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Vietnam Biopesticide Market - Segmented by Product Group & Application Type - Growth, Trends and Forecasts (2019 - 2024)

Vietnam Biopesticide Market - Segmented by Product Group & Application Type - Growth, Trends and Forecasts (2019 - 2024)

  • January 2019
  • 90 pages
  • ID: 5778120
  • Format: PDF
  • By Mordor Intelligence LLP

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The Vietnam biopesticide market value was estimated to be USD 19.66 million in the year 2016. In Vietnam, research and development activities mainly focus on breeding new crop varieties and developing appropriate production technologies for such crops based on the IPM. However, not much has been done to promote organic agriculture, which would be needed if the biopesticides market needs to grow rapidly. Vietnam is moving toward hi-tech agriculture, for which the State provided VNÄ? 156.3 billion for 15 projects in the year 2017.

Increased Regulation Chemical Residue Limit

Environmental regulations, particularly Green Trade Barriers, have created many challenges for Vietnamese farmers and agricultural produce exporters, as their agriculture products seriously fail in meeting the maximum residue limit (MRL) of EU and the US. In Vietnam, the Ministry of Agriculture and Rural Development showed that among 4,600 inspected farms, 59.8% did not follow chemicals using process and 10.31% used substances not listed in permitted chemicals, due to which many of Vietnamese export products were inspected or even rejected by the importing markets.

Adopting New Farming Practices

Since 1990, IPM was introduced to Vietnam as a solution to control the excessive use of chemicals by local farmers and to better protect environmental and farmer’s health. National IPM program managed by Plant Protection Department (PPD) of Ministry of Agriculture and Rural development (MARD), Vietnam, is funded by various international agencies (FAO: Rice, Vegetables), (FAO-EU: Cotton), DANIDA (tea.). The IMP practices in Vietnam include fertigation irrigation and pest management.

Bioinsecticides is the Fastest Growing Segment

The segment accounts for 91% of the biopesticides market. The International Rice Research Institute (IRRI) in the past had called for a ban on certain insecticides in rice production as part of its new Action Plan to reduce plant hopper damage to the rice crop in Asia, including Vietnam. All this led to a shift toward increased use of bioinsecticides. Biofungicides are also gaining market share. The use of Marrone Bio Innovations, Inc product Regalia showcased 20% increase in rice yields in Vietnam.

Reasons to Purchase this Report
- To understand the growth trends of the Vietnam biopesticides market in key producing countries. Growth forecast is provided for 2018 – 2023. This information is crucial in - - - Identifying prospective markets with greater growth potential.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- To understand the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3-month analyst support, along with the Market Estimate sheet in excel.

Customization of the Report
- This report can be customized to meet your requirements. We can provide region-wise detailed distribution channel analysis. Please connect with our analyst, who will ensure you get a report that suits your needs.

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