Vietnam Fertilizers Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 3.44 Billion |
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Market Size (2030) | USD 4.2 Billion |
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Largest Share by Crop Type | Field Crops |
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CAGR (2024 - 2030) | 3.38 % |
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Fastest Growing by Crop Type | Turf & Ornamental |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Vietnam Fertilizers Market Analysis
The Vietnam Fertilizers Market size is estimated at 3.44 billion USD in 2024, and is expected to reach 4.2 billion USD by 2030, growing at a CAGR of 3.38% during the forecast period (2024-2030).
3.44 Billion
Market Size in 2024 (USD)
4.2 Billion
Market Size in 2030 (USD)
1.00 %
CAGR (2017-2023)
3.38 %
CAGR (2024-2030)
Largest segment by Product
33.31 %
value share, Urea, 2023
Sulfur requirement in Rice cultivation, extending cultivation areas under these crops and need of higher food production raising the sulfure fertilizers consumption
Largest Segment by Crop Type
64.38 %
value share, Field Crops, 2023
The growing demand for higher yields of staple field crops like rice and extending cultivation areas has lead to greater usage of fertilizers to ensure optimum productivity
Fastest Growing Speciality Type
5.20 %
Projected CAGR, CRF, 2024-2030
CRFs gaining popularity with gradual release of nutrients throughout crop life cycle based on their requirement and reduction of nutrient leaching making them prefferd choice
Largest segment by Application Mode
95.30 %
value share, Soil, 2023
Soil application mode leading the market with growing adoption of advanced and high efficiant fertilizers like CRFs, SRFs and rise in conventional fertilizers usage.
Leading Market Player
19 %
market share, PetroVietnam Fertilizer and Chemical Corp., 2022
The company emerged as the leading play with production capacity of 8 lakh tons of urea and 5.4 lakh tons of Ammonia per year and offering various NPK fertilizers
With the increased market attractiveness coupled with rising demand, the demand for fertilizer is anticipated to grow substantially
- The fertilizers market in Vietnam is projected to record a CAGR of 4.6% during the forecast period. This growth is primarily driven by the rising popularity of Asian cuisine, a growing emphasis on healthy eating, and favorable climatic conditions.
- Field crops dominate the market, accounting for 81.6% of the total. Despite a decrease in the area under cultivation, the country is witnessing a notable increase in crop yields, necessitating higher fertilizer usage.
- Notably, rice, peas, and soybeans are key field crops in Vietnam. In 2022, the agriculture sector aimed to produce 48.3 million tons of grain, with a specific focus on rice, targeting an output of 43-43.9 million tons. This underscores the expected growth in the field crop market in the coming years.
- Horticultural crops held a 25.8% share in Vietnam's fertilizer market in 2022. The upcoming free trade agreement between the European Union and Vietnam, specifically for horticultural crop exports starting in 2023, is poised to further bolster this segment's growth.
- The turf and ornamental sector is set to record a CAGR of 4.4%. Notably, flower and ornamental plant production has seen significant advancements, yielding substantial economic value. The demand for flowers and bonsai trees is on the rise, as highlighted by the Ministry of Agriculture and Rural Development. In 2022, turf and ornamental crops accounted for 0.4% of Vietnam's fertilizers market.
- Given the increasing market attractiveness and rising demand, the fertilizer market in Vietnam is poised for substantial growth.
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Vietnam Fertilizers Market Trends
The Vietnamese government has been promoting policies to reduce production costs, which is expected to increase the cultivation area under field crops
- Vietnam dedicates substantial acreages to field crops; major cultivations include rice, maize (corn), and various other staples. The country's diverse climate and topography allow the cultivation of a wide range of crops. However, the area under the cultivation of field crops in Vietnam decreased by 6.6% during the study period.
- Rice is a primary field crop in Vietnam, reflecting its importance as a staple food, and it occupies the maximum area under cultivation, accounting for an 81.8% share, followed by corn with a 10.2% share. In 2022, rice production volume in Vietnam amounted to approximately 43.9 million metric tons. Vietnam is one of the leading rice producers and exports to countries worldwide.
- There are three major cropping seasons during a year: winter-spring or early season, summer-autumn or midseason, and autumn-winter or a longer rainy season crop. Major agricultural regions in the country include the Red River Delta, the Mekong River Delta, and the Southern Terrace region. Rice is the principal crop in all three regions. Half of Vietnam's exported rice comes from the Mekong Delta.
