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Vietnam Specialty Fertilizer Market Size, Share, Analysis: By Type: Urea-Ammonium Nitrate, Calcium Ammonium Nitrate, Monoammonium Phosphate, Sulphate of Potash, Potassium Nitrate, Urea Derivatives, Blends of NPK, Others; By Technology; By Crop Type; By Application Mode; Regional Analysis; Competitive Landscape; 2024-2032
Vietnam Specialty Fertilizer Market Size
The Vietnam specialty fertilizer market reached approximately USD 156.40 million in 2023. The market is projected to grow at a CAGR of 3.9% between 2024 and 2032, reaching a value of around USD 220.69 million by 2032.
| Vietnam Specialty Fertilizer Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical Period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | 156.40 |
| Market Size 2032 | USD Million | 220.69 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.9% |
| CAGR 2024-2032 - Market by Region | Southeast | 4.5% |
| CAGR 2024-2032 - Market by Region | Mekong River Delta | 4.0% |
| CAGR 2024-2032 - Market by Crop Type | Horticultural Crops | 4.4% |
| CAGR 2024-2032 - 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 Industry Segmentation
“Vietnam Specialty Fertilizer Market Report and Forecast 2024-2032” 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 2024-2032 - 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 2024-2032 - Market by | Application Mode |
| Fertigation | 4.6% |
| Foliar | 3.8% |
| Soil | XX% |
Market Breakup by Application Mode
- Fertigation
- Foliar
- Soil
| CAGR 2024-2032 - 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 2024 and 2032. 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 | 2018-2023 |
| 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 Technology |
|
| Breakup by Crop Type |
|
| Breakup by Application Mode |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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.
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 Specialty Fertilizer Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Specialty Fertilizer Historical Market (2018-2023)
8.3 Asia Pacific Specialty Fertilizer Market Forecast (2024-2032)
9 Vietnam Specialty Fertilizer Market Overview
9.1 Key Industry Highlights
9.2 Vietnam Specialty Fertilizer Historical Market (2018-2023)
9.3 Vietnam Specialty Fertilizer Market Forecast (2024-2032)
10 Vietnam Specialty Fertilizer Market by Type
10.1 Urea-Ammonium Nitrate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Calcium Ammonium Nitrate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Monoammonium Phosphate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Sulphate of Potash
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Potassium Nitrate
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Urea Derivatives
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Blends of NPK
10.7.1 Historical Trend (2018-2023)
10.7.2 Forecast Trend (2024-2032)
10.8 Others
11 Vietnam Specialty Fertilizer Market by Technology
11.1 Controlled-Release Fertilizers
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Water-Soluble Fertilizers
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Liquid Fertilizers
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Micronutrients
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Vietnam Specialty Fertilizer Market by Crop Type
12.1 Field Crops
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Horticultural Crops
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Turf and Ornamentals
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Vietnam Specialty Fertilizer Market by Application Mode
13.1 Fertigation
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Foliar
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Soil
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Vietnam Specialty Fertilizer Market by Region
14.1 Southeast
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Red River Delta
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Mekong River Delta
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South Central Coast
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Baconco
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Yara International ASA
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 ICL Group Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Haifa Negev technologies Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Grupa Azoty S.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Hebei Sanyuanjiuqi Fertilizer Co., Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Specialty Fertilizer Market: Key Industry Highlights, 2018 and 2032
2. Vietnam Specialty Fertilizer Market: Key Industry Highlights, 2018 and 2032
3. Vietnam Specialty Fertilizer Historical Market: Breakup by Type (USD Million), 2018-2023
4. Vietnam Specialty Fertilizer Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Vietnam Specialty Fertilizer Historical Market: Breakup by Technology (USD Million), 2018-2023
6. Vietnam Specialty Fertilizer Market Forecast: Breakup by Technology (USD Million), 2024-2032
7. Vietnam Specialty Fertilizer Historical Market: Breakup by Crop Type (USD Million), 2018-2023
8. Vietnam Specialty Fertilizer Market Forecast: Breakup by Crop Type (USD Million), 2024-2032
9. Vietnam Specialty Fertilizer Historical Market: Breakup by Application Mode (USD Million), 2018-2023
10. Vietnam Specialty Fertilizer Market Forecast: Breakup by Application Mode (USD Million), 2024-2032
11. Vietnam Specialty Fertilizer Historical Market: Breakup by Region (USD Million), 2018-2023
12. Vietnam Specialty Fertilizer Market Forecast: Breakup by Region (USD Million), 2024-2032
13. Vietnam Specialty Fertilizer Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 156.40 million.
The market is estimated to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 220.69 million by 2032.
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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