Report Description

Forecast Period


Market Size (2022)

5.14 MMT

CAGR (2023-2028)


Fastest Growing Segment

Grains & Cereals

Largest Market



Market Overview

Vietnam Fertilizers Market has valued at 5.14 MMT in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.31% through 2028. Fertilizers are essential in farming as they play a vital role in enhancing crop yield. These fertilizers contain crucial nutrients like potassium, nitrogen, and phosphorus, which are necessary for the healthy growth of plants. By providing these nutrients, fertilizers not only improve the overall fertility of the soil but also enhance its water retention capacity, ensuring proper nourishment for the crops.

The growth of the Vietnam fertilizer market is influenced by multiple factors. Firstly, farmers in Vietnam are increasingly focusing on agricultural expansion to boost productivity and cater to the growing consumer base. Agriculture plays a significant role in Vietnam's economy, making it a key contributor. However, the market growth faces challenges due to climate change. For instance, the intrusion of seawater into certain areas affects farming activities, leading to a decrease in farmers' income. As farmers are the end-users of fertilizers, this decline in income is expected to hinder the demand for fertilizers.

On the other hand, there is a rising trend towards organic agriculture, which drives the demand for organic fertilizers. This shift towards organic farming presents lucrative opportunities for the fertilizer market in the coming years. With the increasing awareness and preference for organic produce, the demand for organic fertilizers is anticipated to experience significant growth, contributing to the overall expansion of the market.

Key Market Drivers

Increase in Agricultural Practices

Vietnam, with its rich and diverse agricultural sector, has experienced a remarkable upswing in the fertilizer market. This growth can primarily be attributed to the increasing adoption of advanced agricultural practices across the country, resulting in a surge in demand for fertilizers.

The expansion of agriculture in Vietnam is a direct consequence of the government's unwavering focus on this sector as a key driver of economic development. According to the Ministry of Agriculture and Rural Development (MARD), the agricultural sector in Vietnam witnessed a growth rate of 2.68% in 2020, further fueling the demand for fertilizers. These essential nutrients play a crucial role in enhancing crop productivity and improving the overall quality of agricultural produce.

One of the significant trends observed in the Vietnam fertilizers market is the escalating shift towards organic fertilizers. This transition aligns perfectly with the global movement towards sustainable and environmentally friendly farming practices. In line with this, the Ministry of Agriculture and Rural Development (MARD) of Vietnam has set an ambitious target of achieving 25 percent local production of organic fertilizers.

In conclusion, the increasing adoption of advanced agricultural practices in Vietnam serves as a major driving force behind the flourishing fertilizer market. As the country continues to expand its agricultural sector, the demand for fertilizers, particularly organic ones, is poised to witness a further rise. This trend presents a significant opportunity for both existing players and new entrants in the market. With Vietnam's unwavering commitment to agricultural development, the fertilizer market will continue to play a pivotal role in supporting and sustaining the country's remarkable growth trajectory.

Growth in Crop Diversity

Vietnam's agricultural sector has undergone remarkable diversification in recent years. This diversification has not only involved a shift from traditional rice cultivation to cash crops like coffee, pepper, fruits, and vegetables, but it has also led to the emergence of various sub-sectors within each crop category. For instance, within the fruit category, there has been a surge in the production of tropical fruits such as mangoes, dragon fruits, and durians. Similarly, the coffee sector has witnessed the cultivation of specialty coffee varieties renowned for their unique flavors and aromas.

As each crop requires specific nutrient inputs for optimal growth and quality, the demand for a diverse range of fertilizers has grown exponentially. Farmers now seek fertilizers tailored to the specific needs of each crop, ensuring maximum productivity and quality. This has spurred innovation in the fertilizer industry, with companies developing specialized formulations to cater to the varied requirements of different crops.

