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Vietnam Crop Protection Chemicals Market Size

The Vietnam crop protection chemicals market is experiencing growth driven by the country's agricultural development and the expansion of commercial crop cultivation. As a significant producer and exporter of various agricultural commodities, Vietnam's market size is influenced by the need to protect crops from diseases and pests, particularly in major crops like rice, coffee, and natural rubber. The reliance on fungicides, insecticides, and herbicides is crucial for maintaining optimal yields and addressing challenges such as nematode infestations. This ongoing demand is expected to contribute to the market's expansion over the forecast period.

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Market Size of vietnam crop protection chemicals Industry

Vietnam Crop Protection Chemicals Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 2.34 Billion
svg icon Market Size (2029) USD 2.81 Billion
svg icon Largest Share by Function Insecticide
svg icon CAGR (2024 - 2029) 3.74 %
svg icon Fastest Growing by Function Molluscicide
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 Crop Protection Chemicals Market Analysis

The Vietnam Crop Protection Chemicals Market size is estimated at 2.34 billion USD in 2024, and is expected to reach 2.81 billion USD by 2029, growing at a CAGR of 3.74% during the forecast period (2024-2029).

2.34 Billion

Market Size in 2024 (USD)

2.81 Billion

Market Size in 2029 (USD)

6.37 %

CAGR (2017-2023)

3.74 %

CAGR (2024-2029)

Largest Segment By Function

66.19 %

value share, Insecticide, 2023

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Due to climate change, insect pests are increasingly posing a significant threat to Vietnam's agriculture sector, these factors are driving the insecticide market.

Fastest-growing Segment by Function

6.81 %

Projected CAGR, Molluscicide, 2024-2029

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In 2019, 33 molluscicides were authorized for use in Vietnam. The most commonly used molluscicides include Niclosamide and Metaldehyde.

Largest Segment by Crop Type

64.71 %

value share, Grains & Cereals, 2023

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Grains and cereals face numerous challenges, particularly pests and diseases. To address these challenges, farmers heavily rely on crop protection chemical products.

Leading Market Player

6.21 %

market share, UPL limited, 2022

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UPL entered into a long-term agreement with FMC under which FMC grants access to its insecticide active ingredient (rysynazypyr) for use in UPL's product formulations.

Second Leading Market Player

5.51 %

market share, Syngenta Group, 2022

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Syngenta launched Victrato, a new seed treatment chemical to fight harmful nematodes and illnesses that affect various crops, including soybean, corn, cereal, cotton, and rice.

The demand for pesticides is driven by the need for effective control of pests and diseases

  • The market for crop protection chemicals in Vietnam was valued at USD 2.2 billion in 2022. The country is a significant producer and exporter of diverse agricultural commodities.
  • In 2022, fungicides is the second largest segment with a share of 16.7% of the Vietnamese crop protection chemicals market. Farmers in the country rely on fungicides to protect crops from fungal diseases and ensure optimal yields. The market is driven by the cultivation of major crops such as grains, cereals, pulses, oilseeds, fruits, and vegetables, which are susceptible to fungal infections like rust, Fusarium wilt, root rot, powdery mildew, and common blight. Insecticides and herbicides held shares of 66.4% and 15.1% in 2022.
  • Nematode infestations pose a threat to crops like rice, coffee, vegetables, and fruit orchards. Rice, which covers 80% of cultivated land, suffers annual yield losses of up to 10-20%, increasing the need for nematicide application. Such factors may lead to the growth of this segment.
  • The growth of the crop protection chemicals market in Vietnam is closely linked to the ongoing agricultural development and the expansion of commercial crop cultivation in the country. Vietnam has witnessed significant progress in the agricultural sector, particularly in crops like natural rubber, for which it ranks as the third-largest global producer.
  • The harvested area for natural rubber experienced a notable increase of 9.1% from 2018, reaching 752.1 thousand hectares in 2022. As the agricultural sector continues to expand, there will be a corresponding increase in the demand for various crop protection chemicals to safeguard crops and enhance yields. Thus, the market is expected to record a CAGR of 3.7% during the forecast period (2023-2029).
Vietnam Crop Protection Chemicals Market

Vietnam Crop Protection Chemicals Industry Segmentation

Fungicide, Herbicide, Insecticide, Molluscicide, Nematicide are covered as segments by Function. Chemigation, Foliar, Fumigation, Seed Treatment, Soil Treatment are covered as segments by Application Mode. Commercial Crops, Fruits & Vegetables, Grains & Cereals, Pulses & Oilseeds, Turf & Ornamental are covered as segments by Crop Type.

