Vietnamese Pesticides Market Worth 1,212.5 Million USD by 2020
PUNE, India, April 1, 2016 /PRNewswire/ --
The report "Vietnamese Pesticides Market by Category (Synthetic & Bio-Pesticides), Synthetic Pesticides (Herbicides, Insecticides, Fungicides & Others), Bio-Pesticides (Bio-Herbicides, Bio-Insecticides, Bio-Fungicides & Others), & by Crop Type - Trends & Forecasts to 2020", The market is projected to grow at a CAGR of 4.4% from 2015 to 2020 and is projected to reach 1,212.5 Million by 2020.
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Browse 29 Tables and 57 Figures spread through 150 Pages and in-depth TOC on "Vietnamese Pesticides Market"
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Pesticides are used to improve the quality and increase the nutritive value of crops, and protect crops from pests, which has resulted in the growth of the pesticides market in Vietnam. Rice, coffee, black pepper, and cassava are the major crops produced in Vietnam which earns a major chunk of export income and results in an increased demand for insecticides. Using adequate pesticides helps to protect the crop and increase the quality yield of the crops, thus increasing the export value of crops. R&D investments in good quality synthetic pesticides and promotion of bio-pesticides by the Vietnamese government have created huge growth opportunities for the next five years. As a result, many multinational players have entered into the production of various types of pesticides in Vietnam.
Strong product platform provided by cereals & grains segment
Pesticides can be applied to cereals & grains, fruits & vegetables, flowers, oilseeds & pulses, and other crops such as turf and forage grass. The demand for pesticides is driven by its easy availability and the effectiveness of synthetic pesticides in pest management along with the growing awareness about increasing agricultural yield.
Significant growth observed in bio-pesticides
The major types of pesticides include synthetic and bio-pesticides. Synthetic pesticides are widely used for crop protection through its types such as fungicides, herbicides, insecticides and other pesticides which include acaricides, nematicides, rodenticides, fumigants, and disinfectants. Bio-pesticides have a good market potential as they are environmental friendly and helps in enhancing the quality of output from the field.
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Innovative, environment-friendly, and cost-effective solutions key to success in Vietnam
In Vietnam, the trend of using pesticides has always been high. Farmers in Vietnam consider application of pesticides as an inevitable part of crop protection. This trend is expected to continue with the growing market for bio-pesticides. The Vietnamese government offers pesticides at subsidized rates, making it more affordable for farmers. Companies are introducing new varieties that are less toxic and more environment-friendly. Also, the problem of pesticide resistance is controlled by introducing new pesticides with strong properties to destroy pests. The key players in this country are taking initiatives by investing in R&D activities and increasing the production of pesticides within the country.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as BASF SE (Germany), Arysta LifeScience Corporation (Japan), Bayer CropScience AG (Germany), Vietnam Fumigation Joint Stock Company (Vietnam), and HAI Agrochem Joint Stock Company (Vietnam).
In terms of insights, this research report has focused on various levels of analyses industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the Vietnamese Pesticides Market, high-growth areas, regulatory policies, government initiatives, drivers, restraints, and opportunities.
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