Vietnam Hydroponics Market, By Type (Aggregate Systems, Liquid Systems); By Equipment (HVAC, LED, Grow Light, Control Systems, Irrigation Systems, Others); By Input (Nutrient, Growth Media); By Farming Method (Indoor, Outdoor); By Crop Type (Lettuce, Sweet Potato, Tomato, Cucumber, Melon, Others), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Vietnam Hydroponics Market Size Set to Cross USD 90.7 Million by 2029
Vietnam hydroponics market is gaining traction because of the limited arable land and increasing demand for high-quality and safe produce.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam hydroponics market size at USD 50.19 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam hydroponics market size to grow at a CAGR of 10.37% reaching a value of USD 90.73 million by 2029. Major growth factors for the Vietnam hydroponics market include a focus on getting high output from limited arable land and an increasing demand for high-quality and safe produce.
Vietnam Hydroponics Market – Overview
Hydroponics is a subset of hydroculture. In hydroponics, plants are grown without soil using water-based mineral fertilizer solutions. These plants are typically agricultural or medicinal. Hydroponics aids in increasing agricultural productivity in places with barren soil. In the same amount of land, they generate three to 10 times as much food as traditional agriculture. Additionally, the plants grow in half the time. Herbicides and pesticides are not required since the crops grown in this way are healthier and less vulnerable to pests and illnesses.
Vietnam Hydroponics Market
Segmental Information
Vietnam Hydroponics Market – By Equipment
Based on equipment, the Vietnam hydroponics market is segmented into HVAC, LED, grow lights, control systems, irrigation systems, and others. The HVAC segment accounts for the highest market share. The HVAC system may be the most crucial component of a hydroponic farming operation. The use of LED lighting generates a lot of heat to get the correct spectrum of light for plant growth. To provide the right spectrum of light for development, LED lights are used, however, they generate a lot of heat. To remove the heat and guarantee appropriate ventilation to avoid cold spots, HVAC equipment is also used in the same settings.
Impact of COVID-19 on Vietnam Hydroponics Market
The Vietnam hydroponics market growth was hindered during the initial COVID-19 pandemic outbreak. This is mainly due to the restrictions on the supply chain and cross-border trade which directly affected the supply of input materials for the hydroponics system. However, the market is anticipated to gain new growth opportunities in the post-COVID-19 period. Vietnam focused on overcoming the disruptions in the global supply chain and boosting the local production of crops and vegetables through hydroponics systems to meet the rising domestic demand for agricultural produce.
Competitive Landscape
Major players operating in the Vietnam hydroponics market include GreenFarm Vietnam, CityFarm Vietnam, VietGAP Hydroponic Vegetable, Duong Minh hydroponics, Fresh Studio Innovations Vietnam, Urban Farm Vietnam, Agripolis Vietnam, Nông Sản Sạch Sản Việt, Vertical Farm Vietnam, and Greenhouse Vietnam.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Hydroponics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Hydroponics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Vietnam Hydroponics Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Drivers
- 3.2.1.1. Limited Arable Land
- 3.2.1.2. Increasing Demand for High-Quality and Safe Produce
- 3.2.1.3. Water Resource Management
- 3.2.2. Restraints
- 3.2.2.1. High Initial Setup Costs
- 3.2.2.2. Technical Knowledge and Expertise
- 3.2.3. Opportunities
- 3.2.3.1. Urban Farming and Vertical Agriculture
- 3.2.3.2. Export Potential
- 3.2.4. Challenges
- 3.2.4.1. Market Acceptance and Consumer Awareness
- 3.2.4.2. Scalability and Commercial Viability
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Vietnam Hydroponics Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Aggregate Systems
- 4.2.1.2. Liquid Systems
- 4.2.2. By Equipment
- 4.2.2.1. HVAC
- 4.2.2.2. LED Grow Light
- 4.2.2.3. Control Systems
- 4.2.2.4. Irrigation Systems
- 4.2.2.5. Others
- 4.2.3. By Input
- 4.2.3.1. Nutrient
- 4.2.3.2. Growth Media
- 4.2.4. By Farming Method
- 4.2.4.1. Indoor
- 4.2.4.2. Outdoor
- 4.2.5. By Crop Type
- 4.2.5.1. Lettuce
- 4.2.5.2. Sweet Potato
- 4.2.5.3. Tomato
- 4.2.5.4. Cucumber
- 4.2.5.5. Melon
- 4.2.5.6. Others
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. South Africa Insurance Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of Covid–19 on Vietnam Hydroponics Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. GreenFarm Vietnam
- 7.2. CityFarm Vietnam
- 7.3. VietGAP Hydroponic Vegetable
- 7.4. Duong Minh Hydroponics
- 7.5. Fresh Studio Innovations Vietnam
- 7.6. Urbanfarm Vietnam
- 7.7. Agripolis Vietnam
- 7.8. Nông Sản Sạch Sản Việt
- 7.9. Vertical Farm Vietnam
- 7.10. Greenhouse Vietnam
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Vietnam Hydroponics Segmentation
- Figure 2 Vietnam Hydroponics Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Vietnam Hydroponics Market Size, By Value (USD Million), 2019–2029
- Figure 5 Vietnam Hydroponics Market Share, By Type, By Value, 2019–2029
- Figure 6 Vietnam Hydroponics Market Share, By Equipment, By Value, 2019–2029
- Figure 7 Vietnam Hydroponics Market Share, By Input, By Value, 2019–2029
- Figure 8 Vietnam Hydroponics Market Share, By Firming Method, By Value, 2019–2029
- Figure 9 Vietnam Hydroponics Market Share, By Crop Types, By Value, 2019–2029
- List of Tables
- Table 1 Vietnam Hydroponics Market Size, By Value (USD Million), 2019–2029
- Figure 2 Vietnam Hydroponics Market Share, By Type, By Value, 2019–2029
- Figure 3 Vietnam Hydroponics Market Share, By Equipment, By Value, 2019–2029
- Figure 4 Vietnam Hydroponics Market Share, By Input, By Value, 2019–2029
- Figure 5 Vietnam Hydroponics Market Share, By Firming Method, By Value, 2019–2029
- Figure 6 Vietnam Hydroponics Market Share, By Crop Types, By Value, 2019–2029
- Table 7 GreenFarm Vietnam Company Overview
- Table 8 GreenFarm Vietnam Financial Overview
- Table 9 CityFarm Vietnam Company Overview
- Table 10 CityFarm Vietnam Financial Overview
- Table 11 VietGAP Hydroponic Vegetable Company Overview
- Table 12 VietGAP Hydroponic Vegetable Financial Overview
- Table 13 Duong Minh Hydroponics Company Overview
- Table 14 Duong Minh Hydroponics Financial Overview
- Table 15 Fresh Studio Innovations Vietnam Company Overview
- Table 16 Fresh Studio Innovations Vietnam Financial Overview
- Table 17 Urbanfarm Vietnam Company Overview
- Table 18 Urbanfarm Vietnam Financial Overview
- Table 19 Agripolis Vietnam Company Overview
- Table 20 Agripolis Vietnam Financial Overview
- Table 21 Nông Sản Sạch Sản Việt Company Overview
- Table 22 Nông Sản Sạch Sản Việt Financial Overview
- Table 23 Vertical Farm Vietnam Company Overview
- Table 24 Vertical Farm Vietnam Financial Overview
- Table 25 Greenhouse Vietnam Company Overview
- Table 26 Greenhouse Vietnam Financial Overview
- Table 27 Other Prominent Players Company Overview
- Table 28 Other Prominent Players Financial Overview
Research Assistance
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