Vietnam Fungicide Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 392.8 Million |
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Market Size (2029) | USD 482.6 Million |
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Largest Share by Application Mode | Foliar |
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CAGR (2024 - 2029) | 4.20 % |
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Fastest Growing by Application Mode | Foliar |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Vietnam Fungicide Market Analysis
The Vietnam Fungicide Market size is estimated at 392.8 million USD in 2024, and is expected to reach 482.6 million USD by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
392.8 Million
Market Size in 2024 (USD)
482.6 Million
Market Size in 2029 (USD)
7.09 %
CAGR (2017-2023)
4.20 %
CAGR (2024-2029)
Largest Segment by Application Mode
61.15 %
value share, Foliar, 2023
The farmers in the country are recognizing the effectiveness of applying fungicides directly to the foliage to control fungal diseases in various crops.
Largest Segment by Crop Type
64.68 %
value share, Grains & Cereals, 2023
Grains and cereals such as rice, maize (corn), wheat, barley, and oats significantly contribute to the fungicide market in Vietnam because of their large cultivation areas.
Fastest-Growing Segment by Crop Type
4.41 %
Projected CAGR, Fruits & Vegetables, 2024-2029
The market for fruits and vegetables is anticipated to witness a substantial increase during the forecast period, as fungal diseases can cause yield losses and quality deterioration.
Leading Market Player 1
13.41 %
market share, Syngenta Group, 2022
Syngenta Group introduced TYMIRIUM technology, an active ingredient for seed treatment, which is designed for both soil and seed-applied applications.
Leading Market Player 2
7.86 %
market share, UPL Limited, 2022
UPL provides a wide range of fungicides based on nine active ingredients to control fungal disease in more than 20 crops, including soybean, sugar beet, cotton, and rice.
The rising pest pressure is driving the demand for insecticides in various application methods
- The fungicide market in Vietnam is categorized by various applications, including chemigation, foliar application, fumigation, and soil treatment. These different application methods serve as important means of effectively applying fungicides in diverse agricultural contexts within the country.
- Foliar application dominates the market. Fungicide's market value in this segment is expected to register a CAGR of 4.3% during the forecast period (2023-2029) because it is widely applied in various crops, including grains, cereals, fruits, and vegetables, where the foliage is the primary site of disease occurrence.
- Soil treatment is commonly used in Vietnam to protect from soil-borne fungi that pose a significant threat to the plant's health and productivity. The market is expected to register a CAGR of 4.0% due to the rising adoption of seed treatment chemicals as a preventive measure to avoid crop losses.
- The chemigation method is also commonly used in Vietnam for crops that require a consistent and controlled application, such as fruits and vegetables. The segment is expected to grow, registering a CAGR of 3.8% during the forecast period (2023-2029) because more farmers are adopting this practice as a means to efficiently deliver fungicides to their crops.
- Fumigation is particularly important in Vietnam's agricultural practices, as it helps maintain soil health and prevent the spread of pathogens to vulnerable crops. Advancements in fumigation technologies and equipment, along with improved formulations of fungicides, are expected to contribute to the growth of the market as new technologies and improved fumigation application methods are enhancing the efficiency of fungicides.
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Vietnam Fungicide Market Trends
The changing climate and rising disease pressure are expected to drive the consumption of fungicides
- The usage of fungicides in Vietnam experienced a notable increase of 31.2 grams per hectare between 2019 and 2022. This can be attributed to several factors that have contributed to the growing demand for fungicides in agricultural practices and plant protection.
- Vietnam's agricultural acreage increased by 1.7% ha in 2022 from the previous year. The expansion of agricultural production and the desire to enhance crop yields and quality are expected to increase the usage of fungicides. Farmers in Vietnam are striving to meet the growing demand for food and improve the productivity of their crops.
- Changing climatic conditions and environmental factors are also expected to drive the consumption of fungicides in Vietnam. Shifts in temperature and humidity levels can create favorable conditions for the development and spread of fungal diseases. As a result, farmers are expected to increasingly rely on fungicides to mitigate the risks associated with these diseases and safeguard their crops.
- The increasing awareness and knowledge about the importance of disease management and crop protection have driven the adoption of fungicides among farmers in Vietnam. The shift in mindset toward disease prevention and management has fueled the demand for fungicides in the country.
