Market Size of vietnam seed Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 357.4 Million |
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Market Size (2030) | USD 470.6 Million |
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Largest Share by Breeding Technology | Open Pollinated Varieties & Hybrid Derivatives |
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CAGR (2024 - 2030) | 4.69 % |
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Fastest Growing by Breeding Technology | Hybrids |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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
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
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
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
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
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.
Understand The Key Trends Shaping This Market
