Vietnam Horticulture Market Size Set to Touch USD 108.65 Million by 2029

Published | 11 August 2023

Vietnam horticulture market is gaining traction because of the growing awareness about sustainable crops and high adoption of sustainable horticulture practices.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam horticulture market size at USD 64.18 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam horticulture market size to grow at a CAGR of 9.17% reaching a value of USD 108.65 million by 2029. The growing adoption of sustainable agricultural techniques and the increasing integration of technical breakthroughs into the agricultural sector are two key growth factors for the Vietnam horticulture market. Additionally, over the forecast period, favorable government initiatives to promote greenhouse horticulture are forecast to offer attractive growth opportunities to the players in the Vietnam horticulture market.

Vietnam Horticulture Market – Overview

Horticulture is the area of agriculture that focuses on garden crops, primarily fruits, vegetables, and decorative plants. Particularly for the residents of rural and tribal areas, they provide a significant source of nourishment. For human nutrition, horticultural crops are a significant source of carbohydrates, proteins, organic acids, vitamins, and minerals. The two main subfields of horticulture are the cultivation of ornamental plants (floriculture and landscape horticulture) and food plants (pomology and olericulture).

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Vietnam Horticulture Market

Segmental Information

Vietnam Horticulture Market – By Propagation

Based on propagation, the Vietnam horticulture market is segmented into seed, vegetative, layering & cutting, grafting breeding, and others. The vegetative propagation segment accounts for the highest share of the market. It is a more rapid, less expensive, and simpler form of plant propagation than planting seeds. Agriculturists and horticulturists particularly benefit from vegetative propagation as it enables them to cultivate crops that don't produce viable seeds. Vegetative propagation also yields fruit and vegetables without seeds. The modern method of tissue culture can be utilized to create plant species that are virus-free.

Impact of COVID-19 on Vietnam Horticulture Market

The unprecedented COVID-19 pandemic adversely affected the Vietnam horticulture market. Infections, quarantine procedures, and restrictions delayed the delivery of agricultural inputs, prevented the arrival of seasonal workers, hindered the harvesting of fruits and vegetables, accumulated goods, and disrupted the distribution grid, sometimes resulting in product shortages in supermarkets. However, with a rising focus on sustainability post the pandemic outbreak, the Vietnam horticulture market is projected to flourish during the forecast period.

Competitive Landscape

Major players operating in the Vietnam horticulture market include Hoang Anh Gia Lai, VinEco, Dabaco Group, Saigon Agriculture Incorporation, Lam Son Sugar JSC, PAN Group, TH Group, Southern Seed Corporation (SSC), Quang Minh Greenhouse, and Anova Farm. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Horticulture Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Horticulture Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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