Vietnam Biopesticides - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Vietnam Biopesticides - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

The Vietnam Biopesticides Market size is estimated at USD 15.58 million in 2024, and is expected to reach USD 24.09 million by 2029, growing at a CAGR of 9.11% during the forecast period (2024-2029).

Key Highlights

• Bioherbicides is the Largest Form : Bioherbicides are weed control agents that are biological in nature. Bioherbicides contains invasive genetics that can attack and kill the weeds' defense genetics.
• Bioinsecticides is the Fastest-growing Form : Bioinsecticides are naturally occurring substances derived from various sources, highly effective in small quantities, and only affect target pests with low toxicity.
• Horticultural Crops is the Largest Crop Type : Horticultural crops are consuming more biopesticides in their cultivation compared to other crops, bioherbicides are the most consumed pesticides in the horticultural sector.
• Cash Crops is the Fastest-growing Crop Type : Tea, tobacco, rubber, pepper, cashews, soya beans, and coconut are major crops grown in Vietnam. Biopesticides consumption value in cash crops accounted for 35.5% in 2022.

Vietnam Biopesticides Market Trends

Bioherbicides is the largest Form

• Biopesticides are crop protection products that are safe to use and are based on microorganisms, plant extracts, and other natural compounds. They have a variety of appealing properties for integrated pest management (IPM). Biopesticides encourage the growth of beneficial microorganisms while controlling harmful pests. According to FAO, agricultural pests cause up to 40.0% of crop loss annually.
• Bioherbicides dominate the biopesticides market in the country, and they accounted for a share of 31.5% in 2022. In Vietnam, some genera used as bioherbicides are Colletotrichum, Fusarium, Alternaria, Cercospora, Puccinia, Entyloma, Ascochyta, and Sclerotinia.
• Agroecology policies are developed in Vietnam in order to promote particular agroecological practices like agroforestry, integrated pest management (IPM), integrated crop management (ICM), standardization of agricultural practices organic production, food safety control, and conservation and landscape agriculture policies.
• IPM and ICM are intended to assist farmers in understanding the field ecology, using suitable farming techniques, managing the production system effectively, growing healthy crops, and using fewer pesticides and fertilizers in fields. These policies are expected to propel the biopesticides market in the country.
• Pesticide Action Network (PAN) Asia Pacific (PANAP) is a global organization working to eliminate the harm that pesticide usage causes to people and the environment and advance ecological agriculture based on biodiversity. This program also raises awareness about the negative consequences of pesticides, which is expected to increase the domestic market value of biopesticides by 68.0% during the forecast period (2023-2029).

Vietnam Biopesticides Industry Overview

The Vietnam Biopesticides Market is fragmented, with the top five companies occupying 3.46%. The major players in this market are Corteva Agriscience, Marrone Bio Innovations Inc., UPL, Valent BioSciences LLC and Vipesco (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support