Future Growth of Seed Market in Vietnam is Expected

Expected to maintain focus on research and development of high quality and high yielding hybrid rice seeds to compete with other players in the seed industry. Ken Research announced its latest publication on “Vietnam Seed Industry Outlook to 2018 – Rice Seed and Hyperinflation to Drive Future Growth” which provides a comprehensive analysis of the seed market in Vietnam.

The report covers various aspects such as market size of seeds by sales value and production volume, market segmentation on the basis of hybrid and non hybrid seeds, by types of seeds (rice, corn, inbred and Vegetables, Cotton, Soybean seeds) and by formal and Informal types of market structures. The report Is useful for seed producers, wholesalers, distributors of seeds and new players venturing In the market.

The seed market in Vietnam has witnessed a growth in the recent years on account of rising demand for seeds especially rice and corn in domestic and international seed markets, fueled by growing participation of foreign players in the Vietnam seed rake. The market revenue has grown at a CARR of 1. 7% from 2008-2013. The surge in growth is major originated from growth in rice seed production in the country. NCSC and SC are the major players in the rice seed market whereas Agents, Boosted and other foreign players which dominate the corn seed market in the country.

According to the research report, the Vietnam seed market will grow at a CARR of 2. 5% from 2013-2018 and will reach USED 442 million by 2018. “While Increasing domestic and International demand for rice and corn seeds will exult In Increased production of these seeds In Vietnam, ruling competition due to increasing foreign players in the seed industry in the country would be one of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.