Vietnam Biopesticides Market - Growth, Trends, and Forecast (2020 - 2025)

The Vietnam biopesticides market is segmented by type into bio-insecticides, bio-herbicides, bio-fungicides, and other biopesticides and by crop type into grains and cereals, oilseeds, fruits and vegetables and other crop types.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

6.4 %

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Market Overview

The Vietnamese biopesticides market is estimated to value USD 30.7 million in 2019and is expected to register a CAGR of 6.4%, during the forecast period (2020-2025). In Vietnam, R&D activities mainly focus on breeding new crop varieties and developing appropriate production technologies for such crops based on the IPM. However, not much has been done to promote organic agriculture, which would be needed if the biopesticides market needs to grow rapidly. Currently, agricultural land occupies 80% of the country’s total area and the country, being a large agricultural producer, offers various opportunities for agrochemical companies. Moreover, Vietnam is shifting toward Hi-tech agricultural practices, for which the State provided VNĐ156.3 billion for 15 such projects. Vipesco, being a local player, is the market leader in biopesticides and is the pioneer of biopesticide manufacturing in Vietnam. 

Scope of the Report

According to the US EPA, biopesticides include naturally occurring substances (biochemical pesticides), microorganisms (microbial pesticides), and pesticidal substances produced by plants (plant-incorporated protectants). The Vietnamese biopesticides market study covers all three types of above mentioned commercial microbial, biochemical pesticides and plant-incorporated protectant products. The corporations in the biopesticides industry operate in B2B as well as B2C business format. However, to eliminate any ‘double-count’ error in the market estimations, bulk buyers procuring biopesticides for retail sale after value-addition through further processing, are not considered as part of the biopesticides market. The report defines the biopesticides market in terms of end-users who procure biopesticides for application in agricultural production only. The end-users include farmers and institutional buyers operating in the agriculture and allied production.

Type
Bio-Insecticides
Bio-Herbicides
Bio-Fungicides
Other Biopesticides
Crop-type
Grains and Cereals
Oilseeds
Fruits and Vegetables
Other Crop Types

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Key Market Trends

Increase in Arable Land

In Vietnam, an increase of 0.2 million hectares of arable land per year was recorded by World-Bank and hence, the use of pesticides and fertilizers are growing in the country. The Vietnamese government has adopted land policies to bring a shift from the collectivized state-controlled agricultural production system to one based on individual farm households in the market place. The total area of agricultural land has increased by 3.2 million hectares and the increase is largely forest land (2.9 million hectares), while the land for long-day crops, such as spinach, lettuce, and some varieties of wheat has increased by 0.27 million hectares.

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Bio-insecticides Dominate the Market

Bio-insecticides is the largest and the fastest-growing segment of the biopesticides industry, and rice utilizes most of the bioinsecticides. The International Rice Research Institute (IRRI) in the past had called for a ban on certain insecticides in rice production as part of its new Action Plan to reduce planthopper damage to the rice crop in Asia, including Viet Nam. All of this has led to a shift toward increased use of bioinsecticides. The development of resistance to chemical insecticides and concerns over the deleterious effects of chemicals on environmental and human safety has provided a strong impetus for the development of microbial control agents in the integrated pest management in Vietnam.

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Competitive Landscape

The Vietnamese biopesticides market is highly fragmented and has the presence of several local and international players. There are over 50 biopesticide firms in Vietnam, most of them are distributors (as opposed to manufacturers) competing in the approximately USD 1 billion crop protection market. The top six firms, however, account for more than 20% of bio-pesticide revenue in Vietnam. More than 50% of the market share is attributed to local companies having a wide distribution network in Vietnam. Vinachem occupies the largest market share in the bio-pesticide segment in Vietnam, owing to its strong R&D, wider product portfolio, and strong foothold in the local market of Vietnam.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Bio-Insecticides

      2. 5.1.2 Bio-Herbicides

      3. 5.1.3 Bio-Fungicides

      4. 5.1.4 Other Biopesticides

    2. 5.2 Crop-type

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Other Crop Types

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Vipesco

      2. 6.3.2 UPL

      3. 6.3.3 Certis

      4. 6.3.4 Valent Biosciences Corporation

      5. 6.3.5 Nicotex Corporation

      6. 6.3.6 Can Tho Fertilizer & Chemical Jsc

      7. 6.3.7 Isagro

      8. 6.3.8 Anh Viet Co. Ltd

      9. 6.3.9 Baconco Vietnam

      10. 6.3.10 Key Plex

      11. 6.3.11 Co. Investment and Development of Sustainable Agriculture

      12. 6.3.12 Agriinfotech INC.

      13. 6.3.13 Metchem (Shanghai Megchem Company Ltd)

      14. 6.3.14 Seipasa

      15. 6.3.15 Marrone Bio Innovations

      16. 6.3.16 Bioway-organic

      17. 6.3.17 Binh Dien Fertilizer Joint Stock Company

      18. 6.3.18 Song Gianh Fertilizer Company

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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