- Additionally, advancements in fungicide formulations and the availability of a wide range of effective and targeted fungicide products have also contributed to increased usage. The development of innovative fungicides with improved efficacy and safety profiles has provided farmers with more options for disease control. This has further encouraged the adoption of fungicides as part of their integrated pest management strategies.
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Increase in the fungal diseases, coupled with the dependence on imports for these active ingredients in the country, may drive the prices of these active ingredients
- Vietnam has a wide range of agroclimatic regions. For example, the central and northern provinces experience a cool to cold winter that favors temperate pathogens. The low temperatures inhibit the growth of some crops, making them more susceptible to seedlings and other diseases. Additionally, the yearly weather cycle includes very wet and dry periods. Such weather can also lead to crop stress and favor some diseases, especially of the roots and stems caused by pathogens. Tebuconazole, azoxystrobin, and metalaxyl are commonly used fungicide-active ingredients in Vietnam.
- Tebuconazole uses a systematic fungicide valued at USD 8.7 thousand per metric ton in 2022. Tebuconazole is known to treat rust fungus, sheath blight, leaf spot, and anthracnose. Vietnam imports most of its tebuconazole from China, Germany, and India.
- Azoxystrobin is a broad-spectrum fungicide active against fungal pathogens belonging to oomycetes, ascomycetes, deuteromycetes, and basidiomycetes. Owing to the increase in infestation of fungi like Fusarium and Trichoderma, the price of azoxystrobin increased from USD 4.0 thousand per metric ton in 2017 to USD 4.6 thousand per metric ton by 2022. Similarly, metalaxyl is a systemic fungicide used to control plant diseases caused by Oomycete fungi, valued at USD 4.4 thousand per metric ton in 2022.
- An increase in fungal diseases, coupled with dependence on imports for these active ingredients, in the country may drive the prices of these active ingredients.
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Vietnam Fungicide Industry Overview
The Vietnam Fungicide Market is fragmented, with the top five companies occupying 28.02%. The major players in this market are BASF SE, Bayer AG, FMC Corporation, Syngenta Group and UPL Limited (sorted alphabetically).
Vietnam Fungicide Market Leaders
BASF SE
Bayer AG
FMC Corporation
Syngenta Group
UPL Limited
Other important companies include ADAMA Agricultural Solutions Ltd, Corteva Agriscience, Nufarm Ltd, Wynca Group (Wynca Chemicals).
*Disclaimer: Major Players sorted in alphabetical order.
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Vietnam Fungicide Market News
- January 2023: Bayer formed a new partnership with Oerth Bio to enhance crop protection technology and create more eco-friendly crop protection solutions.
- October 2021: By investing in a new chemist's center, ADAMA enhanced its R&D capabilities that are aimed to expand and accelerate its own research and development in the field of plant protection.
- May 2021: ADAMA acquired 51% ownership of Huifeng's crop protection manufacturing facilities, resulting in a stronger global product line for the company.
Free with this Report
Along with the report, We also offer a comprehensive and exhaustive data pack with 50+ graphs on insecticide, fungicides, and herbicides consumption per hectare and the average price of active ingredients used in insecticides, fungicides, herbicides, nematicides, and molluscicides. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
