Increasing investment in the agricultural industry is driving the growth of the Vietnam Hydroponics Market, in the forecast period, 2023-2027F. According to TechSci report on, “Vietnam Hydroponics Market - By Region, Competition Forecast & Opportunities, 2027”. Vietnam hydroponics market has shown promising growth in historical years until 2021 and is expected to continue its growth in forecast years 2023 to 2027.
The Important Factors of the Vietnam Hydroponics Market
Vietnam hydroponics market owes its growth to the factors like growing evolution in the agricultural sector in the country. Also, surging demands for higher yields of food crops and utilizing advanced agricultural practices is further anticipated to drive the growth of the Vietnam hydroponics market in the upcoming five years. Increasing demand for food security due to the growing population of the country further aids the growth of the Vietnam hydroponics market. Moreover, due to the harsh impacts of COVID-19, there is an inclination toward sustainability and environmental solutions such as biologicals for advancing crop production. With controlled environment settings and technologically advanced seeds & related products, the market is anticipated to further grow in the future. Vietnam agricultural sector suffers from threats due to virus infections and other pest infections. Infections and diseases lead to crop failures. With concerns like declining arable land, the need for augmented agricultural productivity, and increasing new pests & insect populations destroying the forest as well as the agricultural lands in the country, inclination toward hydroponic practices would influence the growth of the Vietnam hydroponics market in the future five years.
The increased inclination of the population toward home gardens and rising disposable income among the population investing in the mini forms of hydroponic cultures at home also aid in the growth of the Vietnam hydroponics market in the forecast years through 2027. Hydroponic cultures are also beneficial to overcome the problems of rain run-offs, water-bodies pollution, soil quality degradation, depletion of soil nutrients, marine deaths, and health issues concerns for the human population.
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The Vietnam hydroponics market segmentation is based on type, equipment, input, farming method, crop type, competitional landscape, and regional distribution. Based on type, the market is differentiated between aggregate systems and liquid systems. Liquid systems are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of its capacity for nutrient retention. Aggregate systems are traditional soil plantation system and watering & rain run-offs often removes the added fertilizers, nutrients, and pesticides, etc. that causes loss to the farmers. The liquid system can save nutrient overflow and removals, and the capacity of the liquid system to reuse the nutrient solution also aids the growth of the Vietnam hydroponics market in the future five years.
By equipment the market is further segmented into HVAC, LED grows lights, control systems, irrigation systems, and others. Heating, Ventilating, and Air Conditioning (HVAC) systems are a complex set of devices & equipment that maintain environmental conditions. The systems are responsible to control the temperature, ventilation, and heating of the environment. LED grow lights are as the name depicts, growth enhancer light systems. These systems use less energy & low heating but provide optimum light for the growth of the plants. Irrigation systems are the complete system of watering the hydroponic setups. The systems are technologically advanced as the automated system turns on and off based on the required amount of water as well as periodic stability.
Based on input, the market is distinguished between nutrient media and growth media. By farming method, the market is divided between indoor and outdoor farming methods. Based on crop type, the market is bifurcated into lettuce, sweet potato, tomato, cucumber, melon, and others.
A partial list of major market players in the Vietnam Hydroponics market includes :
- VinEco (Vingroup Corp)
- Rijk Zwaan Vietnam LLC
- Finom Co., Ltd
- Vietnam Agricultural Greenhouse (VAG)
- Famifarm Hydroponics
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“Vietnam forestry & agricultural sector has expanded rapidly in the last decade. With agricultural growth, pests, and disease threats to the agricultural land & forests are major concerns. Growing instances of pest infections & diseases in plants due to evolving new pests & diseases that are resistant to the traditional crop protection products and methods further aid the demands for advanced and evolved hydroponic systems such that the crops can be grown in a controlled environment, and it drives the Vietnam hydroponics market in the future. New market players may focus on the product along with the technical systems that support the hydroponic cultures to satisfy the growing demands. By improving hygiene and hydroponic culture media growth along with innovative technology development the new market entrants can explore to establish their brands. Government-provided funding would also support the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vietnam Hydroponics Market By Type (Aggregate Systems v/s Liquid Systems), By Equipment (HVAC, LED Grow Light, Control Systems, Irrigation Systems, Others), By Input (Nutrient v/s Growth Media), By Farming Method (Indoor v/s Outdoor), By Crop Type (Lettuce, Sweet Potato, Tomato, Cucumber, Melon, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of Vietnam Hydroponics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam Hydroponics market.
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