  • The market for crop protection chemicals in Vietnam was valued at USD 2.2 billion in 2022. The country is a significant producer and exporter of diverse agricultural commodities.
  • In 2022, fungicides is the second largest segment with a share of 16.7% of the Vietnamese crop protection chemicals market. Farmers in the country rely on fungicides to protect crops from fungal diseases and ensure optimal yields. The market is driven by the cultivation of major crops such as grains, cereals, pulses, oilseeds, fruits, and vegetables, which are susceptible to fungal infections like rust, Fusarium wilt, root rot, powdery mildew, and common blight. Insecticides and herbicides held shares of 66.4% and 15.1% in 2022.
  • Nematode infestations pose a threat to crops like rice, coffee, vegetables, and fruit orchards. Rice, which covers 80% of cultivated land, suffers annual yield losses of up to 10-20%, increasing the need for nematicide application. Such factors may lead to the growth of this segment.
  • The growth of the crop protection chemicals market in Vietnam is closely linked to the ongoing agricultural development and the expansion of commercial crop cultivation in the country. Vietnam has witnessed significant progress in the agricultural sector, particularly in crops like natural rubber, for which it ranks as the third-largest global producer.
  • The harvested area for natural rubber experienced a notable increase of 9.1% from 2018, reaching 752.1 thousand hectares in 2022. As the agricultural sector continues to expand, there will be a corresponding increase in the demand for various crop protection chemicals to safeguard crops and enhance yields. Thus, the market is expected to record a CAGR of 3.7% during the forecast period (2023-2029).
Function
Fungicide
Herbicide
Insecticide
Molluscicide
Nematicide
Application Mode
Chemigation
Foliar
Fumigation
Seed Treatment
Soil Treatment
Crop Type
Commercial Crops
Fruits & Vegetables
Grains & Cereals
Pulses & Oilseeds
Turf & Ornamental
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Vietnam Crop Protection Chemicals Market Size Summary

The Vietnam Crop Protection Chemicals Market is experiencing steady growth, driven by the country's role as a significant producer and exporter of agricultural commodities. The market is characterized by a diverse range of crop protection chemicals, including fungicides, insecticides, and herbicides, which are essential for safeguarding crops from pests and diseases. The cultivation of major crops such as grains, cereals, pulses, oilseeds, fruits, and vegetables necessitates the use of these chemicals to ensure optimal yields and combat threats like fungal infections and nematode infestations. The agricultural sector's expansion, particularly in crops like natural rubber, further fuels the demand for crop protection chemicals, as farmers seek to enhance productivity and mitigate losses due to pests and diseases.

Vietnam's reliance on imported active ingredients for crop protection chemicals highlights the market's import-dependent nature, with limited domestic production capabilities. This dependency, coupled with challenges such as shifting climate conditions and rising pest populations, has led to increased demand for various pesticides. The market is fragmented, with major players like Bayer AG, FMC Corporation, Nufarm Ltd, Syngenta Group, and UPL Limited actively participating in the sector. Collaborations and partnerships among these companies aim to develop innovative and eco-friendly solutions to address the evolving challenges in crop protection. As the agricultural sector continues to grow, the market for crop protection chemicals in Vietnam is poised for further expansion, driven by the need to protect crops and enhance agricultural productivity.

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Vietnam Crop Protection Chemicals Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Function

      1. 1.1.1 Fungicide

      2. 1.1.2 Herbicide

      3. 1.1.3 Insecticide

      4. 1.1.4 Molluscicide

      5. 1.1.5 Nematicide

    2. 1.2 Application Mode

      1. 1.2.1 Chemigation

      2. 1.2.2 Foliar

      3. 1.2.3 Fumigation

      4. 1.2.4 Seed Treatment

      5. 1.2.5 Soil Treatment

    3. 1.3 Crop Type

      1. 1.3.1 Commercial Crops

      2. 1.3.2 Fruits & Vegetables

      3. 1.3.3 Grains & Cereals

      4. 1.3.4 Pulses & Oilseeds

      5. 1.3.5 Turf & Ornamental

Vietnam Crop Protection Chemicals Market Size FAQs

The Vietnam Crop Protection Chemicals Market size is expected to reach USD 2.34 billion in 2024 and grow at a CAGR of 3.74% to reach USD 2.81 billion by 2029.

In 2024, the Vietnam Crop Protection Chemicals Market size is expected to reach USD 2.34 billion.

Vietnam Crop Protection Chemicals Market Report Snapshots

Vietnam Crop Protection Chemicals Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029