Vietnam Fungicide Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Consumption Of Pesticide Per Hectare
- 4.2 Pricing Analysis For Active Ingredients
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4.3 Regulatory Framework
- 4.3.1 Vietnam
- 4.4 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Application Mode
- 5.1.1 Chemigation
- 5.1.2 Foliar
- 5.1.3 Fumigation
- 5.1.4 Seed Treatment
- 5.1.5 Soil Treatment
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5.2 Crop Type
- 5.2.1 Commercial Crops
- 5.2.2 Fruits & Vegetables
- 5.2.3 Grains & Cereals
- 5.2.4 Pulses & Oilseeds
- 5.2.5 Turf & Ornamental
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
- 6.4.1 ADAMA Agricultural Solutions Ltd
- 6.4.2 BASF SE
- 6.4.3 Bayer AG
- 6.4.4 Corteva Agriscience
- 6.4.5 FMC Corporation
- 6.4.6 Nufarm Ltd
- 6.4.7 Syngenta Group
- 6.4.8 UPL Limited
- 6.4.9 Wynca Group (Wynca Chemicals)
7. KEY STRATEGIC QUESTIONS FOR CROP PROTECTION CHEMICALS CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- FUNGICIDE CONSUMPTION PER HECTARE, GRAMS, VIETNAM, 2017 - 2022
- Figure 2:
- ACTIVE INGREDIENT PRICE PER METRIC TON, USD, VIETNAM, 2017 - 2022
- Figure 3:
- FUNGICIDE VOLUME METRIC TON, VIETNAM, 2017 - 2029
- Figure 4:
- FUNGICIDE VALUE USD, VIETNAM, 2017 - 2029
- Figure 5:
- FUNGICIDE MARKET BY APPLICATION MODE, METRIC TON, VIETNAM, 2017 - 2029
- Figure 6:
- FUNGICIDE MARKET BY APPLICATION MODE, USD, VIETNAM, 2017 - 2029
- Figure 7:
- VALUE SHARE OF FUNGICIDE BY APPLICATION MODE, %, VIETNAM, 2017 VS 2023 VS 2029
- Figure 8:
- VOLUME SHARE OF FUNGICIDE BY APPLICATION MODE, %, VIETNAM, 2017 VS 2023 VS 2029
- Figure 9:
- CROP PROTECTION CHEMICALS APPLIED THROUGH CHEMIGATION, METRIC TON, VIETNAM, 2017 - 2029
- Figure 10:
- CROP PROTECTION CHEMICALS APPLIED THROUGH CHEMIGATION, USD, VIETNAM, 2017 - 2029
- Figure 11:
- VALUE SHARE OF CHEMIGATION BY CROP TYPE, %, VIETNAM, 2022 VS 2029
- Figure 12:
- CROP PROTECTION CHEMICALS APPLIED THROUGH FOLIAR, METRIC TON, VIETNAM, 2017 - 2029
- Figure 13:
- CROP PROTECTION CHEMICALS APPLIED THROUGH FOLIAR, USD, VIETNAM, 2017 - 2029
- Figure 14:
- VALUE SHARE OF FOLIAR BY CROP TYPE, %, VIETNAM, 2022 VS 2029
- Figure 15:
- CROP PROTECTION CHEMICALS APPLIED THROUGH FUMIGATION, METRIC TON, VIETNAM, 2017 - 2029
- Figure 16:
- CROP PROTECTION CHEMICALS APPLIED THROUGH FUMIGATION, USD, VIETNAM, 2017 - 2029
- Figure 17:
- VALUE SHARE OF FUMIGATION BY CROP TYPE, %, VIETNAM, 2022 VS 2029
- Figure 18:
- CROP PROTECTION CHEMICALS APPLIED THROUGH SEED TREATMENT, METRIC TON, VIETNAM, 2017 - 2029
- Figure 19:
- CROP PROTECTION CHEMICALS APPLIED THROUGH SEED TREATMENT, USD, VIETNAM, 2017 - 2029
- Figure 20:
- VALUE SHARE OF SEED TREATMENT BY CROP TYPE, %, VIETNAM, 2022 VS 2029
- Figure 21:
- CROP PROTECTION CHEMICALS APPLIED THROUGH SOIL TREATMENT, METRIC TON, VIETNAM, 2017 - 2029
- Figure 22:
- CROP PROTECTION CHEMICALS APPLIED THROUGH SOIL TREATMENT, USD, VIETNAM, 2017 - 2029
- Figure 23:
- VALUE SHARE OF SOIL TREATMENT BY CROP TYPE, %, VIETNAM, 2022 VS 2029
- Figure 24:
- FUNGICIDE MARKET BY CROP TYPE, METRIC TON, VIETNAM, 2017 - 2029
- Figure 25:
- FUNGICIDE MARKET BY CROP TYPE, USD, VIETNAM, 2017 - 2029
- Figure 26:
- VALUE SHARE OF FUNGICIDE BY CROP TYPE, %, VIETNAM, 2017 VS 2023 VS 2029
- Figure 27:
- VOLUME SHARE OF FUNGICIDE BY CROP TYPE, %, VIETNAM, 2017 VS 2023 VS 2029
- Figure 28:
- FUNGICIDE CONSUMED BY COMMERCIAL CROPS, METRIC TON, VIETNAM, 2017 - 2029
- Figure 29:
- FUNGICIDE CONSUMED BY COMMERCIAL CROPS, USD, VIETNAM, 2017 - 2029
- Figure 30:
- VALUE SHARE OF COMMERCIAL CROPS BY APPLICATION MODE, %, VIETNAM, 2022 VS 2029
- Figure 31:
