The Vietnam Greenhouse Market is expected to grow during the forecast period of 2024-2028, driven by the increasing demand for year-round crop production and the rise in crop diversification.
According to TechSci Research report, “Vietnam Greenhouse Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Vietnam Greenhouse Market stood at USD30.26 million in 2022 and is anticipated to grow with a CAGR of 3.68% in the forecast period, 2023-2028. The initiatives taken by government based on greenhouse has led to favorable market conditions for the Vietnam Greenhouse Market. Several factors contribute to the growth of various greenhouse market products.
As part of the Vietnam Green Growth Strategy (VGGS), the country has set ambitious targets for reducing greenhouse gas emissions in sectors with high emissions. The VGGS, which is a comprehensive and forward-thinking approach, not only focuses on emission reductions but also aims to promote sustainable development while effectively addressing the challenges posed by climate change.
In 2020, Vietnam took significant steps towards achieving its greenhouse gas reduction goals by introducing new legislation. The draft Law on Environmental Protection, a cornerstone of these efforts, seeks to enhance environmental management and protection measures across the country. By strengthening the legal framework and implementing robust environmental policies, Vietnam is demonstrating its commitment to sustainable development and creating a greener future for generations to come.
The growing popularity of modern agricultural techniques, such as hydroponics, aeroponics, and aquaponics, has significantly fueled the demand for the Vietnam greenhouse market. These innovative techniques enable the efficient utilization of resources and ensure high crop yields, making them increasingly sought after by farmers.
Moreover, the implementation of smart greenhouses equipped with IoT devices, artificial intelligence, and machine learning has brought about a revolutionary transformation in farming practices. These cutting-edge technologies allow for precise control of crucial environmental factors like temperature, humidity, and light, creating optimal growth conditions for crops. As a result, farmers can achieve enhanced productivity and maximize the quality of their produce.
By embracing these advanced agricultural methods and technologies, the Vietnam greenhouse market is poised for remarkable growth and is set to play a pivotal role in meeting the ever-increasing demand for sustainable and efficient food production.
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The Vietnam Greenhouse Market is segmented in type, crop type, end user, regional distribution, and company.
Based on its crop type, the fruits & vegetables segment held the largest share in the market. The rising adoption of sustainable farming practices is one of the key factors driving the dominance of fruits and vegetables in Vietnam’s greenhouse market. Greenhouses provide an innovative and efficient approach to resource utilization, ensuring optimal use of water and fertilizers. This not only helps address the growing concerns of resource scarcity but also contributes to reducing the environmental impact of agriculture.
Moreover, the controlled environment provided by greenhouses enables precise application of pesticides, resulting in the production of safer and healthier fruits and vegetables. By minimizing exposure to harmful chemicals, greenhouses contribute to the overall well-being of consumers and promote sustainable agricultural practices.
With their ability to mitigate the challenges posed by unpredictable weather conditions and pests, greenhouses have become an indispensable tool for farmers in Vietnam. The combination of sustainable farming practices and advanced greenhouse technologies is revolutionizing the agricultural landscape, ensuring a steady supply of high-quality, locally grown fruits and vegetables for the market.
Based on region, Central segment is expected to grow during the forecast period.
The Vietnamese government has been actively and steadfastly promoting the development of the greenhouse industry in the central region. Recognizing the potential for growth and innovation, various initiatives have been launched to encourage farmers to embrace advanced farming techniques and embrace the use of greenhouses in their operations. These initiatives include providing training and education on greenhouse management, offering financial incentives, and facilitating access to modern greenhouse technologies.
Moreover, the government’s unwavering commitment to reducing greenhouse gas emissions and fostering sustainable practices has not only garnered attention but has also led to increased investment in the greenhouse market. This increased investment has stimulated the development of cutting-edge technologies, such as energy-efficient climate control systems, automated irrigation systems, and advanced monitoring solutions, further propelling the growth and potential of the greenhouse industry in Vietnam’s central region.
Major companies operating in Vietnam Greenhouse Market are:
- Netafim Ltd
- Watanabe Pipe Vietnam Co., Ltd.
- Nova Agritech Ltd
- Fresh Studio Innovations Asia
- Vingroup Corp.
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“Growing application of greenhouse in various end user industries are key drivers of the greenhouse market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of greenhouse with every passing year are anticipated to register an impressive growth to Vietnam Greenhouse Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Greenhouse Market By Type (Plastic Greenhouse, Glass Greenhouse), By Crop Type (Fruits & Vegetables, Flowers & Ornamentals), By End User (Commercial Growers, Retail Gardens, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Vietnam Greenhouse 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 Vietnam Greenhouse Market.
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