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

Vietnam Fungicide Market Analysis

The Vietnam Fungicide Market size is estimated at 408.3 million USD in 2025, and is expected to reach 497.1 million USD by 2030, growing at a CAGR of 4.01% during the forecast period (2025-2030).

Vietnam's agricultural sector is undergoing significant transformation, characterized by the expansion and diversification of cultivation areas to meet growing domestic and international demand. The country has emerged as a major agricultural producer, with natural rubber cultivation reaching 752.1 thousand hectares in 2022, establishing Vietnam as the third-largest producer globally. This agricultural expansion has been accompanied by modernization efforts in farming practices, including the adoption of advanced fungicide technologies and sustainable farming methods. The government's focus on agricultural development has led to increased investment in infrastructure and support for farmers in implementing modern farming techniques, particularly in high-value crops such as fruits, vegetables, and commercial crops.

The fungicide industry in Vietnam is experiencing notable technological advancements across various application methods, with particular emphasis on precision agriculture and sustainable solutions. Foliar application has emerged as the dominant method due to its effectiveness and widespread applicability across different crop types. The industry has witnessed significant improvements in crop protection product formulations and application technologies, leading to enhanced efficiency and reduced environmental impact. These technological developments are complemented by increasing farmer awareness and education about proper fungicide application methods and timing, contributing to more effective disease management practices.

The market landscape is characterized by strategic consolidation and partnerships among key industry players. Major agricultural companies are actively expanding their presence through various strategic initiatives, including research and development investments, product innovations, and strategic collaborations. For instance, Bayer formed a new partnership with Oerth Bio in 2023 to enhance crop protection product technology and create more eco-friendly solutions. The industry has also seen increased focus on developing specialized solutions for specific crop types, with companies investing in research to address region-specific challenges and disease pressures.

Environmental sustainability and food security considerations are increasingly shaping market dynamics, with growing emphasis on developing eco-friendly fungicide solutions. The industry has witnessed a shift toward sustainable farming practices, with increasing demand for agrochemical solutions that offer effective disease control while minimizing environmental impact. This trend is reflected in the rising consumption of soybean meal feed, which reached 6,050 thousand metric tons in MY 2022/23, indicating the growing importance of plant protection chemicals in ensuring food security. Companies are responding by developing new formulations that provide improved efficacy while meeting stringent environmental standards, demonstrating the industry's commitment to balancing agricultural productivity with environmental stewardship.

Vietnam Fungicide Market Trends

The changing climate and rising disease pressure are expected to drive the consumption of fungicides

• The usage of fungicides in Vietnam experienced a notable increase of 31.2 grams per hectare between 2019 and 2022. This can be attributed to several factors that have contributed to the growing demand for fungicides in agricultural practices and plant protection.
• Vietnam's agricultural acreage increased by 1.7% ha in 2022 from the previous year. The expansion of agricultural production and the desire to enhance crop yields and quality are expected to increase the usage of fungicides. Farmers in Vietnam are striving to meet the growing demand for food and improve the productivity of their crops.
• Changing climatic conditions and environmental factors are also expected to drive the consumption of fungicides in Vietnam. Shifts in temperature and humidity levels can create favorable conditions for the development and spread of fungal diseases. As a result, farmers are expected to increasingly rely on fungicides to mitigate the risks associated with these diseases and safeguard their crops.
• The increasing awareness and knowledge about the importance of disease management and crop protection have driven the adoption of fungicides among farmers in Vietnam. The shift in mindset toward disease prevention and management has fueled the demand for fungicides in the country.
• Additionally, advancements in fungicide formulations and the availability of a wide range of effective and targeted fungicide products have also contributed to increased usage. The development of innovative fungicides with improved efficacy and safety profiles has provided farmers with more options for disease control. This has further encouraged the adoption of fungicides as part of their integrated pest management strategies.

Increase in the fungal diseases, coupled with the dependence on imports for these active ingredients in the country, may drive the prices of these active ingredients

