The Vietnam biopesticides market is estimated to grow at a CAGR of 16.21% in 2017-2022 period. The market value estimated during 2016 was USD 10.79 million and it is expected that the value will reach to USD XX million by 2022. Currently the market is low regulatory, less technologically advanced and less competitive and has good opportunities for growth in biopesticides segment. Agriculture is the most important economic sector in the country and more than 70% of the Vietnam’s population is dependent on this sector. Currently, agricultural land occupies the 80% of the country’s area and as a large agricultural producer, country offers much opportunities for growth of agrochemical companies.
While the prevalence of chemical or synthetic based agrochemicals application in agricultural land would continue, human, animal and environmental health concerns would play key roles in driving growth for biopesticides. Specific major drivers for the industry outlined in this report include growing awareness and demand for organic food products, growing demand for food safety and quality, high prices of organically produced crops, increased regulations on chemical residue limits and increase in arable land. On the negative side, restraints limiting market growth include high synthetic pesticides demand and easy regulatory structure, low product availability, low consumer awareness of organic pesticides and fertilizers, illegal availability of restricted pesticides at lower cost.
The major categories of organic pesticides includes bioinsecticides, biofungicides, bioherbicides and others. Under others we are covering biomiticides, biorodenticides, household detergents and common plant crush and sprays. By application area, pesticides demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).
The analysis of major companies in the biopesticides industry takes into account the strategy adopted, financial revenues and the latest developments in the market. Some of the leading players in Vietnam biopesticides market covered include Baconco Vietnam, Binh Dien Fertilizer Joint Stock Company, Bioway-Organic 5c, Shanghai Megchem Company ltd, Can Tho Fertilizer & Chemical JSC, ANH VIET Co. Ltd among others.
Key Deliverables in the Study
Market analysis for the Vietnam Biopesticides Market, with region specific assessments and competition analysis. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market. Extensively researched competitive landscape section with profiles of major companies along with their market shares. Identification and analysis of the macro and micro factors that affect the Vietnam Biopesticides Market. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major regions in country where this industry is blooming and to also identify the regions that are still untapped.