Mar 6, 2019   SOURCE: BusinessWire

Vietnam Biopesticide Market by Product Group & Application Type (2019-2024) - ResearchAndMarkets.com

The "Vietnam Biopesticide Market - Segmented by Product Group & Application Type - Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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 VN 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.

Topics Covered

1. INTRODUCTION

1.1 Definition of the Market

1.2 Research Methodology

1.3 Report Description

2. KEY FINDINGS OF THE STUDY

3. MARKET OVERVIEW

4. MARKET DYNAMICS

4.1 Introduction

4.2 Drivers

4.2.1 Adoption of new farming practices

4.2.2 Growing demand for food safety and quality

4.2.3 High prices of organically produced crops

4.2.4 Increased regulations on chemical residue limits

4.2.5 Increase in arable land

4.3 Constraints

4.3.1 High synthetic pesticides demand and easy regulatory structure

4.3.2 Low Product Availability

4.3.3 Low consumer awareness of organic pesticides and fertilizers

4.3.4 Illegal availability of restricted pesticides at lower cost

4.4 Opportunities

4.4.1 Organizations promoting organic agriculture

4.4.2 Untapped Vietnamese Market

4.5 Porter's Five Forces Analysis

4.5.1 Bargaining Power of Suppliers

4.5.2 Bargaining Power of Buyers

4.5.3 Threat of New Entrants

4.5.4 Threat of Substitute Products and Services

4.5.5 Degree of Competition

5. MARKET SEGMENTATION

5.1 By product group/segment

5.1.1 Bioinsecticides

5.1.2 Bioherbicides

5.1.3 Biofungicides

5.1.4 Others

5.2 Application Type

5.2.1. Crop based

5.2.1.1 Grains & Cereals

5.2.1.2 Oil seeds

5.2.1.3 Fruits & Vegetables

5.2.2. Non Crop based

5.2.2.1 Turf & Ornamental Grass

5.2.2.2 Others

6. COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions

6.2 Market Share Analysis

6.3 Strategies Adopted by Leading Players

6.4 Most active companies in the past five years

7. COMPANY PROFILES

7.1 Binh Dien Fertilizer Joint Stock Company

7.2 Bioway-Organic 5C

7.3 Baconco Vietnam

7.4 Marrone Bio Innovations Inc (United States)

7.5 AgriInfoTech Inc. USA

7.6 Seipasa

7.7 Shanghai Megchem Company Ltd.

7.8 ISAGRO SpA (ITALY)

7.9 KeyPlex

7.10 ANH VIET Co. Ltd.

7.11 Can Tho Fertilizer & Chemical JSC

7.12 Song Gianh Fertilizer Company

For more information about this report visit https://www.researchandmarkets.com/research/w8ch7h/vietnam?w=4