Crop Protection Chemical Market Share, Revenue, Trends, Growth Drivers, CAGR Status, Challenges and Future Investment Strategies Till 2033


Crop Protection Chemical Market Share, Revenue, Trends, Growth Drivers, CAGR Status, Challenges and Future Investment Strategies Till 2033: SPER Market Research

 Category : Agriculture

 Published: Oct-2023
 Author: SPER Analyst

Vietnam Crop Protection Market is projected to be worth USD 3.27 billion by 2033 and is anticipated to surge at a CAGR of 5.08%.

Farmers have a low-cost option to improve crop output and quality thanks to crop protection chemicals. They aid in harvesting and sustain consistent supplies year after year. The three different types of crop protection agents are insecticides, herbicides, and fungicides. For instance, selective herbicides prevent weeds from spreading among crops and vying with them for resources like water, sunlight, and nutrients. Agriculture would be less productive if crop protection chemicals were used. The agricultural industry is now increasingly conscious of the risks posed by pesticides and the value of creating sustainable chemicals from sources such as plants, minerals, animals, and microbes. This has the effect of lowering soil pollution and contaminating agricultural produce.

Vietnam Crop Protection Market Driving Factors and Challenges

There are several drivers that driving market growth. As their income levels improve, Vietnamese buyers prioritize the purchasing of high-quality and healthful items, particularly organic ones. Farmers are converting their farmlands to organic status in response to increased demand for organic commodities, which requires the usage of biopesticides. The bio-insecticide market in Vietnam is the largest and fastest growing, owing to its increasing use in rice cultivation. The International Rice Research Institute (IRRI) has previously recommended for a ban on specific insecticides used in rice farming as part of its new Action Plan to prevent plant hopper damage to Asia's rice production, particularly in Vietnam.

However, Due to their toxicity, durability, bioaccumulation, lipophilicity, and negative effects on human health, pesticides are specific causes for worry. Through tainted fruits and vegetables, these toxins are ingested by people. Cancers, birth deformities, neurological conditions, endocrine disruption, and reproductive consequences are just a few of the grave health risks offered by pesticide residue. Effects of pesticides are influenced by their toxicity and exposure time. There are two types of consequences: short-lived and long-lasting. The use of pesticides poses possible health dangers, thus cultivation of fruits and vegetables must be constantly supervised. In fruits and vegetables that are offered to customers, pesticides such glyphosates, Difenoconazole, imidacloprids, and bifenthrin are usually present.

Impact of COVID-19 on Vietnam Crop Protection Market 
The COVID-19 virus has a negative effect on the Vietnamese market for crop protection agents. In order to contain the COVID-19 pandemic, the Vietnamese government took a number of steps, including as social exclusion, transportation restrictions, and the closure of businesses offering optional services. Vietnam supported legislation and implemented preemptive precautions, so the movement limitations had little effect on the country's fertilizer industry. As a result, with the exception of supply chain snags, the fertilizer market in Vietnam remained steady. However, it is projected that factors such as rising organic farming areas, expanded crop production areas, and increased land productivity will boost the market.

Vietnam Crop Protection Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Adama Ltd, Baconco Vietnam, BASF SE, Bayer Crop Science, Novozymes A/S, Sumitomo Chemicals, UPL Ltd, Vipesco

Vietnam Crop Protection Market Segmentation:

By Type: Based on the Type, Vietnam Crop Protection Market is segmented as; Herbicides, Insecticides, Fungicides, Others

By Origin: Based on the Origin, Vietnam Crop Protection Market is segmented as; Synthetic, Bio-based

By Application: Based on the Application, Vietnam Crop Protection Market is segmented as; Grains and Cereals, Pulse and Oilseeds, Fruits and Vegetables, Commercial Crops, Others.

By Region: This research also includes data for Northern Region, Southern Region, Western Region, Eastern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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