In conclusion, the increasing diversity in crops and the subsequent demand for a wide range of fertilizers have become pivotal drivers of the fertilizer market in Vietnam. As the country continues to diversify its agricultural sector, exploring new crops and adopting advanced cultivation techniques, the demand for both specialty and organic fertilizers is projected to rise further. This upward trend not only presents significant opportunities for market players but also contributes to the overall growth and sustainability of Vietnam's economy.

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Key Market Challenges

Complexities Associated with Soil Health Management

In crop production systems, soil pollution often arises from the excessive application of fertilizers and the presence of pesticide residues. In Vietnam, as farmers increasingly rely on fertilizers to enhance crop yields, the risk of over-application becomes more prominent, leading to soil degradation and compromising long-term agricultural sustainability. This not only poses challenges for farmers but also presents a significant issue for the fertilizer market.

Moreover, the nutrient composition of organic fertilizers available in Vietnam's markets has come under scrutiny, raising concerns regarding their production and evaluation. The complexities surrounding these issues further complicate soil health management, creating additional challenges for both farmers and fertilizer manufacturers who strive to address these concerns effectively. By delving into these intricacies and exploring potential solutions, we can work towards sustainable soil management practices that ensure the long-term health and productivity of crop production systems.

Key Market Trends

Rising Shift Towards Balanced Nutrient Use

The rising awareness about the importance of balanced crop nutrition is playing a pivotal role in shaping Vietnam's fertilizer market. Farmers are increasingly recognizing that different crops have specific nutrient requirements for optimal growth and yield. This realization has led to a significant shift from the traditional practice of excessive fertilizer application to a more judicious and efficient use of nutrients, tailored to the specific needs of each crop.

Furthermore, there is a growing trend towards the adoption of organic and bio-fertilizers as part of sustainable agriculture in Vietnam. Organic fertilizers, derived from various organic materials, offer a more balanced nutrient composition, promoting soil health and long-term fertility. In fact, the Vietnamese government has formulated an action plan to boost the production and usage of organic fertilizers, aiming to reduce the dependency on synthetic fertilizers and promote environmentally friendly farming practices.

In conclusion, the rising shift towards balanced nutrient management is not just a passing fad but a key and enduring trend in Vietnam's fertilizer market. This trend is driven by the growing understanding of the significance of balanced crop nutrition and the environmental impact of excessive fertilizer use. As the demand for specialty and organic fertilizers continues to surge, stakeholders in the market have a unique opportunity to contribute to sustainable agricultural practices and foster a greener future for Vietnam.

Segmental Insights

Crop Type Insights

Based on the category of crop type, the grains & cereals segment emerged as the dominant player in the Vietnamese market for fertilizers in 2022. One of the key reasons behind the dominance of grains and cereals in Vietnam's fertilizer market is the surging demand for higher yields of these crops. With the to grow population in Vietnam and the surrounding region continuing to grow at a rapid pace, the need for food has become increasingly pressing. As a result, there has been a heightened focus on improving the yield of staple crops such as rice, maize, and other grains and cereals, which in turn has driven the demand for fertilizers.

Another factor contributing to this trend is the growing global demand for Asian cuisine. Rice, being a primary ingredient in many Asian dishes, holds a significant position as a major cereal crop in Vietnam. As the popularity of Asian cuisine continues to rise across the globe, the demand for rice has also experienced a significant surge. Consequently, this further fuels the need for fertilizers to boost rice production to meet the ever-increasing demand. This symbiotic relationship between the demand for Asian cuisine and the necessity for fertilizers showcases the interconnectedness of various factors shaping the dominance of grains and cereals in Vietnam's fertilizer market.

Mode of Application Insights

The foliar spraying segment is projected to experience rapid growth during the forecast period. One of the main reasons for the dominance of foliar spraying in Vietnam's fertilizer market is its exceptional efficiency. This method allows for the rapid absorption of nutrients, leading to significantly quicker and more noticeable results. The nutrients are directly absorbed by the leaves of plants, bypassing the traditional pathway through the soil and root system. As a result, the nutrients become immediately available for the plants to utilize, promoting their growth and development.

