Vietnam Agrochemicals Market- Trend Analysis & Forecast
Description
Vietnam Agrochemicals Market Overview:
Vietnam's agrochemicals market, valued at US$ ** billion in 2024, is witnessing steady expansion, backed by a strong agricultural base and the rising need to boost productivity. Agriculture accounted for 11.6% of Vietnam’s GDP in 2024, with crops like rice, coffee, and rubber driving agrochemical demand. Pesticides make up over 65% of the market, with herbicides alone contributing around 37%. The government’s move to ban 16 toxic active ingredients in 2023 has accelerated a shift toward safer and bio-based products. Increased greenhouse farming and exports of fruits and vegetables are also reinforcing market growth.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam agrochemicals market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Vietnam’s push for export-oriented agriculture and crop quality improvement is a key driver, with fruit and vegetable exports hitting US$ ** billion in 2024—a 14% year-over-year increase. The Green Growth Strategy (2021–2030) and new agrochemical regulations are encouraging integrated pest management and sustainable practices. The rise of spraying drones, with adoption growing by 21% in 2023, and digital platforms like NextFarm are further fueling efficient agrochemical usage. In parallel, over US$ 40 million was invested in Vietnamese agtech startups in 2023, fostering innovation in sustainable inputs and advisory technologies.
Market Restraints & Challenges
The sector faces increasing regulatory pressure, with over 200 agrochemical products banned or restricted as of 2024, forcing reformulations and raising R&D costs. Around 15–20% of products in circulation are estimated to be counterfeit or substandard, impacting farm productivity and consumer trust. Vietnam's fragmented distribution network of 30,000 small dealers leads to frequent misuse and inefficiencies. Additionally, dependence on imports for 75% of active ingredients—mainly from China and India—exposes the industry to global price fluctuations and supply disruptions, as seen with a 12% raw material cost surge post-2021.
Market Segmentation
The market is segmented by product type, crop type, and formulation. Pesticides dominate, especially herbicides, accounting for **% of pesticide sales. Nitrogenous fertilizers, led by urea, hold **% of the fertilizer segment. Rice remains the top crop for agrochemical application, using over **% of total pesticide volumes. Fruit crops and vegetables are fast-growing segments, driven by export demand. In 2024, specialty fertilizers made up 7% of sales, while liquid formulations led with over **% market share due to easier application methods and compatibility with mechanized farming.
Competitive Landscape
The market is moderately consolidated with both local and global players. Loc Troi Group leads with a **% share and expanded its bio-agrochemical pipeline in partnership with Sumitomo Chemical in 2023. An Giang Plant Protection JSC, Fito Pharma, and Vinh Hi-Tech are investing in R&D and expanding reach. Global giants like Bayer CropScience and Syngenta target large-scale farms, with Bayer’s outreach program benefiting 60,000 rice farmers in 2023. While Chinese firms offer low-cost options, concerns over quality give an edge to established domestic and international brands with strong dealer networks.
Outlook
Vietnam’s agrochemical market is projected to reach US$ ** billion by 2032, growing at a CAGR of **%. The shift to sustainable farming will see bio-based agrochemicals grow from 7% to 18% of market share by 2032. Precision farming and drone-based spraying will reshape application trends, while regional trade integration and domestic production incentives are expected to strengthen supply chains. Despite challenges in regulation and counterfeit control, Vietnam is positioned to become a central agrochemical hub in Southeast Asia with rising global influence.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2032
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Category (Crop Protection, Plant Nutrition, and PGRs)
Crop Protection (Pesticides)
By Nature (Synthetic Chemicals and Biologicals)
By Type (Insecticides, Herbicides, Fungicides, and Others)
Plant Nutrition Products (Fertilizers)
By Type (Inorganic Fertilizers and Organic Fertilizers)
Inorganic Fertilizers (Straight, Complex, and Specialty Fertilizers (WSF, CRF & SRF, and Micronutrient Fertilizers))
Organic Fertilizers & Biologicals-based Fertilizers (Biofertilizers & Biostimulants)
Plant Growth Regulators (Auxins, Cytokinins, Gibberellins, and Others)
• Companies Profiled: The market players include, Loc Troi Group, An Giang Plant Protection JSC, Vinh Hi-Tech, Fito Pharma, Syngenta Vietnam, Bayer CropScience Vietnam, BASF Vietnam, Vietnam National Chemical Group (Vinachem), ADC Company Ltd., Vipesco (Vietnam Pesticide JSC), Lien Viet Company Ltd., Tien Nong Agrochemical JSC, Thien Sinh Biotech, Sumitomo Chemical Vietnam, HAI Agrochem JSC, and Others.
