Vietnam Fertilizer Market Thumbnail Image

2020

Vietnam Fertilizer Market

Vietnam Fertilizer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Form, Application/Crop Type and Nutrient Content : Opportunity Analysis and Industry Forecast, 2020-2027

MC : Bulk Chemicals

Select an option
Author's: Krunal Yeware| Amit Narune | Eswara Prasad
Publish Date:

Get Sample to Email

Vietnam Fertilizer Market Outlook - 2027

The Vietnam fertilizer market size was valued at $4.5 billion in 2019, and is projected to reach $5.7 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027. 

Fertilizers are used in farming to enhance the crop yield. The fertilizers contain the vital nutrients required by the plants, such as potassium, nitrogen, and phosphorus. They improve the water retention capacity of the soil and also enhance its fertility.

Vietnam-Fertilizer-Market-2020-2027

The factors contributing toward the growth of the Vietnam fertilizer market include farmers increased focus toward agricultural expansion in terms of productivity and huge consumer base, agriculture being one of the main contributors to Vietnam’s Economy. However, the climate change is one of the factors hindering the market growth. For example, the sea water enters some of the areas, which affect the farming activities; there by, decreasing the farmer’s income. Farmers being the end user of the fertilizer, this decrease in the farmer’s income is expected to hinder the demand for fertilizers. On the contrary, rise in trend of agriculture drives the demand for organic fertilizers, which is anticipated to create lucrative opportunities for the market during the coming years. 

Segments Overview

The Vietnam fertilizer market is segmented on the basis of type, form, application/crop type, nutrient content, and region. By type, the market is divided into organic and inorganic. Based on form, the market is bifurcated into fry and liquid. On the basis of application/crop type, it is divided into crop-based and non–crop-based. On the basis of nutrient content, the market is studied across organic and inorganic. Region wise, the market is analyzed across Northern Vietnam, Central Vietnam, and Southern Vietnam. The Vietnam fertilizer market share is analyzed across all segments and region.

Vietnam Fertilizer Market
By Type
Your browser does not support the canvas element.

Organic is projected as the most lucrative segment.

Vietnam Fertilizer Market, By Type

By type, the organic segment is expected to grow at the fastest growth rate during the forecast period. This is attributed to rise in demand for organic fertilizer from farmers as it is environmentally friendly and does not hamper soil characteristics and provide adequate nutrient. 

Vietnam Fertilizer Market
By Form
Your browser does not support the canvas element.

Liquid is projected as the most lucrative segment.

Vietnam Fertilizer Market, By Form

By application, the liquid segment is anticipated to grow at a fastest growth rate during the projection period. It is expected to grow at a growth rate of 4.8% during the forecast period, in terms of volume. This is attributed to its characteristics such as ease of blending, ease in handling, and others. 

Vietnam Fertilizer Market
By Application
Your browser does not support the canvas element.

Crop-Based is projected as the most lucrative segment.

Vietnam Fertilizer Market, By Application/Crop Type

By application/crop type, the crop based garnered highest market share in 2019, in terms of volume and revenue. The market for fertilizers in crop-based applications will continue to grow at steady pace, owing to factors such as growing population, pressure on arable lands to grow more produce, and cost-effectiveness

Vietnam Fertilizer Market
By Nutrient Content
Your browser does not support the canvas element.

Inorganic is projected as the most lucrative segment.

Vietnam Fertilizer Market, By Region

Region wise, Central Vietnam is the fastest growing region in terms of volume as well as revenue, and Southern Vietnam garnered highest market share in 2019 in terms of volume as well as revenue. Southern Vietnam has ideal weather condition for agriculture activities as compared to other regions in Vietnam.

Vietnam Fertilizer Market
By Region
2027
Southern Vietnam 
Northern Vietnam
Central Vietnam

Southern Vietnam holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

Competitive Analysis

The Vietnam fertilizer market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Agricultural Products and Materials Joint Stock Company, Baconco, DUC Giang Chemicals Group, General Materials and Biochemical Fertilizer Joint Stock Company, Japan Vietnam Fertilizer Company (JVF), SongGianhCorporation. (SongGianh), Vietnam National Chemical Group (Vinachem), Vedan Vietnam Enterprise Corp.,Ltd, Vietnam Oil and Gas Group (PetroVietnam or PVN), and Yara Vietnam.