- FUNGICIDE CONSUMED BY FRUITS & VEGETABLES, METRIC TON, VIETNAM, 2017 - 2029
- Figure 32:
- FUNGICIDE CONSUMED BY FRUITS & VEGETABLES, USD, VIETNAM, 2017 - 2029
- Figure 33:
- VALUE SHARE OF FRUITS & VEGETABLES BY APPLICATION MODE, %, VIETNAM, 2022 VS 2029
- Figure 34:
- FUNGICIDE CONSUMED BY GRAINS & CEREALS, METRIC TON, VIETNAM, 2017 - 2029
- Figure 35:
- FUNGICIDE CONSUMED BY GRAINS & CEREALS, USD, VIETNAM, 2017 - 2029
- Figure 36:
- VALUE SHARE OF GRAINS & CEREALS BY APPLICATION MODE, %, VIETNAM, 2022 VS 2029
- Figure 37:
- FUNGICIDE CONSUMED BY PULSES & OILSEEDS, METRIC TON, VIETNAM, 2017 - 2029
- Figure 38:
- FUNGICIDE CONSUMED BY PULSES & OILSEEDS, USD, VIETNAM, 2017 - 2029
- Figure 39:
- VALUE SHARE OF PULSES & OILSEEDS BY APPLICATION MODE, %, VIETNAM, 2022 VS 2029
- Figure 40:
- FUNGICIDE CONSUMED BY TURF & ORNAMENTAL, METRIC TON, VIETNAM, 2017 - 2029
- Figure 41:
- FUNGICIDE CONSUMED BY TURF & ORNAMENTAL, USD, VIETNAM, 2017 - 2029
- Figure 42:
- VALUE SHARE OF TURF & ORNAMENTAL BY APPLICATION MODE, %, VIETNAM, 2022 VS 2029
- Figure 43:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, VIETNAM, 2017-2022
- Figure 44:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, VIETNAM, 2017-2022
- Figure 45:
- MARKET SHARE OF MAJOR PLAYERS, %, VIETNAM 2023
Vietnam Fungicide Industry Segmentation
Chemigation, Foliar, Fumigation, Seed Treatment, Soil Treatment are covered as segments by Application Mode. Commercial Crops, Fruits & Vegetables, Grains & Cereals, Pulses & Oilseeds, Turf & Ornamental are covered as segments by Crop Type.
- The fungicide market in Vietnam is categorized by various applications, including chemigation, foliar application, fumigation, and soil treatment. These different application methods serve as important means of effectively applying fungicides in diverse agricultural contexts within the country.
- Foliar application dominates the market. Fungicide's market value in this segment is expected to register a CAGR of 4.3% during the forecast period (2023-2029) because it is widely applied in various crops, including grains, cereals, fruits, and vegetables, where the foliage is the primary site of disease occurrence.
- Soil treatment is commonly used in Vietnam to protect from soil-borne fungi that pose a significant threat to the plant's health and productivity. The market is expected to register a CAGR of 4.0% due to the rising adoption of seed treatment chemicals as a preventive measure to avoid crop losses.
- The chemigation method is also commonly used in Vietnam for crops that require a consistent and controlled application, such as fruits and vegetables. The segment is expected to grow, registering a CAGR of 3.8% during the forecast period (2023-2029) because more farmers are adopting this practice as a means to efficiently deliver fungicides to their crops.
- Fumigation is particularly important in Vietnam's agricultural practices, as it helps maintain soil health and prevent the spread of pathogens to vulnerable crops. Advancements in fumigation technologies and equipment, along with improved formulations of fungicides, are expected to contribute to the growth of the market as new technologies and improved fumigation application methods are enhancing the efficiency of fungicides.
| Application Mode | Chemigation |
| Foliar | |
| Fumigation | |
| Seed Treatment | |
| Soil Treatment | |
| Crop Type | Commercial Crops |
| Fruits & Vegetables | |
| Grains & Cereals | |
| Pulses & Oilseeds | |
| Turf & Ornamental |
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Market Definition
- Function - Fungicides are chemicals used to control or prevent fungi from damaging the crop and prevent yield loss.
