Vietnam Vegetable Seed Market Report and Forecast 2024-2032

Vietnam Vegetable Seed Market Size

The Vietnam vegetable seed market reached approximately USD 71.20 million in 2023. The market is projected to grow at a CAGR of 6.7% between 2024 and 2032, reaching a value of around USD 127.63 million by 2032.

Vietnam Vegetable Seed Market Outlook

• As of 2021, CALOFIC was the top company in Vietnam for producing and processing vegetable oils using locally sourced raw materials.

• In 2022, Vietnam's agricultural sector experienced its most significant growth in recent years, reaching 3.36%.

• In Vietnam, agriculture makes up 12% of the GDP and provides livelihoods for over 62% of the rural population.

Vietnam Vegetable Seed Market Growth

The Vietnam market for vegetable seed has demonstrated a robust development rate in comparison to other seed markets in Southeast Asia. By 2030, this market growth is anticipated to surpass 100 million USD. In addition, the market for vegetable exports is expanding, and there is a greater need for hybrid seeds to be switched out quickly than for non-hybrid OP seeds. This development can also be credited to a favourable environment that encourages vegetable diversification and government support for foreign trade and investment.

Crop yields and quality are increased by agricultural technology advancements such as biotechnology, better seed varieties, and precision farming methods. The need for cutting-edge vegetable seeds is being driven by farmers' growing adoption of these inventions. In Vietnam, the use of protected and greenhouse farming techniques is expanding. The market is further being driven by the need for specialised vegetable seeds that are suitable for controlled environments, which is required for these methods. In addition, the increasing utilisation of sophisticated farming methods such as precision farming, hydroponics, and organic farming has enhanced the yield and quality of produce, contributing to the market growth.

Vietnam Vegetable Seed Industry Segmentation

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

Market Breakup by Type

• Open Pollinated Varieties

• Hybrid

Market Breakup by Crop Type

• Solanaceae

• Root and Bulb

• Cucurbit

• Brassica

• Leafy

• Others

Market Breakup by Traits

• Genetically Modified

• Conventional

Market Breakup by Cultivation Method

• Protected

• Open Field

Market Breakup by Region

• Southeast

• Red River Delta

• Mekong River Delta

• South Central Coast

• Others

Vietnam Vegetable Seed Market Share

Based on traits, the market is segmented into genetically modified and conventional. The genetically modified segment is projected to grow at a CAGR of 7.8% during the forecast period of 2024-2032. The DNA of an organism can be precisely altered through genetic modification. Genetic engineering allows for the modification of specific genes, as opposed to traditional breeding, which blends large sets of genes. Crops can be genetically modified to become resistant to bacterial, fungal, and viral diseases. This lowers crop losses brought on by disease outbreaks and helps to maintain healthy crops.

Leading Companies in the Vietnam Vegetable Seed Market

Major players are focusing on the integration of cutting-edge technologies and the adoption of sustainable farming practices to gain a competitive edge in the market.

• TRANG NONG TRADING COMPANY LIMITED

• SOUTHERN SEED CORPORATION

• Syngenta AG

• East-West Seed Group

• Bayer AG

• Chia Tai Seed

• Pan Group

• Bejo Zaden BV

• Others

Key Highlights of the Report

Vietnam Vegetable Seed Market Report Snapshots

Vietnam Vegetable Seed Market Size

Vietnam Vegetable Seed Market Growth

Vietnam Vegetable Seed Market Share

Vietnam Vegetable Seed Companies