Vietnam Crop Protection Chemicals Market - Growth, Trends and Forecasts (2017 - 2022)
Apr. 11 2017
The Vietnam pesticides market is estimated to grow at a CAGR of 6.8% in 2017-2022 period. The market value estimated during 2016 was USD 853.24 million and it is expected that the value will reach to USD XX million by 2022. Currently the market is low regulatory, less technologically advanced and less competitive and has good opportunities for growth in biopesticides segment. Agriculture is the most important economic sector in the country and more than 70% of the Vietnam’s population is dependent on this sector. Currently, agricultural land occupies the 80% of the country’s area and as a large agricultural producer, country offers much opportunities for growth of agrochemical companies.
In Vietnam, the crop protection industry has been witnessing a relatively steady to high growth due to growing demand of agricultural produce in the region. While the prevalence of chemical or synthetic based agrochemicals application in agricultural land would continue, human, animal and environmental health concerns would play key roles in driving growth for safer products like plant growth regulators. Specific major drivers for the agrochemicals industry outlined in this report include Increase in arable land, need of increased productivity and adoption of new farming practices. On the negative side, restraints limiting market growth include environmental and regulatory constraints pertaining agrochemical usages, growing demand for food safety and quality, and market saturation.
By segment, biopesticides are likely to witness the faster growth in comparison to the synthetic chemicals in Vietnam, the biopesticide segment will witness the double digit growth during 2015-2020. By product type, insecticides are the largest crop protection chemicals segment in the region, followed by fungicides and herbicides. Segmentation of this report has included categorizing pesticides as synthetic and biopesticides. By application area, pesticides demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).
The analysis of major companies in the pesticides industry has taken into account strategy adopted, financial revenues and the latest developments in the market. Some of the leading players covered include Monsanto, Uralkali, Intrepid Potash, Makhteshim Agan Industries Ltd., E.I. Du Pont De Nemours & Company, Yara International, Sumitomo Chemical, Nufarm Ltd. and Dow Agrosciences Llc, among others
Key Deliverables in the Study
- Market analysis for the Vietnam Pesticides Market, with region specific assessments and competition analysis.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market.
- Extensively researched competitive landscape section with profiles of major companies along with their market shares.
- Identification and analysis of the macro and micro factors that affect the Vietnam Pesticides Market.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major regions in country where this industry is blooming and to also identify the regions that are still untapped.
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