Forecast: Agricultural Pesticides Sales in Vietnam

The sales volume of agricultural pesticides in Vietnam has shown stagnation from 2013 to 2020, remaining steady at 19.15 thousand metric tons. Starting in 2021, the market began to see slight growth, with year-on-year increases of 1.41% in 2021, 1.37% in 2022, and 1.34% in 2023, bringing the sales volume for 2023 to 19.96 thousand metric tons. The Compound Annual Growth Rate (CAGR) over the last five years has averaged at 0.82%. From 2024 onwards, the forecast suggests a consistent rise, with a predicted 5.05% growth rate and a forecast 5-year CAGR of 0.99%.

Future trends to watch for include potential advancements in pesticide technologies, regulatory changes impacting pesticide usage, and shifts towards sustainable and organic farming practices which may influence future sales dynamics. Furthermore, increases in agricultural land and crop production volumes could significantly affect demand for agricultural pesticides in the coming years.