrictions on international seed pricing further bolster the local seed industry, providing opportunities for poverty reduction in disadvantaged regions.

Vietnam's agricultural landscape is characterized by its major production of grains and cereals, with rice and corn being the predominant crops. The Mekong River Delta and the Red River Delta are key regions for rice cultivation, while maize is extensively grown in the northern mountains and central highlands. Despite fluctuations in soybean cultivation due to farmers' shifts to more profitable crops, rising demand from the food and feed industries is expected to stabilize and increase the soybean planting area. The vegetable seed market is also witnessing growth, with high demand for disease-resistant and high-quality seeds, particularly for cucumbers and asparagus. The market is fragmented, with major players like Bayer AG, Enza Zaden, and Groupe Limagrain leading the industry. Recent developments include new seed varieties with enhanced resistance to diseases and strategic acquisitions to expand product portfolios, indicating a dynamic and evolving market landscape.

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Vietnam Seed Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Breeding Technology

      1. 1.1.1 Hybrids

        1. 1.1.1.1 Non-Transgenic Hybrids

        2. 1.1.1.2 Transgenic Hybrids

          1. 1.1.1.2.1 Herbicide Tolerant Hybrids

          2. 1.1.1.2.2 Insect Resistant Hybrids

      2. 1.1.2 Open Pollinated Varieties & Hybrid Derivatives

    2. 1.2 Cultivation Mechanism

      1. 1.2.1 Open Field

      2. 1.2.2 Protected Cultivation

    3. 1.3 Crop Type

      1. 1.3.1 Row Crops

        1. 1.3.1.1 Fiber Crops

          1. 1.3.1.1.1 Cotton

          2. 1.3.1.1.2 Other Fiber Crops

        2. 1.3.1.2 Forage Crops

          1. 1.3.1.2.1 Alfalfa

          2. 1.3.1.2.2 Forage Corn

          3. 1.3.1.2.3 Other Forage Crops

        3. 1.3.1.3 Grains & Cereals

          1. 1.3.1.3.1 Corn

          2. 1.3.1.3.2 Rice

          3. 1.3.1.3.3 Other Grains & Cereals

        4. 1.3.1.4 Oilseeds

          1. 1.3.1.4.1 Canola, Rapeseed & Mustard

          2. 1.3.1.4.2 Soybean

          3. 1.3.1.4.3 Other Oilseeds

        5. 1.3.1.5 Pulses

      2. 1.3.2 Vegetables

        1. 1.3.2.1 Brassicas

          1. 1.3.2.1.1 Cabbage

          2. 1.3.2.1.2 Carrot

          3. 1.3.2.1.3 Cauliflower & Broccoli

          4. 1.3.2.1.4 Other Brassicas

        2. 1.3.2.2 Cucurbits

          1. 1.3.2.2.1 Cucumber & Gherkin

          2. 1.3.2.2.2 Pumpkin & Squash

          3. 1.3.2.2.3 Other Cucurbits

        3. 1.3.2.3 Roots & Bulbs

          1. 1.3.2.3.1 Garlic

          2. 1.3.2.3.2 Onion

          3. 1.3.2.3.3 Potato

          4. 1.3.2.3.4 Other Roots & Bulbs

        4. 1.3.2.4 Solanaceae

          1. 1.3.2.4.1 Chilli

          2. 1.3.2.4.2 Eggplant

          3. 1.3.2.4.3 Tomato

          4. 1.3.2.4.4 Other Solanaceae

        5. 1.3.2.5 Unclassified Vegetables

          1. 1.3.2.5.1 Asparagus

          2. 1.3.2.5.2 Spinach

          3. 1.3.2.5.3 Other Unclassified Vegetables

Vietnam Seed Market Size FAQs

The Vietnam Seed Market size is expected to reach USD 357.42 million in 2024 and grow at a CAGR of 4.69% to reach USD 470.65 million by 2030.

In 2024, the Vietnam Seed Market size is expected to reach USD 357.42 million.

Seed Market in Vietnam Report Snapshots

Vietnam Seed Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030