- The Vietnamese government has been promoting policies to reduce production costs by reducing fertilizer and pesticide usage and encouraging farm-made or locally-produced fertilizers to increase field crops' productivity, quality, and profit. The increasing incidence of crop failures due to a lack of nutrients and the rise in the requirement of high-efficiency fertilizers to prevent dwarfism in plants are some of the other factors contributing to the growth of the Vietnam fertilizers market.
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Nitrogen is a vital nutrient required for a range of field crops, and its application is very high
- The average application rate of primary nutrients in field crops was 123.94 kg per hectare in 2022. Among field crops, grains and cereals comprise the largest segment in terms of fertilizer consumption in Vietnam. The top-producing cereals in Vietnam are rice, wheat, and maize. The average primary nutrient application rates of these field crops were 155.49 kg/ha, 228.90 kg/ha, and 148.49 kg/ha, respectively, in the same year.
- Among all the primary nutrients, nitrogen is applied in a higher quantity, which is 221.43 kg/hectare on average for the field crops because nitrogen aids in increased tillering, leaf area development, grain formation, grain filling, and protein synthesis and also enhances grain yield and grain quality in field crops. Wheat has the maximum nitrogen application rate, which is 492.06 kg per hectare, followed by rice with 328.04 kg per hectare.
- In Vinh Phuc province of Vietnam, large areas of the soil are degraded and characterized by low organic matter; total available nitrogen is less than 0.08%, total phosphorus is below 0.04%, and total potassium is below 1.0%. Also, the available P is less than 10 ppm. These nutrient deficiencies led to an increase in the average fertilizer consumption in Vietnam from 49.2 kg/ha in 1969 to 415.3 kilograms per hectare by 2018, increasing at an average annual growth rate of 6.71%. In Vietnam, 43% of the population is involved in agriculture, but the production capacity is still less than one-fifth of the total GDP of the country, grossing only about 12.36%. Hence, to stabilize the production of agricultural products, the demand for fertilizers is further increasing, driving the growth of the Vietnam fertilizers market.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing demand for fresh produce from the country in other nations is increasing the cultivation area under horticultural crops
- Manganese is the most applied micronutrient in vegetable crops due to its role in photosynthesis and carbohydrate synthesis
- Calcium has the highest demand with the average application rate of 42.7 kg/ha
- The Mekong Delta and Red River Delta are the regions with the most irrigation systems in the agriculture sector
- Vietnamese soils are low in zinc with15.0 mg/kg. However, recommended zinc content stands at of 200.0 mg/kg of soil.
- Among the various crops, okra ranks as the highest nitrogen consumer, with a substantial application rate of 218.69 kg/ha
- Calcium contributes to the plant tissue development and its role in promoting overall plant growth
Vietnam Fertilizers Industry Overview
The Vietnam Fertilizers Market is fragmented, with the top five companies occupying 38.28%. The major players in this market are AGRICULTURAL PRODUCTS AND MATERIALS JSC (APROMACO), Baconco, Binh Dien Fertilizer JSC (BFC), PetroVietnam Fertilizer and Chemical Corp. and Southern Fertilizer JSC (sorted alphabetically).
Vietnam Fertilizers Market Leaders
AGRICULTURAL PRODUCTS AND MATERIALS JSC (APROMACO)
Baconco
Binh Dien Fertilizer JSC (BFC)
PetroVietnam Fertilizer and Chemical Corp.
Southern Fertilizer JSC
Other important companies include Duc Giang Chemicals Group, Grupa Azoty S.A. (Compo Expert), Haifa Group, Ninh Binh Phosphate Fertilizer JSC, Yara International ASA.
*Disclaimer: Major Players sorted in alphabetical order.
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Vietnam Fertilizers Market News
- June 2022: Duc Giang Chemicals Group is expanding production facilities with the total investment for the Duc Giang-Dak Nong Fertilizer Factory Project being USD 13.16 million. It has a 2 lakh ton/year NPK fertilizer-producing capacity.
- April 2022: PetroVietnam Fertilizer and Chemical Corp. launched a new product line of Phu My NPK - microbiology. This is an inorganic fertilizer NPK containing useful microorganisms to improve crop productivity.
- March 2022: The Haifa Group entered a purchase agreement with HORTICOOP BV to acquire Horticoop Andina, the distributor of nutritional products for agriculture. Through this acquisition of the brand, Haifa intends to expand its market presence in the Latin American market and strengthen its position as a global superbrand in advanced plant nutrition.