Please note: It will take 5-6 business days to deliver the report upon receipt the order.
Vietnam's agrochemicals market, valued at US$ ** billion in 2024, is witnessing steady expansion, backed by a strong agricultural base and the rising need to boost productivity. Agriculture accounted for 11.6% of Vietnam’s GDP in 2024, with crops like rice, coffee, and rubber driving agrochemical demand. Pesticides make up over 65% of the market, with herbicides alone contributing around 37%. The government’s move to ban 16 toxic active ingredients in 2023 has accelerated a shift toward safer and bio-based products. Increased greenhouse farming and exports of fruits and vegetables are also reinforcing market growth.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam agrochemicals market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Vietnam’s push for export-oriented agriculture and crop quality improvement is a key driver, with fruit and vegetable exports hitting US$ ** billion in 2024—a 14% year-over-year increase. The Green Growth Strategy (2021–2030) and new agrochemical regulations are encouraging integrated pest management and sustainable practices. The rise of spraying drones, with adoption growing by 21% in 2023, and digital platforms like NextFarm are further fueling efficient agrochemical usage. In parallel, over US$ 40 million was invested in Vietnamese agtech startups in 2023, fostering innovation in sustainable inputs and advisory technologies.
Market Restraints & Challenges
The sector faces increasing regulatory pressure, with over 200 agrochemical products banned or restricted as of 2024, forcing reformulations and raising R&D costs. Around 15–20% of products in circulation are estimated to be counterfeit or substandard, impacting farm productivity and consumer trust. Vietnam's fragmented distribution network of 30,000 small dealers leads to frequent misuse and inefficiencies. Additionally, dependence on imports for 75% of active ingredients—mainly from China and India—exposes the industry to global price fluctuations and supply disruptions, as seen with a 12% raw material cost surge post-2021.
Market Segmentation
The market is segmented by product type, crop type, and formulation. Pesticides dominate, especially herbicides, accounting for **% of pesticide sales. Nitrogenous fertilizers, led by urea, hold **% of the fertilizer segment. Rice remains the top crop for agrochemical application, using over **% of total pesticide volumes. Fruit crops and vegetables are fast-growing segments, driven by export demand. In 2024, specialty fertilizers made up 7% of sales, while liquid formulations led with over **% market share due to easier application methods and compatibility with mechanized farming.
Competitive Landscape
The market is moderately consolidated with both local and global players. Loc Troi Group leads with a **% share and expanded its bio-agrochemical pipeline in partnership with Sumitomo Chemical in 2023. An Giang Plant Protection JSC, Fito Pharma, and Vinh Hi-Tech are investing in R&D and expanding reach. Global giants like Bayer CropScience and Syngenta target large-scale farms, with Bayer’s outreach program benefiting 60,000 rice farmers in 2023. While Chinese firms offer low-cost options, concerns over quality give an edge to established domestic and international brands with strong dealer networks.
Outlook
Vietnam’s agrochemical market is projected to reach US$ ** billion by 2032, growing at a CAGR of **%. The shift to sustainable farming will see bio-based agrochemicals grow from 7% to 18% of market share by 2032. Precision farming and drone-based spraying will reshape application trends, while regional trade integration and domestic production incentives are expected to strengthen supply chains. Despite challenges in regulation and counterfeit control, Vietnam is positioned to become a central agrochemical hub in Southeast Asia with rising global influence.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2032
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Category (Crop Protection, Plant Nutrition, and PGRs)
Crop Protection (Pesticides)
By Nature (Synthetic Chemicals and Biologicals)
By Type (Insecticides, Herbicides, Fungicides, and Others)
Plant Nutrition Products (Fertilizers)
By Type (Inorganic Fertilizers and Organic Fertilizers)
Inorganic Fertilizers (Straight, Complex, and Specialty Fertilizers (WSF, CRF & SRF, and Micronutrient Fertilizers))
Organic Fertilizers & Biologicals-based Fertilizers (Biofertilizers & Biostimulants)
Plant Growth Regulators (Auxins, Cytokinins, Gibberellins, and Others)
• Companies Profiled: The market players include, Loc Troi Group, An Giang Plant Protection JSC, Vinh Hi-Tech, Fito Pharma, Syngenta Vietnam, Bayer CropScience Vietnam, BASF Vietnam, Vietnam National Chemical Group (Vinachem), ADC Company Ltd., Vipesco (Vietnam Pesticide JSC), Lien Viet Company Ltd., Tien Nong Agrochemical JSC, Thien Sinh Biotech, Sumitomo Chemical Vietnam, HAI Agrochem JSC, and Others.
Please note: It will take 5-6 business days to deliver the report upon receipt the order.
