Vietnam fertilizers market is
bound to experience impressive growth with anticipated CAGR in the forecast
period, 2023-2027, on the account of growing demand for increasing the crop
production and enhance the yields of the crop fields. Growing instances of crop
failure due to lack of nutrients in the soil and dwarfism in the plants &
crops further aided the demand for high-end fertilizers and their application
for the crops thereby driving the growth of the Vietnam fertilizers market in
the upcoming five years. Demands for organic product that can support the
growth of the crops as well as not affect the lands & environment also
support the growth of the Vietnam fertilizers market in the next five years.
Fertilizers are the chemical
compounds organic or synthetic that is applied over the crops or the crop lands
to supply the nutrient to the crops and enhance its growth. The growth can be
in terms of height of the crops, development of flowers & fruits of the
plant, etc. Various types of fertilizers based on what nutrient they provide
include, nitrogen fertilizers, inhibitor nitrogen fertilizers, phosphorus
fertilizers, potassium fertilizers, calcium, magnesium, and sulphur
fertilizers, micronutrient complex, etc. Some form of natural fertilizers that
the farmers utilize include manure, slurry, worm castings, peat, seaweed and
guano.
Food Security Demands For
Rising Population Promises Market Growth
Rapidly growing population of
the country has raised the concern for food security among the population of
the country. The factor is one of the most important factor driving the growth
of the Vietnam fertilizers market in the upcoming five years. By the year 2021,
Vietnamese population crossed 98.51 million. With growing birth rate in the
country, the demands to provide food for all is increasing. In this case,
higher yielding crops are a must.
With 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, increase the production of the Agri products,
the demands for fertilizers are further increasing and driving the growth of
the Vietnam fertilizers market in the next five years. Surge in the demands
have also escalated the productions of fertilizers in the country such that the
dependency on the imported products can be decreased.
Environment Friendly Product
Demands Substantiates Market Growth
The farmers now are well
aware of the harmful effects of the chemically infused fertilizers. The
chemically infused products severely affect the soil quality, soil aging,
nutritive content of the agricultural lands, and affects the animals grazing
over fodder due to chemical accumulations. Moreover, the runoff chemical fertilizers
also enter the water bodies and affects marine life. Bio-accumulation in the
marine animals & plants further affects the human population.
Organic fertilizers and
natural fertilizers are highly in demand that also aid the growth of the
Vietnam fertilizers market in the future five years. The market players active
in the industry are focusing their resources to find organic alternatives of
the chemically infused products, along with enriching the soil with necessary
nutrients and avoid degradation of the environment. The government is also
promoting home-made organic fertilizers and their applications for home
gardens, etc. that mildly affects the market growth. Easier applicability of
the organic fertilizers also influences the farmer’s choice toward the product.

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Market Segmentation
The
Vietnam fertilizers market segmentation is based on origin, form, mode of
application, crop type, source, competitional landscape, and regional
distribution. Based on origin,
the market is further segmented into organic, synthetic, and bio-fertilizers.
By form, the market is differentiated between liquid and solid form. Based on mode
of application, the market is fragmented into foliar spraying, fertigation,
sowing, broadcasting, spraying, drip method, and others. By crop type, the
market is bifurcated into grains & cereals, pulses & oilseeds,
commercial crops, fruits & vegetables, and other. Based on source, the
market is divided between domestic and import. The market analysis also studies
the regional segmentation to devise regional market segmentation, divided among
Northern region, Central region, Southern region.
Company Profile
Ninh Binh Phosphate
Fertilizer JSC, Southern Fertilizer JSC, Petrovietnam Fertilizer and Chemicals
Corporation, Lam Thao Fertilizers and Chemicals JSC, Binh Dien Fertilizer JSC
(BFC), Ha Bac Nitrogen Fertilizers and Chemical Company, Que Lam Group, Agricultural
Products and Materials JSC (APROMACO), Thien Sinh JSC, Can Tho Fertilizer &
Chemical JSC, among others is a partial list of major market players of the companies
responsible for the growth of Vietnam fertilizers market.
Attribute
|
Details
|
Base Year
|
2021
|
Historical Data
|
2017 – 2020
|
Estimated Year
|
2022
|
Forecast Period
|
2023 – 2027
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
Segments covered
|
·
Origin
·
Form
·
Mode of Application
·
Crop Type
·
Source
|
Regional scope
|
Northern & Central region, Southern region, Eastern region,
Western region.
|
Key companies profiled
|
Ninh Binh Phosphate Fertilizer JSC, Southern Fertilizer JSC,
Petrovietnam Fertilizer and Chemicals Corporation, Lam Thao Fertilizers and
Chemicals JSC, Binh Dien Fertilizer JSC (BFC), Ha Bac Nitrogen Fertilizers
and Chemical Company, Que Lam Group, Agricultural Products and Materials JSC
(APROMACO), Thien Sinh JSC, Can Tho Fertilizer & Chemical JSC
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, Vietnam fertilizers market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Vietnam Fertilizers Market, By Type:
- Organic
- Synthetic
- Bio-fertilizers
- Vietnam Fertilizers Market, By Form:
- Vietnam Fertilizers Market, By Mode
of Application:
- Foliar Spraying
- Fertigation
- Sowing
- Broadcasting
- Spraying
- Drip Method
- Others
- Vietnam Fertilizers Market, By Crop
Type:
- Grains & Cereals
- Pulses & Oilseeds
- Commercial Crops
- Fruits & Vegetables
- Other
- Vietnam Fertilizers Market, By Source:
- Vietnam Fertilizers Market, By
Region:
o Northern Region
o Central Region
o Southern Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam Fertilizers market.
Available Customizations:
With the given market data, TechSci
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).
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