Market Size of Vietnam Organic Fertilizer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Organic Fertilizer Market Analysis
The Vietnam Organic Fertilizers Market is projected to register a CAGR of 6.7% over the forecast period.
- Vietnam is a tropical country with enormous progress and remarkable growth in agriculture contributing actively to poverty reduction, national food security, and social stability in the past few years.
- Vietnam faces bright opportunities in both domestic and international markets; yet effectively competing in these will depend upon the ability of farmers and firms to deliver products with reliability and assurances relating to quality, safety, and sustainability.
- Organic agriculture using organic fertilizer is one of the Vietnam government's priorities. Vietnam has good conditions for organic fertilizer production and application. Vietnam's government promotes organic fertilizer production and application and has a policy to develop organic fertilizer in Vietnam. According to the Ministry of Agriculture and Rural Development (Vietnam) in 2021, over the past 3 years, the number of organic fertilizers registered has increased tremendously at 500% while the use of synthetic fertilizers is a downtrend.
- With approximately 43% of its population involved in agriculture, the production capacity is still less than 1/5th of the total GDP of the country grossing about 12.36% only. Therefore, to stabilize the agricultural fields, and increase the production of Agri products, the demand for organic fertilizers is further increasing and driving the growth of the Vietnam Organic fertilizers market.
- Furthermore, some of the other factors driving the Vietnam organic fertilizers market growth are the increasing demand for organic food coupled with growing awareness about the environmental safety of using organic fertilizers. Moreover, the huge availability of organic waste and advancements in the manufacturing process of organic fertilizers are creating opportunities for the growth of this market.
Vietnam Organic Fertilizer Industry Segmentation
Organic fertilizers are fertilizers produced from raw materials, including animal matter, animal excreta, human excreta, and other natural sources. The Vietnam Organic Fertilizers Market is Segmented by Product (Organic Residues and Biofertilizer), and Application (Grains and Cereals, Oilseeds, Fruits and Vegetables, Turf and Ornamentals, and Other Applications). The report offers the market size and forecasts in terms of value in USD thousand for all the above segments.
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| Grains and Cereals | |
| Oilseeds | |
| Fruits and Vegetables | |
| Turf and Ornamentals | |
| Other Applications |
Vietnam Organic Fertilizer Market Size Summary
The Vietnam Organic Fertilizer Market is experiencing significant growth, driven by the country's commitment to organic agriculture and the increasing demand for sustainable farming practices. The government's focus on organic fertilizer production and application is supported by policies aimed at enhancing food security and environmental sustainability. As Vietnam faces challenges such as soil degradation and declining arable land, the shift towards organic farming is seen as a viable solution to boost agricultural productivity. The market is further propelled by the rising awareness of the environmental benefits of organic fertilizers and the availability of organic waste for fertilizer production. This trend is expected to continue, with organic fertilizers playing a crucial role in meeting the country's food demand and supporting the agricultural sector's growth.
The market landscape is characterized by a fragmented structure with key players like Binh Dien Fertilizer Joint Stock Company, Can Tho Fertilizer & Chemical Jsc, and others actively participating in the sector. These companies are engaging in strategies such as partnerships, product launches, and research and development to strengthen their market position. The increasing livestock population in Vietnam also contributes to the demand for organic fertilizers, particularly farmyard manure, which is favored for its nutrient-rich composition and ability to enhance soil health. Government initiatives and industry efforts are aligned towards increasing the adoption of organic fertilizers, with targets set to raise the proportion of organic products in circulation. This collaborative approach is anticipated to drive the market's expansion over the forecast period.
Vietnam Organic Fertilizer Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product
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2.1.1 Organic Residues
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2.1.1.1 Farm Yard Manure
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2.1.1.2 Crop Residues
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2.1.1.3 Green Manure
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2.1.1.4 Other Products
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2.1.2 Biofertilizer
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2.1.2.1 Azotobacter
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2.1.2.2 Rhizobium
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2.1.2.3 Azospirillum
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2.1.2.4 Blue-Green Algae
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2.1.2.5 Azolla
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2.1.2.6 Mycorrhiza
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2.1.2.7 Other Biofertilizers
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2.2 Application
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2.2.1 Grains and Cereals
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2.2.2 Oilseeds
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2.2.3 Fruits and Vegetables
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2.2.4 Turf and Ornamentals
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2.2.5 Other Applications
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Vietnam Organic Fertilizer Market Size FAQs
What is the current Vietnam Organic Fertilizer Market size?
The Vietnam Organic Fertilizer Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)
Who are the key players in Vietnam Organic Fertilizer Market?
Binh Dien Fertilizer Joint Stock Company, Can Tho Fertilizer & Chemical Jsc, Baconco Vietnam, Que Lam Group and Bioway Hitech Joint Stock Company are the major companies operating in the Vietnam Organic Fertilizer Market.
