Report Overview

Increasing level of crop infestation by nematodes, rising adoption of agricultural biological products and Growth in sustainability initiatives by government are projected to propel the expansion of Vietnam bionematicides market during forecast period between 2023 and 2029

Vietnam Bionematicides Market - Industry Trends & Forecast Report, 2029

Vietnam bionematicides market size was estimated at USD 1.45 million in 2022. During the forecast period between 2023 and 2029, the size of Vietnam bionematicides market is projected to grow at CAGR of 15.9% reaching a value of USD 4.07 million by 2029. Major growth drivers for Vietnam bionematicides market include increasing use of microorganisms in crops provides nutrients to crops, and the transitioning of chemical fumigant nematicides due to environmental concerns. An increase in crop quality is expected to fuel the expansion of the bionematicides market. Likewise, the massive crop infestation by nematodes, as well as sustainability initiatives and increased usage of agricultural biological products, are expected to boost the bionematicides market. Also, stringent environmental regulations against chemical/traditional nematicides will create further chances for the bionematicides industry to flourish during the forecast period.

Vietnam Bionematicide Market – Overview

Bionematicides are biopesticides employed to protect plants against nematode infestation. These bionematicides are safe for the environment and have no negative effects on soil fertility or crop quality. Bionematicides are commonly utilized in agriculture to achieve the best crop quality possible. Bionematicides are produced by a variety of microorganisms, including fungi, bacteria, and inert materials. Bionematicides are available in both dry and liquid forms and can be applied at any point of the plant's life cycle. Bionematicides work best when used before planting. R&D activities in Vietnam are mostly focused on breeding novel crop types and creating appropriate production technology for such crops based on IPM. However, nothing has been done to promote organic agriculture, which is required if the biopesticides business is to expand substantially. Agricultural land currently accounts for 80% of the country's total land area, and the country, as a major agricultural producer, provides numerous prospects for agrochemical companies. Furthermore, Vietnam is transitioning towards high-tech agriculture practices, with the government investing VN156.3 billion in 15 such initiatives. Vipesco, a Vietnamese company, is the global leader in biopesticides and the pioneer in biopesticide manufacture.

Vietnam Bionematicides Market

Growth Drivers

Increasing Arable Land

The World Bank documented a growth of 0.2 million hectares of arable land per year in Vietnam, indicating that the country's use of fertilizers and pesticides is increasing. The Vietnamese government has implemented land policies in order to transition from a collectivized state-controlled agricultural production system to one based on individual farm households in the market. The total area of agricultural land has expanded by 3.2 million hectares, with forest land accounting for the majority of the increase (2.9 million hectares), while land for long-day crops such as spinach, lettuce, and some wheat varieties has increased by 0.27 million hectares.

Restraints

Lack of Awareness about Bionematicides

The lack of knowledge among farmers in several developing countries, particularly in Vietnam, as well as the short shelf life of microorganisms, are limiting the growth of the bionematicide market during the projection period.

Impact of COVID-19 on Vietnam Bionematicides Market

COVID-19 had a detrimental impact on the market for bionematicides. Lockdown restrictions imposed in Vietnam caused supply chain interruptions, which in turn upset the parties involved in the delivery of goods to the intended locations. Production efficiency has decreased as a result of factors including a manpower scarcity and a restricted supply of raw materials.

Vietnam Bionematicides Market

Segmental Coverage

Vietnam Bionematicides Market – By Type

By type, Vietnam bionematicides market is bifurcated into Microbials and Biochemical segments. The microbial bionematicides segment is expected to hold a higher market share during the forecast period, as microbial bionematicides improve soil fertility by increasing nutrient mineralization and acting as biological control agents.

Vietnam Bionematicides Market – By Form

Based on form, Vietnam bionematicides market is split into Dry and Liquid segments. The liquid segment dominated the Vietnam bionematicides market. The product's liquid formulation brought in a greater revenue share, and the segment is expected to expand significantly over the course of the projected year. Farmers all across the world have a strong demand for liquid nematode control products since they are simple to use, easy to apply, and prevent product waste or spoiling from contamination.

Vietnam Bionematicides Market – By Crop Type

Based on crop type, Vietnam bionematicides market is divided into Cereals & grains, Oilseeds & pulses, and Fruits & Vegetables segments. The fruits and vegetables segment held the highest market share in 2022. Pesticides are required during vegetable cultivation to protect against insects, fungi, weeds, and viruses. Biopesticides are required to safeguard potato crops, and this will help estimate the need for biopesticide products. Bio stimulants are used in potatoes to increase nutritional value and productivity. Increased demand for potatoes from the food industry due to their numerous end-use applications, such as chips and nuggets, will drive economic growth and benefit the biopesticide market.

Vietnam Bionematicides Market – By Infestation

Based on infestation, Vietnam bionematicides market is segmented into Root knot, Cyst nematodes, and Lesion nematodes. The root knot segment dominated the market because root knot nematodes target a wide variety of plants, including vegetables, fruit trees, and ornamentals, the root knot segment dominated the market. These nematodes are tough to eradicate and can quickly spread from garden to garden in soil.

Vietnam Bionematicides Market – By Mode of Application

Based on mode of application, Vietnam bionematicides market is segmented into Seed treatment, Soil treatment, and Foliar sprays. The soil treatment segment held the highest market share. Soil Treatment was the most common mode of use for bio nematicides. One of the elements driving Soil Treatment application growth is that it accelerates seed germination, allowing for quicker plant growth, and enables effective use of moisture and nutrients, leading to increased crop yields.

Competitive Landscape

Major players operating in Vietnam bionematicides market include Bayer Cropscience AG, T. Stanes and Company, Dow Agro Sciences, BASF SE, Syngenta AG, Bio Huma Netics, Monsanto, Marrone Bio Innovations, Valent Biosciences, and FMC Corporation. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Development

• In May 2022 - Bayer Vietnam launched Routine Start 280FS, a seed germination product for rice seeds. In Vietnam, there is a growing demand for rice seed treatment products due to the spread of rice seed-borne illnesses and increased rice cropping. Hence, Bayer Vietnam strategically released a rice crop seed treatment product in Vietnam.

Scope of the Report

By Type

• Microbials

• Biochemical

By Form

• Dry

• Liquid

By Crop Type

• Cereals & Grains

• Oilseeds & Pulses

• Fruits & Vegetables

By Infestation

• Root Knot

• Cyst Nematodes

• Lesion Nematodes

By Mode of Application

• Seed Treatment    

• Soil Treatment

• Foliar Sprays