Table of Contents
165 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1. Objectives & Scope of the Study
- 2.2. Definitions & Economic Importance
- 2.3. Research Methodology
- 2.4. Factors and Decision Matrix Analysis
- 2.5. Limitations & Challenges
- 3. Product/ Market Overview
- 3.1. Agriculture and Agrochemicals Use Trend
- 3.2. Vietnam Agrochemicals Industry & Key Product Categories
- 3.3. Production Process, Raw Materials, Standard Forms, and Packaging
- 3.4. Vietnam Agrochemicals Self-sufficiency Analysis
- 3.5. Regulatory Analysis
- 4. Vietnam: Country Profile
- 5. Global Agrochemicals Market: An Overview
- 6. Vietnam Agrochemicals Market Growth Factors Analysis
- 6.1. Drivers and Restraints Analysis
- 6.2. Challenges and Opportunities Analysis
- 6.3. Vietnam Agrochemicals Industry SWOT Analysis
- 6.4. Vietnam Agrochemicals Market PESTEL Analysis
- 6.5. Vietnam Agrochemicals Market Porter's Five Forces analysis
- 7. Vietnam Agrochemicals Market: Supply-Demand Analysis
- 7.1. Vietnam Agrochemicals Production Trend
- 7.2. Domestic Consumption
- 7.3. Import/Export Demand
- 7.4. Agrochemicals Supply Chain Analysis
- 7.5. Agrochemicals Product Variants
- 8. Vietnam Agrochemicals Market: Segmentation Analysis
- 8.1. Agrochemicals Market, by Category
- 8.1.1. Crop Protection
- 8.1.2. Plant Nutrition
- 8.1.3. PGRs
- 8.2. Crop Protection Chemical Products (Pesticides)
- 8.2.1. By Nature
- 8.2.1.1. Synthetic Chemicals
- 8.2.1.2. Biologicals
- 8.2.2. By Type
- 8.2.2.1. Insecticides
- 8.2.2.2. Herbicides
- 8.2.2.3. Fungicides
- 8.2.2.4. Others
- 8.3. Plant Nutrition Products (Fertilizers)
- 8.3.1. By Nature
- 8.3.1.1. Inorganic Fertilizers
- 8.3.1.2. Organic Fertilizers
- 8.3.2. By Type
- 8.3.2.1. Straight & Complex Fertilizers
- 8.3.2.2. Specialty Fertilizers
- 8.3.2.2.1. Water-soluble Fertilizers (WSF)
- 8.3.2.2.2. CRF & SRF
- 8.3.2.2.3. Micronutrient Fertilizers
- 8.3.2.3. Organic Fertilizers
- 8.3.2.3.1. Organic Mineral Fertilizers
- 8.3.2.3.2. Biologicals-based Fertilizers
- 9. Vietnam Agrochemicals Market: Trade (Export & Import) Analysis
- 9.1. Agrochemicals Export Trend Analysis
- 9.2. Top 5 Import/Export Destinations/Origins of Vietnam Agrochemicals
- 9.3. Analysis on Countries Importing Agrochemicals from Vietnam
- 9.4. List of Key Companies Exporting Agrochemicals (Sellers)
- 9.5. List of Key Companies Importing Agrochemicals (Overseas Buyers)
- 10. Vietnam Agrochemicals Market: Price Trend Analysis
- 10.1. Domestic Price Trend
- 10.2. Trade Price Trend
- 10.3. Price Seasonality & Price Pattern Analysis
- 10.4. Price Events Analysis
- 11. Competitive Analysis
- 11.1. Vietnam Agrochemicals Market Mapping
- 11.2. Company Profiles
- 11.2.1. Loc Troi Group
- 11.2.2. An Giang Plant Protection JSC
- 11.2.3. Vinh Hi-Tech
- 11.2.4. Fito Pharma
- 11.2.5. Syngenta Vietnam
- 11.2.6. Bayer CropScience Vietnam
- 11.2.7. BASF Vietnam
- 11.2.8. Vietnam National Chemical Group (Vinachem)
- 11.2.9. ADC Company Ltd.
- 11.2.10. Vipesco (Vietnam Pesticide JSC)
- 11.2.11. Lien Viet Company Ltd.
- 11.2.12. Tien Nong Agrochemical JSC
- 11.2.13. Thien Sinh Biotech
- 11.2.14. Sumitomo Chemical Vietnam
- 11.2.15. HAI Agrochem JSC
- *Each company profile includes Company Business Overview, Primary Business Activities, Products Offered, SWOT Analysis, and relevant other relevant details.
- 12. Conclusion
- 13. Appendix
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.