Market Size of vietnam biofertilizer Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 256.98 Thousand |
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Market Size (2029) | USD 404.46 Thousand |
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Largest Share by Form | Mycorrhiza |
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CAGR (2024 - 2029) | 9.50 % |
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Fastest Growing by Form | Rhizobium |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Vietnam Biofertilizer Market Analysis
The Vietnam Biofertilizer Market size is estimated at 256.98 thousand USD in 2024, and is expected to reach 404.46 thousand USD by 2029, growing at a CAGR of 9.50% during the forecast period (2024-2029).
256.98 Thousand
Market Size in 2024 (USD)
404.46 Thousand
Market Size in 2029 (USD)
2.60 %
CAGR (2017-2023)
9.50 %
CAGR (2024-2029)
Largest by Form
66.38 %
value share, Mycorrhiza, 2023
The mycorrhizal association helps boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increase yield upto 50%.
Fastest by Form
11.59 %
Projected CAGR, Rhizobium, 2024-2029
The application of rhizobium-based biofertilizers is recommended in leguminous crops like for crops. In these crops, rhizobium biofertilizer can increase the yield upto 35%.
Largest by Crop Type
56.82 %
value share, Horticultural Crops, 2023
The domination of the horticultural crops is mainly due to their large organic cultivation area, which account for about 59.4% of the total organic crop area in 2021.
Fastest by Crop Type
9.80 %
Projected CAGR, Cash Crops, 2024-2029
The major cash crop grown in the country includes Coffee, tea, rubber and spices crops. Mycorrhiza-based biofertilizers are mostly consumed biofertilizers in cash crops.
Leading Market Player
29.82 %
market share, DAI THANH JOINT STOCK COMPANY, 2022
The Dai Thanh Joint Stock Company has developed its products in liquid and water-soluble forms making them suitable for the foliar spraying method and for crop types.
- The biofertilizer market in the country grew by 2.1% during the historical period (2017-2021). The limited growth of the biofertilizer market in the country is mainly attributed to the limited increase in overall organic cultivation area, which increased by 3.2 thousand hectares between 2017 and 2021. However, the market value of biofertilizers is anticipated to increase by about 71.6% by the end of the forecast period.
- The consumption of mycorrhiza-based biofertilizers is dominant in the country, accounting for about USD 143.7 thousand in 2022. The dominance of these biofertilizers is because the mycorrhizal association has the potential to boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increasing yield by about 30-50%. Even though mycorrhiza dominates the market, Rhizobium-based biofertilizers are anticipated to increase faster than other biofertilizers during the forecast period.
- The consumption of biofertilizers is dominant in fruit and vegetable crops, accounting for about USD 133.9 thousand in 2022. The domination of horticultural crops is mainly due to their large cultivation area in the country, i.e., about 59.4% of the total organic crop area in 2021.
- There is a huge demand for organic products in domestic and international markets. The overuse of chemical fertilizers is one of the major challenges in the country. The Vietnamese government authorities are promoting sustainable or organic cultivation practices through various schemes or programs by providing incentives for biofertilizers, which may drive the market during the forecast period.
Understand The Key Trends Shaping This Market
