Market Size of vietnam vegetable seed Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 73.46 Million |
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Market Size (2030) | USD 109.7 Million |
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Largest Share by Breeding Technology | Hybrids |
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CAGR (2024 - 2030) | 6.91 % |
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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 Vegetable Seed Market Analysis
The Vietnam Vegetable Seed Market size is estimated at 73.46 million USD in 2024, and is expected to reach 109.7 million USD by 2030, growing at a CAGR of 6.91% during the forecast period (2024-2030).
73.46 Million
Market Size in 2024 (USD)
109.7 Million
Market Size in 2030 (USD)
8.37 %
CAGR (2017-2023)
6.91 %
CAGR (2024-2030)
Largest Market by Crop Family
23.11 %
value share, Roots & Bulbs, 2023
It is the largest due to the increase in market value, the increase in demand from processing industries, and the availability of high-yielding varieties in the market.
Largest Market by Breeding Technology
74.04 %
value share, Hybrids, 2023
The high share of hybrids is associated with the increasing area under hybrids, the comparatively higher seed replacement rate, high yield, and disease resistance.
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
7.29 %
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
23.54 %
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.
Hybrids dominated the market due to the high adaption and availability of hybrid seeds are driving the market growth
- In Vietnam, hybrid vegetable seeds dominated the market, accounting for 73.7% of the vegetable seed market in 2022. This is mainly due to the high adaption and availability of hybrid seeds compared to open-pollinated varieties and hybrid derivatives, where the adaptability is low.
- The unclassified vegetables hybrid seed segment held a major share value in the vegetable seed market with 34.5% in 2022, followed by roots and bulbs seeds. Among vegetables, cabbage is largely cultivated, and increased consumption of cabbage is estimated to increase the demand for seeds. Farmers can grow healthier, more nutrient crops with hybrid vegetable seeds that are also climate-resistant, need less irrigation, protection, and fertilizer, and have shorter production cycles.
- Open-pollinated varieties and hybrid derivatives accounted for a market share of 26.3% in 2022. The low share is mainly due to a preference for high-yielding and disease-resistant hybrids. Roots and bulbs crops dominated the open-pollinated varieties and hybrid derivatives seed market, accounting for 31.3% of the market value, followed by unclassified vegetables at 27.7%, cucurbits at 15.7%, Solanaceae at 14.2%, and brassicas at 11.1% in 2022.
- More than 80% of the hybrid seeds are imported from other countries, especially Thailand, China, Japan, and South Korea. This is mainly due to the high cost of production, which is difficult to compete with imports.
- Thus, the rising population, increasing demand for food, and high demand for high-yielding hybrid varieties are expected to drive the growth of the hybrid seeds market during the forecast period.
Understand The Key Trends Shaping This Market
