Vietnam Hydroponics Market is driven by rising demand for organic produce and rapid urbanization during the forecast period 2024-2028.
According to the TechSci Research report, “Vietnam Hydroponics Market – By Region, Competition, Forecast and Opportunities, 2018-2028F,” the market stood at USD 42.36 million in 2022 and is expected to grow at a CAGR of 4.25% from 2023 to 2028. Government initiatives supporting hydroponics have created favorable conditions for market growth. Several factors are driving the growth of various hydroponic products.
A key initiative by the Vietnamese government is its focus on increasing investments in the hydroponic sector. Recognizing the potential of this innovative farming technique, the government aims to promote its adoption among local farmers to transform traditional farming practices and ensure sustainable agricultural growth.
In line with this, the northern province of Quang Ninh has launched a comprehensive plan to enhance high-tech agriculture. Along with promoting hydroponics and aquaculture, the province is embracing modern farming technologies to optimize production costs, boost yields, and ensure environmentally friendly, sustainable farming practices.
The report also highlights the role of technological advancements driven by extensive research and development (R&D). These innovations have led to the development of sophisticated hydroponic systems that provide farmers with precise control over essential environmental factors like light, humidity, and temperature. This control results in improved plant growth, higher yields, and better crop quality.
Additionally, advanced hydroponic systems reduce the risk of disease outbreaks and pest infestations, as the controlled, sterile environment is less prone to common agricultural threats. This minimizes the need for pesticides and chemicals, promoting healthier crops.
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As a result, the integration of advanced hydroponic systems has revolutionized farming, offering a sustainable and efficient alternative to traditional agriculture. These systems support the growing demand for safe, high-quality, and eco-friendly produce, reshaping the agricultural landscape in Vietnam.
The Vietnam Hydroponics Market is segmented in type, crop type, regional distribution, and company.
Based on its type, the liquid systems segment held the largest share in the market. Considering the multitude of advantages that liquid systems offer, it is anticipated that they will maintain their dominance in the Vietnam hydroponics market in the foreseeable future. As the demand for sustainable farming practices continues to rise, driven by the need to feed a rapidly growing population, the significance of efficient and high-yield farming methods, such as liquid hydroponics, will become even more prominent.
These innovative systems not only provide optimal growing conditions but also minimize water usage and maximize crop productivity. With their ability to support year-round cultivation and mitigate the limitations of traditional soil-based farming, liquid hydroponics is poised to play a pivotal role in ensuring food security and promoting sustainable agriculture in Vietnam and beyond.
Based on region, Central segment is expected to grow during the forecast period.
The central region’s dominance in the hydroponics market can be attributed not only to the presence of key players but also to the conducive environment for growth and innovation. Many renowned companies operating in this market have chosen to establish their base in the central region, leveraging the region’s resources and infrastructure.
These companies are not only investing in research and development but also fostering collaboration with local universities and institutions. This synergy has resulted in significant advancements in hydroponic technologies and practices, positioning the central region as a hub of expertise and driving further growth in the industry.
Major companies operating in Vietnam Hydroponics Market are:
- Vingroup Corp.
- Rijk Zwaan Vietnam LLC
- Finom Co., Ltd.
- Vietnam Agricultural Greenhouse (VAG)
- Famifarm Hydroponics
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“Growing application of hydroponics in various end user industries are key drivers of the hydroponics market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of hydroponics with every passing year are anticipated to register an impressive growth to Vietnam Hydroponics Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Hydroponics Market By Type (Aggregate Systems, Liquid Systems), By Crop Type (Lettuce, Sweet Potato, Tomato, Cucumber, Melon, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, 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 Vietnam Hydroponics Market.
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