Free with this Report
Along with the report, We also offer a comprehensive and exhaustive data pack with 25+ graphs on area under cultivation and average application rate per hectare. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
Vietnam Fertilizers Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 Acreage Of Major Crop Types
- 4.1.1 Field Crops
- 4.1.2 Horticultural Crops
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4.2 Average Nutrient Application Rates
- 4.2.1 Micronutrients
- 4.2.1.1 Field Crops
- 4.2.1.2 Horticultural Crops
- 4.2.2 Primary Nutrients
- 4.2.2.1 Field Crops
- 4.2.2.2 Horticultural Crops
- 4.2.3 Secondary Macronutrients
- 4.2.3.1 Field Crops
- 4.2.3.2 Horticultural Crops
- 4.3 Agricultural Land Equipped For Irrigation
- 4.4 Regulatory Framework
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Type
- 5.1.1 Complex
- 5.1.2 Straight
- 5.1.2.1 Micronutrients
- 5.1.2.1.1 Boron
- 5.1.2.1.2 Copper
- 5.1.2.1.3 Iron
- 5.1.2.1.4 Manganese
- 5.1.2.1.5 Molybdenum
- 5.1.2.1.6 Zinc
- 5.1.2.1.7 Others
- 5.1.2.2 Nitrogenous
- 5.1.2.2.1 Urea
- 5.1.2.2.2 Others
- 5.1.2.3 Phosphatic
- 5.1.2.3.1 DAP
- 5.1.2.3.2 MAP
- 5.1.2.3.3 TSP
- 5.1.2.3.4 Others
- 5.1.2.4 Potassic
- 5.1.2.4.1 MoP
- 5.1.2.4.2 SoP
- 5.1.2.5 Secondary Macronutrients
- 5.1.2.5.1 Calcium
- 5.1.2.5.2 Magnesium
- 5.1.2.5.3 Sulfur
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5.2 Form
- 5.2.1 Conventional
- 5.2.2 Speciality
- 5.2.2.1 CRF
- 5.2.2.2 Liquid Fertilizer
- 5.2.2.3 SRF
- 5.2.2.4 Water Soluble
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5.3 Application Mode
- 5.3.1 Fertigation
- 5.3.2 Foliar
- 5.3.3 Soil
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5.4 Crop Type
- 5.4.1 Field Crops
- 5.4.2 Horticultural Crops
- 5.4.3 Turf & Ornamental
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 AGRICULTURAL PRODUCTS AND MATERIALS JSC (APROMACO)
- 6.4.2 Baconco
- 6.4.3 Binh Dien Fertilizer JSC (BFC)
- 6.4.4 Duc Giang Chemicals Group
- 6.4.5 Grupa Azoty S.A. (Compo Expert)
- 6.4.6 Haifa Group
- 6.4.7 Ninh Binh Phosphate Fertilizer JSC
- 6.4.8 PetroVietnam Fertilizer and Chemical Corp.
- 6.4.9 Southern Fertilizer JSC
- 6.4.10 Yara International ASA
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, VIETNAM, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, VIETNAM, 2017 - 2022
- Figure 3:
- CONSUMPTION OF MICRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 4:
- CONSUMPTION OF MICRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 5:
- CONSUMPTION OF PRIMARY NUTRIENTS BY FIELD CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 6:
- CONSUMPTION OF PRIMARY NUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 7:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY FIELD CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 8:
- CONSUMPTION OF SECONDARY MACRONUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, VIETNAM, 2022
- Figure 9:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, VIETNAM, 2022
- Figure 10:
- FERTILIZER FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 11:
- FERTILIZER FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 12:
- FERTILIZER CONSUMPTION BY TYPE IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 13:
- FERTILIZER CONSUMPTION BY TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 14:
- FERTILIZER CONSUMPTION VOLUME BY TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 15:
- FERTILIZER CONSUMPTION VALUE BY TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 16:
- COMPLEX FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 17:
- COMPLEX FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 18:
- COMPLEX FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 19:
- STRAIGHT FERTILIZER CONSUMPTION BY NUTRIENT IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 20:
- STRAIGHT FERTILIZER CONSUMPTION BY NUTRIENT IN USD, VIETNAM, 2017 - 2030
- Figure 21:
- STRAIGHT FERTILIZER CONSUMPTION BY NUTRIENT VOLUME IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 22:
- STRAIGHT FERTILIZER CONSUMPTION BY NUTRIENT VALUE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 23:
- FERTILIZER CONSUMPTION BY MICRONUTRIENTS IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 24:
- FERTILIZER CONSUMPTION BY MICRONUTRIENTS IN USD, VIETNAM, 2017 - 2030
- Figure 25:
- FERTILIZER CONSUMPTION VOLUME BY MICRONUTRIENTS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 26:
- FERTILIZER CONSUMPTION VALUE BY MICRONUTRIENTS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 27:
- BORON FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 28:
- BORON FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 29:
- BORON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 30:
- COPPER FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 31:
- COPPER FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 32:
- COPPER FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 33:
- IRON FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 34:
- IRON FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 35:
- IRON FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 36:
- MANGANESE FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 37:
- MANGANESE FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 38:
- MANGANESE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 39:
- MOLYBDENUM FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 40:
- MOLYBDENUM FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 41:
- MOLYBDENUM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 42:
- ZINC FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 43:
- ZINC FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 44:
- ZINC FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 45:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 46:
- OTHERS FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 47:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 48:
- FERTILIZER CONSUMPTION BY NITROGENOUS IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 49:
- FERTILIZER CONSUMPTION BY NITROGENOUS IN USD, VIETNAM, 2017 - 2030
- Figure 50:
- FERTILIZER CONSUMPTION VOLUME BY NITROGENOUS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 51:
- FERTILIZER CONSUMPTION VALUE BY NITROGENOUS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 52:
- UREA FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 53:
- UREA FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 54:
- UREA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 55:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 56:
- OTHERS FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 57:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 58:
- FERTILIZER CONSUMPTION BY PHOSPHATIC IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 59:
- FERTILIZER CONSUMPTION BY PHOSPHATIC IN USD, VIETNAM, 2017 - 2030
- Figure 60:
- FERTILIZER CONSUMPTION VOLUME BY PHOSPHATIC IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 61:
- FERTILIZER CONSUMPTION VALUE BY PHOSPHATIC IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 62:
- DAP FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 63:
- DAP FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 64:
- DAP FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 65:
- MAP FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 66:
- MAP FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 67:
- MAP FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 68:
- TSP FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 69:
- TSP FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 70:
- TSP FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 71:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 72:
- OTHERS FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 73:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 74:
- FERTILIZER CONSUMPTION BY POTASSIC IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 75:
- FERTILIZER CONSUMPTION BY POTASSIC IN USD, VIETNAM, 2017 - 2030
- Figure 76:
- FERTILIZER CONSUMPTION VOLUME BY POTASSIC IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 77:
- FERTILIZER CONSUMPTION VALUE BY POTASSIC IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 78:
- MOP FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 79:
- MOP FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 80:
- MOP FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 81:
- SOP FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 82:
- SOP FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 83:
- SOP FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 84:
- FERTILIZER CONSUMPTION BY SECONDARY MACRONUTRIENTS IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 85:
- FERTILIZER CONSUMPTION BY SECONDARY MACRONUTRIENTS IN USD, VIETNAM, 2017 - 2030
- Figure 86:
- FERTILIZER CONSUMPTION VOLUME BY SECONDARY MACRONUTRIENTS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 87:
- FERTILIZER CONSUMPTION VALUE BY SECONDARY MACRONUTRIENTS IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 88:
- CALCIUM FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 89:
- CALCIUM FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 90:
- CALCIUM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 91:
- MAGNESIUM FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 92:
- MAGNESIUM FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 93:
- MAGNESIUM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 94:
- SULFUR FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 95:
- SULFUR FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 96:
- SULFUR FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 97:
- FERTILIZER CONSUMPTION BY FORM IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 98:
- FERTILIZER CONSUMPTION BY FORM IN USD, VIETNAM, 2017 - 2030
- Figure 99:
- FERTILIZER CONSUMPTION VOLUME BY FORM IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 100:
- FERTILIZER CONSUMPTION VALUE BY FORM IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 101:
- CONVENTIONAL FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 102:
- CONVENTIONAL FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 103:
- CONVENTIONAL FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2022 VS 2030
- Figure 104:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 105:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 106:
- FERTILIZER CONSUMPTION VOLUME BY SPECIALITY TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 107:
- FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 108:
- CRF FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 109:
- CRF FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 110:
- CRF FERTILIZER CONSUMPTION BY CROP TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 111:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 112:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 113:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION BY CROP TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 114:
- SRF FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 115:
- SRF FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 116:
- SRF FERTILIZER CONSUMPTION BY CROP TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 117:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 118:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 119:
- WATER SOLUBLE FERTILIZER CONSUMPTION BY CROP TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 120:
- FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 121:
- FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, VIETNAM, 2017 - 2030
- Figure 122:
- FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 123:
- FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 124:
- FERTIGATION APPLICATION OF FERTILIZER IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 125:
- FERTIGATION APPLICATION OF FERTILIZER IN USD, VIETNAM, 2017 - 2030
- Figure 126:
- FERTIGATION APPLICATION OF FERTILIZER IN VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 127:
- FOLIAR APPLICATION OF FERTILIZER IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 128:
- FOLIAR APPLICATION OF FERTILIZER IN USD, VIETNAM, 2017 - 2030
- Figure 129:
- FOLIAR APPLICATION OF FERTILIZER IN VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 130:
- SOIL APPLICATION OF FERTILIZER IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 131:
- SOIL APPLICATION OF FERTILIZER IN USD, VIETNAM, 2017 - 2030
- Figure 132:
- SOIL APPLICATION OF FERTILIZER IN VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 133:
- FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 134:
- FERTILIZER CONSUMPTION BY CROP TYPE IN USD, VIETNAM, 2017 - 2030
- Figure 135:
- FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 136:
- FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2017 VS 2023 VS 2030
- Figure 137:
- FIELD CROPS FERTILIZER CONSUMPTION BY FIELD CROPS IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 138:
- FIELD CROPS FERTILIZER CONSUMPTION BY FIELD CROPS IN USD, VIETNAM, 2017 - 2030
- Figure 139:
- FIELD CROPS FERTILIZER CONSUMPTION VALUE BY TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 140:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 141:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN USD, VIETNAM, 2017 - 2030
- Figure 142:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION VALUE BY TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 143:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 144:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN USD, VIETNAM, 2017 - 2030
- Figure 145:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION VALUE BY TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 146:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, VIETNAM, 2017 - 2030
- Figure 147:
- VIETNAM FERTILIZERS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 148:
- MARKET SHARE OF MAJOR PLAYERS IN %, VIETNAM, 2022
Vietnam Fertilizers Industry Segmentation
Complex, Straight are covered as segments by Type. Conventional, Speciality are covered as segments by Form. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.
- The fertilizers market in Vietnam is projected to record a CAGR of 4.6% during the forecast period. This growth is primarily driven by the rising popularity of Asian cuisine, a growing emphasis on healthy eating, and favorable climatic conditions.
- Field crops dominate the market, accounting for 81.6% of the total. Despite a decrease in the area under cultivation, the country is witnessing a notable increase in crop yields, necessitating higher fertilizer usage.
- Notably, rice, peas, and soybeans are key field crops in Vietnam. In 2022, the agriculture sector aimed to produce 48.3 million tons of grain, with a specific focus on rice, targeting an output of 43-43.9 million tons. This underscores the expected growth in the field crop market in the coming years.
- Horticultural crops held a 25.8% share in Vietnam's fertilizer market in 2022. The upcoming free trade agreement between the European Union and Vietnam, specifically for horticultural crop exports starting in 2023, is poised to further bolster this segment's growth.
- The turf and ornamental sector is set to record a CAGR of 4.4%. Notably, flower and ornamental plant production has seen significant advancements, yielding substantial economic value. The demand for flowers and bonsai trees is on the rise, as highlighted by the Ministry of Agriculture and Rural Development. In 2022, turf and ornamental crops accounted for 0.4% of Vietnam's fertilizers market.
- Given the increasing market attractiveness and rising demand, the fertilizer market in Vietnam is poised for substantial growth.
| Type | Complex | ||
| Straight | Micronutrients | Boron | |
| Copper | |||
| Iron | |||
| Manganese | |||
| Molybdenum | |||
| Zinc | |||
| Others | |||
| Straight | Nitrogenous | Urea | |
| Others | |||
| Straight | Phosphatic | DAP | |
| MAP | |||
| TSP | |||
| Others | |||
| Straight | Potassic | MoP | |
| SoP | |||
| Straight | Secondary Macronutrients | Calcium | |
| Magnesium | |||
| Sulfur | |||
| Form | Conventional | ||
| Speciality | CRF | ||
| Liquid Fertilizer | |||
| SRF | |||
| Water Soluble | |||
| Application Mode | Fertigation | ||
| Foliar | |||
| Soil | |||
| Crop Type | Field Crops | ||
| Horticultural Crops | |||
| Turf & Ornamental |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - Primary Nutrients: N, P and K, Secondary Macronutrients: Ca, Mg and S, Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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