The growing population and the limited availability of arable land in Vietnam have further contributed to the widespread adoption of foliar spraying. With an ever-increasing demand for food and agricultural products, farmers are faced with the challenge of maximizing crop yields on limited land resources. Utilizing foliar spraying provides a solution by enabling more precise application of fertilizers, minimizing wastage, and ultimately enhancing crop productivity.

Moreover, the extensive use of foliar spraying extends beyond fertilizer application; it also encompasses the administration of crop protection chemicals. This method proves to be particularly effective in delivering these essential chemicals, further solidifying its dominance in the market. Its versatility and efficacy make foliar spraying a preferred choice for farmers, ensuring optimal plant nutrition and protection.

By leveraging the advantages of foliar spraying, Vietnamese farmers are able to overcome the challenges posed by a growing population and limited arable land, ultimately contributing to sustainable agriculture and food security in the region.

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Regional Insights

  • Central emerged as the dominant player in the Vietnam Fertilizers Market in 2022, holding the largest market share in terms of value. One of the key factors contributing to Central Vietnam's dominance in the fertilizer market is its remarkable agricultural prominence. The region boasts a rich and fertile land that supports a wide range of agricultural activities. From growing staple crops like rice and maize, which are the foundation of the local food supply, to cultivating cash crops such as coffee and pepper, Central Vietnam showcases its agricultural diversity and productivity.
  • This diversity and intensity of farming activities in Central Vietnam create a strong demand for fertilizers. Farmers in the region rely on these essential nutrients to enhance the growth and yield of their crops. The need for fertilizers is not only driven by the scale of agricultural operations but also by the commitment to sustainable farming practices and maximizing productivity.
  • In addition to the thriving agricultural sector, the presence of major domestic fertilizer companies further strengthens Central Vietnam's position in the market. These companies, with their extensive expertise and resources, play a vital role in meeting the diverse needs of farmers in the region. With a market share of about 70%, these fertilizer companies offer a wide range of products specifically tailored to the local soil conditions and crop requirements, ensuring optimal results for farmers.

Recent Developments

  • In June 2022, Duc Giang Chemicals Group announced its plans to invest in two significant projects in Dok Nong province. The first project, the Duc Giang-Dak Nong Fertilizer Factory, will have a total investment of 13.16 million USD and a production capacity of 200,000 tons per year of NPK fertilizer. This state-of-the-art facility aims to contribute to the agricultural sector by providing high-quality fertilizers to support crop growth and enhance productivity.
  • The second project, the Aluminum-Dak Nong Complex, is expected to have a mining scale of approximately 14.4 million tons of bauxite ore per year. With this ambitious venture, Duc Giang Chemicals Group aims to tap into the potential of the region's rich mineral resources and contribute to the economic development of Dak Nong province.
  • Moving on to April 2022, PetroVietnam Fertilizer and Chemical Corp. introduced a new product line called Phu My NPK - microbiology. This innovative offering combines inorganic fertilizer NPK with beneficial microorganisms, aiming to enhance soil fertility and improve crop productivity. By incorporating microbiology into their fertilizer products, PetroVietnam Fertilizer and Chemical Corp. demonstrates its commitment to sustainable agriculture and environmental stewardship.
  • In November 2021, PetroVietnam Fertilizer and Chemical Corp. launched two new product formula lines: PHU MY 18-12-8+TE and NPK 18-10-8+8+TE. These advanced formulas are tailored to meet the specific nutritional needs of crops, offering high protein content and quick dissolving properties. With these innovative products, farmers can optimize nutrient uptake and promote healthier plant growth, ultimately leading to higher yields.
  • These recent developments in the fertilizers and chemicals industry highlight the commitment of both Duc Giang Chemicals Group and PetroVietnam Fertilizer and Chemical Corp. to drive growth, innovation, and sustainability in their respective fields.

