Vietnam Seeds Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Vietnam Seeds Market Growth

The rapid rise in the population of Vietnam, the growing demand for plant-based protein seeds such as soy, and the burgeoning popularity of genetically modified seeds are some of the major market drivers. GMO seeds are growing popular as they use less pesticides compared to traditional seeds, owing to the presence of genes which protect them from pests and insects.

According to Vietnam seeds industry analysis, farmers are increasingly adopting hybrid seeds which can enhance the overall yield of the crops. Market players are also focused on increased research and development activities in the biotechnology sector for the production of seeds with high nutritional values and better resistance to crop diseases and pests. Moreover, the growing integration of precise farming practices and remote sensing abilities allows for the optimisation of seed selection in the agricultural sector.

Key Trends and Recent Developments

Growing food consumption, rise in agricultural production, use of advanced seeds, and increased stakeholder participation driving research and innovation are accelerating Vietnam seeds market value. 

July 2024

Vietnam’s agriculture ministry collaborated with the International Rice Research Institute (IRRI) to implement a pilot farming project under the “Sustainable Development of One Million Hectares of High Quality and Low-Emission Rice in the Mekong River Delta By 2030” program. The project used certified and mechanised direct-seeded rice and was combined with other advanced farming practices to achieve 6.3 – 6.5 tons/hectares of yield. Besides, the greenhouse gas (GHG) emissions were reduced by at least 2 tons.

December 2022

The Consortium of International Agricultural Research Centers (CGAIR) launched a new global initiative “Seed Equal-Delivering Genetic Gains to Farmers Fields” in the Mekong River Delta (MRD), Vietnam jointly with the International Rice Research Institute (IRRI). The initiative is aimed at educating and training farmers about improved seed production technologies to enhance the quality of rice produced, ultimately leading to higher yield and profits. 

October 2022

The Mekong Delta Research Institute (MDI), Vietnam led the “Biodiversity for Opportunities, Livelihoods and Development” (BOLD) project to support regional rice farmers develop new climate-resilient seed varieties by crossbreeding wild rice with commercially preferred domesticated crops. The new seed varieties will be more tolerant of the extreme weather impacts of climate change. The project was implemented with the support of Crop Trust and funded by the Norway government. 

May 2022

Bayer Vietnam launched a new seed treatment product Routine Start 280FS (Routine Start) to protect rice seeds from one of the most destructive diseases, rice blast fungi, improving crop productivity and resource efficiency for rice farmers. It contains chemicals such as Isotianil and Trifloxystrobin that activate the natural defence of the seeds so that they can fight against blast infections during the early days of sowing. The product also saves the cost of fungicide application, thereby increasing seed productivity and yield.

Increased Agricultural Production Leading to Seeds Demand Growth

Vietnam is primarily an agricultural economy with more than half of its total land area dedicated to agriculture. Moreover, the sector’s growth in the past few years has created a huge demand in the seeds market. According to the country’s Agriculture Ministry, the added value of the overall agricultural sector increased by 3.36% in 2022, the highest in the immediately three preceding years. The value has been rising since and is expected to grow during the forecast period as well, creating further demand in the market. 

Rising Food Consumption Propelling Seeds Market Growth in the Country 

The rising population in Vietnam is increasing the demand for food, thereby propelling the growth of the Vietnam seeds market. According to the World Bank Group, the country’s population grew by 0.7% in 2023 raising the per capita food consumption. As the population rises further, demand for food will increase, thereby propelling the market growth in the coming years. 

Use of Advanced Seed Varieties Enhancing Productivity in the Seeds Sector 

Public and private industry players have introduced advanced seed varieties in the market to enhance productivity and provide higher yields. These include the use of hybrid seeds, genetically modified seeds, and open-pollinated variety (OPV) seeds. Continued research and development in this direction is expected to provide several Vietnam seeds market opportunities. 

Growing Stakeholder Participation Increasing Innovation in Vietnam’s Seed Industry 

With a huge share of land under cultivation, Vietnam offers an ideal ground for national and international stakeholders in the agriculture industry to collaborate in innovative research, projects, and policy initiatives. Key stakeholders that have a stronghold in the seeds market are driving its innovation include the Consortium of International Agricultural Research Centers (CGAIR), the International Rice Research Institute (IRRI), and the Mekong Delta Research Institute (MDI). 

Vietnam Seeds Industry Segmentation

“Vietnam Seeds Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Conventional Seeds
• Genetically Modified Seeds

Market Breakup by Crop Type

• Row Crops 
  • Fiber Crops
  • Forage Crops
  • Grains and Cereals
  • Oil Seeds
  • Pulses
• Vegetables  
  • Brassicas
  • Cucurbits
  • Roots and Bulbs
  • Solanaceae
  • Unclassified Vegetables

Market Breakup by Treatment

• Treated Seeds
• Untreated Seeds

Market Breakup by Trait

• Herbicide Tolerance
• Insect Resistance
• Others

Vietnam Seeds Market Share

Based on crop type, the market is divided into row crops and vegetables. Row crops account for a substantial market share due to the rising demand for staple crops such as rice and corn which ensure food security in the country. Oil seeds such as soybeans and sunflowers are also gaining rapid growth in the market due to their rising usage for frying and sauteing purposes. Additionally, pulses find rising applications in vegetarian culinary dishes in Vietnam as they are a good source of protein.

Leading Companies in the Vietnam Seeds Market

The market participants are increasing the product offerings of GMO and hybrid seeds to offer enhanced nutrition to consumers.

• Bayer AG
• Corteva Inc.
• Bejo Zaden B.V.
• Syngenta AG
• Known-You Seed Co. Ltd.
• East-West Seed Group
• Rijk Zwaan Zaadteelt en Zaadhandel B.V.
• Enza Zaden Beheer B.V.
• Others