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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Vietnam Specialty Fertilizer Market Size

The Vietnam specialty fertilizer market reached approximately USD 156.40 million in 2024. The market is projected to grow at a CAGR of 3.9% between 2025 and 2034, reaching a value of around USD 220.69 million by 2034.

Vietnam Specialty Fertilizer Market Report Summary Description Value
Base Year USD Million 2023
Historical Period USD Million 2018-2024
Forecast Period USD Million 2025-2034
Market Size 2024 USD Million 156.40
Market Size 2034 USD Million 220.69
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 3.9%
CAGR 2025-2034 - Market by Region Southeast 4.5%
CAGR 2025-2034 - Market by Region Mekong River Delta 4.0%
CAGR 2025-2034 - Market by Crop Type Horticultural Crops 4.4%
CAGR 2025-2034 - Market by Application Mode Fertigation 4.6%
Market Share by Region Southeast 24.7%

Vietnam Specialty Fertilizer Market Outlook

  • In the first half of 2024, agricultural production in Vietnam increased with the cultivation of nearly 3 million hectares of winter-spring rice, a growth of 1.2 thousand hectares from the previous year.
  • In 2023, Vietnam was one of the first three countries selected by the World Economic Forum to pilot the Food Innovation Hub, a flagship initiative of the Food Action Alliance created to enhance sustainability in food production.
  • In 2022, Vietnam brought in approximately 3.35 million metric tons of fertilizer, valued at close to 1.6 billion US dollars.

Vietnam Specialty Fertilizer Market Growth

Vietnam has seen a significant surge in its plant-based agriculture sector, solidifying its position as a major player in the global agricultural sector. The year 2022 marked a milestone for Vietnam's agricultural sector, with a remarkable growth rate of 3.36%. Farming, fisheries, and forestry experienced growth rates of 2.88%, 4.43%, and 6.13%, respectively. The sector's export turnover exceeded US$53.22 billion. The growth of Vietnam's agricultural sector, attributed to the crucial role of Overseas Direct Assistance (ODA) and the unwavering support from the Ministry of Agriculture and Rural Development (MARD), is expected to drive the demand for specialty fertilizers.

Vietnam is targeting to incorporate organic fertilizers in 50% of the total cultivation area nationwide by 2050. Additionally, the Vietnamese government aims to have a minimum of 80% of centrally-run cities and provinces establish organic fertilizer farming models within value chains for both major and specialty products. These objectives are outlined in a project approved by the Ministry of Agriculture and Rural Development (MARD) that focuses on promoting the production and utilisation of organic fertilizers until 2030, with a long-term vision extending to 2050.

The Vietnam market for specialty fertilizer is set to experience substantial growth, fuelled by agricultural modernisation, stringent government regulations, and technological progress. With the growing need for sustainable farming methods and high-value crops, the use of specialty fertilizers is projected to increase in the forecast period.

Vietnam Specialty Fertilizer Market

Vietnam Specialty Fertilizer Industry Segmentation

“Vietnam Specialty Fertilizer Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

  • Urea-Ammonium Nitrate
  • Calcium Ammonium Nitrate
  • Monoammonium Phosphate
  • Sulphate of Potash
  • Potassium Nitrate
  • Urea Derivatives
  • Blends of NPK
  • Others

Market Breakup by Technology

  • Controlled-Release Fertilizers
  • Water-Soluble Fertilizers
  • Liquid Fertilizers
  • Micronutrients
  • Others
CAGR 2025-2034 - Market by Crop Type
Horticultural Crops 4.4%
Turf and Ornamentals 4.2%
Field Crops XX%

Market Breakup by Crop Type

  • Field Crops
  • Horticultural Crops
  • Turf and Ornamentals
CAGR 2025-2034 - Market by Application Mode
Fertigation 4.6%
Foliar 3.8%
Soil XX%

Market Breakup by Application Mode

  • Fertigation
  • Foliar
  • Soil
CAGR 2025-2034 - Market by Region
Southeast 4.5%
Mekong River Delta 4.0%
Red River Delta XX%
South Central Coast XX%
Others XX%

Market Breakup by Region

  • Southeast
  • Red River Delta
  • Mekong River Delta
  • South Central Coast
  • Others

Vietnam Specialty Fertilizer Market Share

Based on crop type, the market is segmented into field crops, horticultural crops, and turf and ornamentals. Horticulture crops are projected to grow at a CAGR of 4.4% between 2025 and 2034. In horticulture, fertilizers are vital because they supply the necessary nutrients for healthy plant growth, increased yields, and better-looking fruits, vegetables, and ornamental plants. Horticultural crops' productivity and health can be greatly impacted by the proper application of specialty fertilizers.

Market Share by Region
Southeast 24.7%
Red River Delta XX%
Mekong River Delta XX%
South Central Coast XX%
Others XX%

Leading Companies in the Vietnam Specialty Fertilizer Market

The market players are focusing on the production of organic and non-toxic specialty fertilizers to gain a competitive edge.

  • Baconco
  • Yara International ASA
  • ICL Group Ltd.
  • Haifa Negev technologies Ltd.
  • Grupa Azoty S.A.
  • Hebei Sanyuanjiuqi Fertilizer Co., Ltd.
  • Others

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Technology
  • Crop Type
  • Application Mode
  • Region
Breakup by Type
  • Urea-Ammonium Nitrate
  • Calcium Ammonium Nitrate
  • Monoammonium Phosphate
  • Sulphate of Potash
  • Potassium Nitrate
  • Urea Derivatives
  • Blends of NPK
  • Others
Breakup by Technology
  • Controlled-Release Fertilizers
  • Water-Soluble Fertilizers
  • Liquid Fertilizers
  • Micronutrients
  • Others
Breakup by Crop Type
  • Field Crops
  • Horticultural Crops
  • Turf and Ornamentals
Breakup by Application Mode
  • Fertigation
  • Foliar
  • Soil
Breakup by Region
  • Southeast
  • Red River Delta
  • Mekong River Delta
  • South Central Coast
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Baconco
  • Yara International ASA
  • ICL Group Ltd.
  • Haifa Negev technologies Ltd.
  • Grupa Azoty S.A.
  • Hebei Sanyuanjiuqi Fertilizer Co., Ltd.
  • Others

Vietnam Specialty Fertilizer Market Report Snapshots

Vietnam Specialty Fertilizer Market Size

Vietnam Specialty Fertilizer Market Growth

Vietnam Specialty Fertilizer Market Share

Vietnam Specialty Fertilizer Companies

*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.*

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Key Questions Answered in the Report

In 2024, the market reached an approximate value of USD 156.40 million.

The market is estimated to grow at a CAGR of 3.9% between 2025 and 2034.

The market is estimated to witness a healthy growth during 2025-2034 to reach around USD 220.69 million by 2034.

The market is being driven by the growth of the agriculture sector and the increasing population in the region.

The key trends aiding the specialty fertilizer market in Vietnam include the production of organic fertilizers and the introduction of 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 application modes of specialty fertilizer include fertigation, foliar, and soil.

The major players in the market are Baconco, Yara International ASA, ICL Group Ltd., Haifa Negev technologies Ltd., Grupa Azoty S.A., and Hebei Sanyuanjiuqi Fertilizer Co., Ltd., among others.

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