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Vietnam Fertiliser Market Size, Share, Growth, Analysis: By Type: Organic, Inorganic; By Form: Dry, Liquid; By Application: Agriculture, Horticulture, Gardening, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Vietnam Fertiliser Market Size
The Vietnam fertiliser market reached approximately USD 4.63 billion in 2023. The market is projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of around USD 6.41 billion by 2032.
| Vietnam Fertiliser Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 4.63 |
| Market Size 2032 | USD Billion | 6.41 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.7% |
| CAGR 2024-2032 - Market by Region | Red River Delta | 4.3% |
| CAGR 2024-2032 - Market by Region | Mekong River Delta | 3.8% |
| CAGR 2024-2032 - Market by Type | Organic | 5.2% |
| CAGR 2024-2032 - Market by Application | Horticulture | 4.2% |
| Market Share by Region | Mekong River Delta | 16.3% |
Vietnam Fertiliser Market Outlook
- In the first half of 2024, agricultural production in Vietnam increased with nearly 3 million hectares of winter-spring rice cultivated, a growth of 1.2 thousand hectares from the previous year.
- Vietnam is targeting to incorporate organic fertilisers in 50% of the total cultivation area nationwide by 2050.
- In 2025, the Vietnamese Ministry of Agriculture and Rural Development (MARD) aims to increase the percentage of approved organic fertiliser products in circulation to 25%.
Vietnam Fertiliser Market Growth
The Vietnamese economy is heavily dependent on agriculture, as a significant number of people are involved in farming activities. In 2022, the Vietnamese Ministry of Agriculture and Rural Development announced that the agricultural sector in the country witnessed a growth of 3.36%. The increasing demand for fertilisers is being fuelled by the necessity to enhance crop yields and productivity. Farmers are expanding their cultivation to include high-value crops such as fruits, vegetables, and flowers, which necessitate the use of specific fertilisers to ensure optimal growth and quality. In the year 2022, Vietnam imported around 3.35 million metric tons of fertiliser, amounting to nearly 1.6 billion US dollars.
The movement towards organic fertiliser in Vietnam is rapidly gaining traction due to a variety of factors, such as the growing consumer preference for organic products, stringent government regulations, and a focus on environmental sustainability. Vietnam is presently utilising 11 million tons of fertilisers, with around 35% of them being organic. The increasing awareness among consumers about the health advantages of organic food is fuelling the demand for organically grown crops, consequently driving the need for organic fertilisers. Organic fertilisers are recognised for their ability to enhance soil health by improving soil structure, promoting microbial activity, and supplying essential nutrients without causing harm to the environment. The transition to organic fertilisers also helps to decrease reliance on chemical fertilisers, which can result in soil degradation, water pollution, and adverse health effects.
Vietnam Fertiliser Industry Segmentation
“Vietnam Fertiliser Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| CAGR 2024-2032 - Market by | Type |
| Organic | 5.2% |
| Inorganic | XX% |
Market Breakup by Type
- Organic
- Inorganic
Market Breakup by Form
- Dry
- Liquid
| CAGR 2024-2032 - Market by | Application |
| Horticulture | 4.2% |
| Agriculture | 3.8% |
| Gardening | XX% |
| Others | XX% |
Market Breakup by Application
- Agriculture
- Horticulture
- Gardening
- Others
| CAGR 2024-2032 - Market by | Region |
| Red River Delta | 4.3% |
| Mekong River Delta | 3.8% |
| Southeast | XX% |
| South Central Coast | XX% |
| Others | XX% |
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Vietnam Fertiliser Market Share
Based on the type, the market is segmented into organic and inorganic. Organic type is projected to grow at a CAGR of 5.2% during the forecast period of 2024-2032. Organic fertilisers enhance soil structure by boosting organic matter content, leading to improved water retention, aeration, and root growth. They also stimulate the proliferation of beneficial soil microorganisms, which are essential for nutrient cycling and the enhancement of soil fertility.
| Market Share by | Region |
| Mekong River Delta | 16.3% |
| Southeast | XX% |
| Red River Delta | XX% |
| South Central Coast | XX% |
| Others | XX% |
Leading Companies in the Vietnam Fertiliser Market
Major market players are focusing on technological advancements and sustainable farming solutions to gain a competitive edge in the market.
- PVFCCo.
- VIETNAM NATIONAL CHEMICAL GROUP
- AGRICULTURAL PRODUCTS MATERIALS JOINT STOCK COMPANY
- Supe Lâm Thao
- Baconco
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Form |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Vietnam Data Centre Report Snapshots
Vietnam Fertiliser Market Size
Vietnam Fertiliser Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Fertiliser Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Fertiliser Historical Market (2018-2023)
8.3 Asia Pacific Fertiliser Market Forecast (2024-2032)
9 Vietnam Fertiliser Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Fertiliser Historical Market (2018-2023)
9.3 Vietnam Fertiliser Market Forecast (2024-2032)
10 Vietnam Fertiliser Market by Type
10.1 Organic
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Inorganic
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Vietnam Fertiliser Market by Form
11.1 Dry
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Liquid
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Vietnam Fertiliser Market by Application
12.1 Agriculture
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Horticulture
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Gardening
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Vietnam Fertiliser Market by Region
13.1 Southeast
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Red River Delta
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mekong River Delta
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Central Coast
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 PVFCCo.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 VIETNAM NATIONAL CHEMICAL GROUP
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AGRICULTURAL PRODUCTS MATERIALS JOINT STOCK COMPANY
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Supe Lâm Thao
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Baconco
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Fertiliser Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Fertiliser Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Fertiliser Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Vietnam Fertiliser Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Vietnam Fertiliser Historical Market: Breakup by Form (USD Billion), 2018-2023
6. Vietnam Fertiliser Market Forecast: Breakup by Form (USD Billion), 2024-2032
7. Vietnam Fertiliser Historical Market: Breakup by Application (USD Billion), 2018-2023
8. Vietnam Fertiliser Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. Vietnam Fertiliser Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Vietnam Fertiliser Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Vietnam Fertiliser Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 4.63 billion.
The market is estimated to grow at a CAGR of 3.7% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 6.41 billion by 2032.
The market is being driven by the growth in the agriculture sector, rising population, and increasing food demand.
The key trends aiding the market include the growing adoption of organic fertiliser and favourable government initiatives to support the agricultural sector.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different types of fertiliser are organic and inorganic.
The major players in the market are PVFCCo., VIETNAM NATIONAL CHEMICAL GROUP, AGRICULTURAL PRODUCTS MATERIALS JOINT STOCK COMPANY, Supe Lâm Thao, and Baconco, among others.
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