- Application Mode - Foliar, Seed Treatment, Soil Treatment, Chemigation, and Fumigation are the different type of application modes through which crop protection chemicals are applied to the crops.
- Crop Type - This represents the consumption of crop protection chemicals by Cereals, Pulses, Oilseeds, Fruits, Vegetables, Turf, and Ornamental crops.
| Keyword | Definition |
|---|---|
| IWM | Integrated weed management (IWM) is an approach to incorporate multiple weed control techniques throughout the growing season to give producers the best opportunity to control problematic weeds. |
| Host | Hosts are the plants that form relationships with beneficial microorganisms and help them colonize. |
| Pathogen | A disease-causing organism. |
| Herbigation | Herbigation is an effective method of applying herbicides through irrigation systems. |
| Maximum residue levels (MRL) | Maximum Residue Limit (MRL) is the maximum allowed limit of pesticide residue in food or feed obtained from plants and animals. |
| IoT | The Internet of Things (IoT) is a network of interconnected devices that connect and exchange data with other IoT devices and the cloud. |
| Herbicide-tolerant varieties (HTVs) | Herbicide-tolerant varieties are plant species that have been genetically engineered to be resistant to herbicides used on crops. |
| Chemigation | Chemigation is a method of applying pesticides to crops through an irrigation system. |
| Crop Protection | Crop protection is a method of protecting crop yields from different pests, including insects, weeds, plant diseases, and others that cause damage to agricultural crops. |
| Seed Treatment | Seed treatment helps to disinfect seeds or seedlings from seed-borne or soil-borne pests. Crop protection chemicals, such as fungicides, insecticides, or nematicides, are commonly used for seed treatment. |
| Fumigation | Fumigation is the application of crop protection chemicals in gaseous form to control pests. |
| Bait | A bait is a food or other material used to lure a pest and kill it through various methods, including poisoning. |
| Contact Fungicide | Contact pesticides prevent crop contamination and combat fungal pathogens. They act on pests (fungi) only when they come in contact with the pests. |
| Systemic Fungicide | A systemic fungicide is a compound taken up by a plant and then translocated within the plant, thus protecting the plant from attack by pathogens. |
| Mass Drug Administration (MDA) | Mass drug administration is the strategy to control or eliminate many neglected tropical diseases. |
| Mollusks | Mollusks are pests that feed on crops, causing crop damage and yield loss. Mollusks include octopi, squid, snails, and slugs. |
| Pre-emergence Herbicide | Preemergence herbicides are a form of chemical weed control that prevents germinated weed seedlings from becoming established. |
| Post-emergence Herbicide | Postemergence herbicides are applied to the agricultural field to control weeds after emergence (germination) of seeds or seedlings. |
| Active Ingredients | Active ingredients are the chemicals in pesticide products that kill, control, or repel pests. |
| United States Department of Agriculture (USDA) | The Department of Agriculture provides leadership on food, agriculture, natural resources, and related issues. |
| Weed Science Society of America (WSSA) | The WSSA, a non-profit professional society, promotes research, education, and extension outreach activities related to weeds. |
| Suspension concentrate | Suspension concentrate (SC) is one of the formulations of crop protection chemicals with solid active ingredients dispersed in water. |
| Wettable powder | A wettable powder (WP) is a powder formulation that forms a suspension when mixed with water prior to spraying. |
| Emulsifiable concentrate | Emulsifiable concentrate (EC) is a concentrated liquid formulation of pesticide that needs to be diluted with water to create a spray solution. |
| Plant-parasitic nematodes | Parasitic Nematodes feed on the roots of crops, causing damage to the roots. These damages allow for easy plant infestation by soil-borne pathogens, which results in crop or yield loss. |
| Australian Weeds Strategy (AWS) | The Australian Weeds Strategy, owned by the Environment and Invasives Committee, provides national guidance on weed management. |
| Weed Science Society of Japan (WSSJ) | WSSJ aims to contribute to the prevention of weed damage and the utilization of weed value by providing the chance for research presentation and information exchange. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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