Key Market Players

  • Ninh Binh Phosphate Fertilizer JSC
  • Southern Fertilizer JSC
  • Thien Sinh JSC
  • Binh Dien Fertilizer JSC (BFC)
  • Can Tho Fertilizer & Chemical JSC

 By Crop Type

By Mode of Application

By Region

  • Grains & Cereals
  • Pulses & Oilseeds
  • Commercial Crops
  • Fruits & Vegetables
  • Others
  • Foliar Spraying
  • Fertigation
  • Sowing
  • Drip Method
  • Others
  • Northern
  • Central
  • Southern


Report Scope:

In this report, the Vietnam Fertilizers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Fertilizers Market, By Crop Type:

o   Grains & Cereals

o   Pulses & Oilseeds

o   Commercial Crops

o   Fruits & Vegetables

o   Others

  • Vietnam Fertilizers Market, By Mode of Application:

o   Foliar Spraying

o   Fertigation

o   Sowing

o   Drip Method

o   Others

  • Vietnam Fertilizers Market, By Region:

o   Northern

o   Central

o   Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Fertilizers Market.

Available Customizations:

Vietnam Fertilizers Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vietnam Fertilizers Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]               

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Applications

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Vietnam Fertilizers Market Outlook

4.1.  Market Size & Forecast

4.1.1. By Value & Volume

4.2.  Market Share & Forecast

4.2.1. By Crop Type (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Others)

4.2.2. By Mode of Application (Foliar Spraying, Fertigation, Sowing, Drip Method, Others)

4.2.3. By Region

4.2.4. By Company

4.3.  Market Map

4.3.1. By Crop Type

4.3.2. By Mode of Application

4.3.3. By Region

5.    Northern Fertilizers Market Outlook

5.1.  Market Size & Forecast          

5.1.1. By Value

5.2.  Market Share & Forecast

5.2.1. By Crop Type

5.2.2. By Mode of Application

6.    Central Fertilizers Market Outlook

6.1.  Market Size & Forecast          

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Crop Type

6.2.2. By Mode of Application

7.    Southern Fertilizers Market Outlook

7.1.  Market Size & Forecast          

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Crop Type

7.2.2. By Mode of Application

8.    Market Dynamics

8.1.  Drivers

8.2.  Challenges

9.    Market Trends & Developments

9.1.  Recent Developments

9.2.  Product Launches

9.3.  Mergers & Acquisitions

10.  Policy & Regulatory Landscape

11.  Vietnam Economic Profile

12.  Competitive Landscape

12.1.          Ninh Binh Phosphate Fertilizer JSC

12.1.1.  Business Overview

12.1.2.  Company Snapshot

12.1.3.  Products & Services

12.1.4.  Current Capacity Analysis

12.1.5.  Financials (In case of listed)

12.1.6.  Recent Developments

12.1.7.  SWOT Analysis

12.2.          Southern Fertilizer JSC

12.3.          Thien Sinh JSC

12.4.          Binh Dien Fertilizer JSC (BFC)

12.5.          Can Tho Fertilizer & Chemical JSC

13.  Strategic Recommendations

14.  About us & Disclaimer

Figures and Tables

Frequently asked questions


The market size of the Vietnam Fertilizers Market was estimated to be 5.14 MMT in 2022.


The foliar spraying segment demonstrated significant dominance in 2022. Foliar spraying is a cost-effective method to apply fertilizers using simple equipment like a backpack sprayer.


Central region dominated the market with a revenue share in 2022. This is due to its agricultural prominence, favorable government policies, and major fertilizer company presence.


Rise in agricultural practices and growth in crop diversity are the major drivers for the Vietnam Fertilizers Market.


Sakshi Bajaal

Business Consultant
Press Release

Vietnam Fertilizers Market to Grow with a CAGR of 4.31% through 2028

Dec, 2023

Growth in research and development activities is expected to drive the Vietnam Fertilizers Market growth in the forecast period, 2024-2028.