Other players in the value chain of the Vietnam fertilizer market include Five Star International Group, Que Lam Group, Ha Bac Nitrogen Fertilizers and Chemical Company, and others.

The key players are adopting numerous strategies such as product launch, business expansion, acquisition, partnership, collaboration, and agreement to stay competitive in the Vietnam fertilizer market.

For instance, Baconco Co., Ltd. launched new organic fertilizers named ANIMA and ORGANICONCO. ORGANICONCO organic fertilizer is extracted from Chicken, made in France and ANIMA organic fertilizer is extracted from salmon, made in Norway. This organic fertilizer is limiting stimulating active microorganisms to increase soil porosity, offer nutrients in an organic form, and others. This product launch has reinforced company’s product portfolio.

Key Benefits For Stakeholders

  • The Vietnam fertilizer market is studied from 2019 to 2027.
  • The report provides an in-depth analysis of the market along with the current and future market trends.
  • This report highlights the key drivers, opportunities, and restraints of the Vietnam fertilizer market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • A comprehensive analysis of the factors that drive and restrain the Vietnam fertilizer market growth is provided.
  • The qualitative data in this report aims on market dynamics, market trends, and developments.
  • The Vietnam fertilizer market size is provided in terms of volume and revenue.

Vietnam Fertilizer Market Report Highlights

Aspects Details
icon_5
By Type
  • Organic
    • Pure organic fertilizers
    • Microbiological fertilizers
    • Bio organic fertilizers
    • Mineral organic fertilizers
  • Inorganic
    • Nitrogen fertilizers
    • Phosphorous fertilizers
    • Potassium fertilizers
    • NPK fertilizers
icon_6
By Form
  • Dry
  • Liquid
icon_7
By APPLICATION (CROP TYPE)
  • Crop-based111
    • Cereals & Grains
    • Pulses & Oilseeds
    • Fruits and Vegetables
  • Non–Crop-Based
    • Turf and Ornamentals
    • Others
icon_8
By Nutrient Content
  • Organic
    • Presence of Organic Substances is More than 60%
    • Presence of Organic Substances from 40% to 60%
    • Presence of Organic Substances from 20% of 40%
  • Inorganic
    • Presence of Inorganic Substances is Up To 60%
    • Presence of Inorganic Substances from 40% to 60%
    • Presence of Inorganic Substances from 20% to 40%
    • Others
icon_9
By Region
  • Northern Vietnam 
  • Central Vietnam 
  • Southern Vietnam 

Analyst Review

According to the perspectives of the CXOs of leading companies in the market, the prices of the domestic fertilizers were affected due to the prices of global fertilizes, as the local fertilizer products are direct competitors against imported products from neighboring countries. This made domestic fertilizer players to sell its products at a competitive price to maintain the market share. In addition, rise in industrialization and urbanization has increased the focus on land management, owing to which future agricultural expansion in Vietnam involves only one option, that is, increased productivity. This is expected to increase the demand for fertilizers in the coming years. However, the farmers are facing challenges such as low farm product prices, climate change, and others. These factors are affecting farmer’s income which is resulting in decreased fertilizer demand. 

Author Name(s) : Krunal Yeware| Amit Narune | Eswara Prasad
Frequently Asked Questions?

Vietnam is agriculture economy which is the major factor for Vietnam fertilizer market growth.

By 2027 it expected to reach $5.7 billion.

Vietnam National Chemical Group (Vinachem), and Vietnam Oil and Gas Group (PetroVietnam or PVN) are some of the top companies in the Vietnam fertilizer industry.

The rise in demand for organic fertilizer and government’s support for consumption and development of organic fertilizer domestically is expected to create lucrative opportunities during the forecast period in Vietnam fertilizer market.

Organic farming is the key trends boosting the adoption of organic fertilizer in Vietnam.

Non - Crop based application is expected to drive the adoption of fertilizer in Vietnam

The primary export markets were badly impacted by COVID-19 outbreak which hindered the exports of fruits and vegetables which disturbed the income of farmers. The income of farmers hindered the demand for fertilizer.

Loading Table Of Content...

Vietnam Fertilizer Market

Opportunity Analysis and Industry Forecast, 2020-2027