• Vietnam has a wide range of agroclimatic regions. For example, the central and northern provinces experience a cool to cold winter that favors temperate pathogens. The low temperatures inhibit the growth of some crops, making them more susceptible to seedlings and other diseases. Additionally, the yearly weather cycle includes very wet and dry periods. Such weather can also lead to crop stress and favor some diseases, especially of the roots and stems caused by pathogens. Tebuconazole, azoxystrobin, and metalaxyl are commonly used fungicide-active ingredients in Vietnam.
• Tebuconazole uses a systematic fungicide valued at USD 8.7 thousand per metric ton in 2022. Tebuconazole is known to treat rust fungus, sheath blight, leaf spot, and anthracnose. Vietnam imports most of its tebuconazole from China, Germany, and India.
• Azoxystrobin is a broad-spectrum fungicide active against fungal pathogens belonging to oomycetes, ascomycetes, deuteromycetes, and basidiomycetes. Owing to the increase in infestation of fungi like Fusarium and Trichoderma, the price of azoxystrobin increased from USD 4.0 thousand per metric ton in 2017 to USD 4.6 thousand per metric ton by 2022. Similarly, metalaxyl is a systemic fungicide used to control plant diseases caused by Oomycete fungi, valued at USD 4.4 thousand per metric ton in 2022.
• An increase in fungal diseases, coupled with dependence on imports for these active ingredients, in the country may drive the prices of these active ingredients.

Segment Analysis: Application Mode

Foliar Segment in Vietnam Fungicide Market

The foliar application segment dominates the Vietnam fungicide market, commanding approximately 61% market share in 2024. This significant market position can be attributed to the widespread adoption of foliar application methods across various crops, particularly in grains, cereals, fruits, and vegetables, where foliage is the primary site of disease occurrence. The segment is also experiencing the fastest growth trajectory, projected to expand at around 4% CAGR from 2024 to 2029. This growth is driven by the increasing recognition among farmers of the effectiveness of applying agricultural fungicide directly to the foliage to control fungal diseases. The method's popularity stems from its precise application capabilities, improved absorption rates, and ability to provide quick protection against various fungal pathogens. Additionally, the rising awareness about disease management and the need for effective crop protection product strategies has further strengthened the position of foliar application in Vietnam's fungicide market.

Remaining Segments in Application Mode

The Vietnam fungicide market encompasses several other important application modes, each serving specific agricultural needs. Seed treatment represents a crucial segment, offering preventive protection against seed-borne and soil-borne diseases during the critical early stages of plant development. Chemigation has gained traction as an efficient method of applying fungicide through irrigation systems, particularly beneficial for large-scale farming operations. Soil treatment applications play a vital role in managing soil-borne pathogens and protecting root systems, while fumigation serves as a specialized application method for controlling persistent fungal infections in both soil and storage conditions. These diverse application methods provide farmers with comprehensive solutions for disease management across different crop types and growing conditions, contributing to the overall robustness of Vietnam's fungicide market.

Segment Analysis: Crop Type

Grains & Cereals Segment in Vietnam Fungicide Market

The Grains & Cereals segment dominates the Vietnam fungicide market, commanding approximately 65% market share in 2024. This significant market position is attributed to the segment's large cultivation areas compared to other crops and the high susceptibility of grains and cereals to various fungal diseases such as rust, blast, sheath blight, smut, and powdery mildew. Farmers heavily rely on plant fungicide to protect these staple crops from diseases and ensure high yields, as they play a crucial role in preventing or controlling fungal infections, thereby preserving both the quality and quantity of crops. The segment's dominance is further reinforced by its critical role in Vietnam's food security, where maintaining high-quality produce and meeting market standards necessitates consistent fungicide application throughout the growing season.

Fruits & Vegetables Segment in Vietnam Fungicide Market

The Fruits & Vegetables segment is emerging as the fastest-growing segment in the Vietnam fungicide market, projected to register a growth rate of approximately 4.4% during 2024-2029. This robust growth trajectory is driven by the expansion of fruit and vegetable cultivation areas to meet rising domestic and international demand. Climate change and harmful fungal diseases pose significant threats to fruits and vegetables, leading to yield losses and reducing production and crop quality. The increasing awareness among farmers about the benefits of using biological fungicide to protect crops, coupled with the adoption of improved agricultural practices that include proper and timely application of contact fungicide, is fueling the segment's growth. Additionally, the rising focus on high-value produce and the need for effective disease control measures is expected to sustain this growth momentum.

Remaining Segments in Crop Type

The Commercial Crops, Pulses & Oilseeds, and Turf & Ornamental segments collectively contribute to the diverse application landscape of fungicide in Vietnam. Commercial crops, including key products like rubber and coffee, require specialized fungicide applications to protect high-value yields. The Pulses & Oilseeds segment focuses on protecting crops like soybeans and peanuts from various fungal diseases, while the Turf & Ornamental segment serves the growing demand for disease management in landscaping and ornamental plant cultivation. These segments, though smaller in market share, play vital roles in their respective agricultural sectors and contribute to the overall growth of the fungicide market in Vietnam.

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Along with the report, We also offer a comprehensive and exhaustive data pack with 50+ graphs on insecticide, fungicides, and herbicides consumption per hectare and the average price of active ingredients used in insecticides, fungicides, herbicides, nematicides, and molluscicides. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.