Market Snapshot
2015-2024
2018
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Market Overview
The Vietnam Fertilizers Market was valued at USD 1709.4 million in 2018 and is forecasted to reach a value of USD 2261.9 million in 2024 witnessing a CAGR of 4.73% over the forecast period 2019-2024.
Currently, the Vietnamese government has been implementing new farming practices in the form of Integrated Pest Management (IPM) policies and is emphasizing on the adoption of organic farming. The Ministry of Agriculture and Rural Development (MARD) has also become more stringent regarding maximum residue limits (MRLs) in food.
Scope of the Report
A fertilizer is a a natural or synthetic, generally chemical-based substance that is added to plants either directly or indirectly to enhance fertility and growth along with water retention and soil effectiveness. For the purpose of this report, the fertilizers used in agriculture have been considered. The scope of the report includes both synthetic (inorganic) and organic fertilizers, including biofertilizers.
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| Pulses & Oilseeds | |
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Key Market Trends
Increasing Area of Arable Land in Vietnam is Driving the Fertilizers Market
Vietnam has adopted the revised land law, which was effective since 1 July, 2014. AS per this law, farmers were issued 50-year user rights to their agricultural land, including their basic annual-cropland. This lead to an increase in the area of agricultural land in the country.
The increase in the area of arable land, coupled with the government’s initiative for increasing agricultural exports, is expected to drive the Vietnamese fertilizer market’s growth. This growth is further fueled by high returns from the market and increased demand for food consumption in the country. The area of land under rice crop has decreased significantly, due to an increase in the area of land under annual perennial crops.
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Organic Fertilizer is the Segment Growing Faster than Chemical Fertilizers
The organic fertilizers market in Vietnam is expected to witness a CAGR of 11.2%, during the forecast period 2019-2024.
Currently, the Vietnamese government has been implementing new farming practices in the form of integrated pest management (IPM) policies and is emphasizing on the adoption of organic farming. The Ministry of Agriculture and Rural Development (MARD) has also become more stringent regarding maximum residue limits (MRLs) in food. Therefore, these factors can be considered as major steps toward the adoption of organic farming practices and the use of organic fertilizers, significantly.
Competitive Landscape
The fertilizer industry in Vietnam is fragmented with local players dominating 72% of the market. The top five players constitute around 28% of the market, based on the overall Vietnam fertilizers market revenue in 2018. Fertilizer industry in the country operates with the government involvement to protect domestic producers and farmers. Dealer system, regional company system, and definitive purchase are the most popular distribution channels in the country.
Major Players
- Binh Dien Fertilizer JSC (BFC)
- Southern Fertilizer JSC
- PetroVietnam Fertilizer and Chemical Corp.
- Ninh Binh Phosphate Fertilizer JSC
* Complete list of players covered available in the table of contents below
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
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4.4 Market Restraints
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4.5 Porter's Five Forces Analysis
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4.5.1 Bargaining Power of Suppliers
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4.5.2 Bargaining Power of Buyers
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4.5.3 Threat of New Entrants
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4.5.4 Threat of Substitute Products
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4.5.5 Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Product Group/Segment
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5.1.1 Synthetic Fertilizers
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5.1.1.1 Nitrogenous Fertilizers
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5.1.1.2 Phosphatic Fertilizers
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5.1.1.3 Potash Fertilizers
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5.1.1.4 Other Synthetic Fertilizers
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5.1.2 Organic Fertilizers
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5.1.2.1 Organic Residues
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5.1.2.2 Biofertilizers
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5.2 Crop Type
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5.2.1 Grains & Cereals
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5.2.2 Pulses & Oilseeds
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5.2.3 Fruits & Vegetables
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5.2.4 Other Crop Types
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 Ninh Binh Phosphate Fertilizer JSC
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6.3.2 Southern Fertilizer JSC
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6.3.3 Petrovietnam Fertilizer and Chemicals Corporation
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6.3.4 Lam Thao Fertilizers and Chemicals JSC
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6.3.5 PetroVietnam Ca Mau Fertilizer JSC
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6.3.6 Binh Dien Fertilizer JSC (BFC)
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6.3.7 Ha Bac Nitrogen Fertilizers and Chemical Company
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6.3.8 Que Lam Group
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6.3.9 Agricultural Products and Materials JSC (APROMACO)
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6.3.10 Song Gianh Corporation
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6.3.11 Thien Sinh JSC
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6.3.12 DAP Dinh Vu Fertilizers
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6.3.13 DUC Giang Chemicals
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
