In recent years , Vietnam ’s agriculture sector has witness substantial maturation . A recent report on the Vietnam propagation materials market commission by the agricultural department of the Netherlands embassy in Vietnam and carry out by Mordor Intelligence provides valuable insights into the market dynamics , trends , and key factors determine its flight . This article delves into the key findings of the report , shedding light on the current nation and future prospects of the Vietnamese propagation material market from 2023 to 2028 . The scope of the report includes crop types , propagation methods , propagations materials and a generation trade analysis .
Vietnam ’s husbandry sectorAgriculture stay on an authoritative part of Vietnam ’s economic development . The country is rapidly developing and become one of Asia ’s fastest - growing egress economic system . farming accounts for almost 20 % of the GDP in Vietnam , and it ’s projected to grow during the forecast period due to rising authorities supporting , investment oversea , and increase demands . Major veg crop cultivated in the state include tomato , cabbage , cauliflower , potato , and onions . In Vietnam , multitude are consuming vegetables due to the move up health knowingness . As a result , the expending is jump , which is increasing the need for ontogeny in product . Vietnam ’s floriculture sector is also gaining tending for its substantial potential , fueled by diverse climates , a youthful universe , a large domestic market , and a raise middle - income consumer group . With a 15 percent one-year growth in the past five years , the sector is contrive to continue expanding at 10 - 15 pct every year in the next five class . The full area for flowers and ornamental plants has rise up from 6,800 hectare in 2000 to 48.91 thousand hectares in 2021 .
Market overviewIn 2022 , the Vietnamese propagation material market was appreciate at USD 129.5 million , with a externalize CAGR of 5.4 % to reach USD 178.4 million by 2028 . The Vietnamese food market is segmented by crop case , propagation methods , cloth , and trade analysis . The government ’s increased support for factory farm , instance by initiatives such as the Ministry of Agriculture and Rural Development ’s 10 - year investment labor , plays a pivotal role in force grocery maturation .
Market highlights :
Market driversThe master number one wood for this maturation is the unwavering administration support towards factory farm . Initiatives like the 10 - year investment project by the Ministry of Agriculture and Rural Development aim to strengthen floriculture , leading to an increase in the quantity and quality of generation materials . Furthermore , investment in seed and vegetal propagation , coupled with the adoption of these methods , are propelling market expanding upon .
Market restraintsHowever , the market look challenge , such as declining employment in agriculture . The shift towards more efficient vegetative propagation methods is impede by a decreasing workforce in the sector . Strict legislation on certified seeds and plant propagation material , coupled with climatic change , further hinder market outgrowth .
reference : agroberichtenbuitenland.nl
