Vietnam Organic Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Vietnam Organic Fertilizer Manufacturers and it is segmented by Product (Organic Residues and Biofertilizer), and Application (Grains and Cereals, Oilseeds, Fruits and Vegetables, Turf and Ornamentals, and Other Applications). The market size and forecasts in terms of value in USD thousand for all the above segments.

Vietnam Organic Fertilizer Market Size

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Vietnam Organic Fertilizer Market Summary
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

Vietnam Organic Fertilizer Market 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 Market Trends

This section covers the major market trends shaping the Vietnam Organic Fertilizer Market according to our research experts:

Decreasing Arable Land

The country has lost a major portion of its arable land due to erosion or pollution in the past few years. The continual plowing of fields, combined with the heavy use of synthetic fertilizers has degraded soils around the country. Currently, the country is facing a reduction in arable land, due to which the farmers are switching to organic farming for production and to meet the food demand.

The growth in population in the country leads to a rise in demand for food. As the availability of arable land is limited, land management and crop yield management have become important factors in Vietnam. As per the World Bank, the arable land in the country was 21.7% of the land area in 2021. Furthermore, the total arable land in the country was 6,988,300 hectares in 2017 which declined by approximately 2.9% and reached 6,787,000 hectares in 2020. Since the arable land is continuously declining in the area, the agriculture industry in the country is under pressure to produce more food crops to meet the demand and because of this the agriculture industry in Vietnam largely depends on organic fertilizers to increase soil productivity.

Furthermore, players and governments present in the market are taking several initiatives to boost crop yields by using organic fertilizers in farming. For instance, in 2022, the Ministry of Agriculture and Rural Development (MARD) of Vietnam planned to have local production using 25 percent organic fertilizers in the next three years.

Since, the decreasing arable land would result in a lesser area available for cultivation, hence productivity needs to be improved within this area and hence the use of organic fertilizers would facilitate better plant growth and yield. Furthermore, with the increasing awareness and government initiatives related to organic fertilizers the market studied is anticipated to grow over the forecast period.

Vietnam Organic Fertilizers Market: Arable Land in Hectares, 2017-2020

Farm Yard Manure Expected to Rule the Vietnamese Organic Fertilizers Market

The factors which makes farm yard manure better than its counterparts are that farm yard manure contains all nutrients necessary for crops. The nutrients are in organic forms and degrade gradually so that nutrients can be slowly released into the soil without being washed away. It can be produced in households, so it's readily available for crops. Furthermore, this organic fertilizer is easily produced with manual methods.

Farmers in the country mostly prefer organic fertilizers such as farmyard manure due to their positive effects in increasing the number of beneficial microorganisms in the soil such as nitrogen fixation microorganisms, phosphorus decomposition microorganisms, helps plants absorb nutrients in the soil more easily and also improves the quality of agricultural products.

Furthermore, the increasing number of livestock has a direct relation with the production of the farm yard manure, as farm yard is a decomposed mixture of dung, urine, litter, and leftover materials from roughages and fodder fed to animals and in the past few years, an increase in the number of livestock have been seen especially dairy cows, pigs, and chicken in the country and this is expected to back up the farm yard manure (FYM) industry in Vietnam during the forecast period. For instance, as per a database published by FAO, the cattle population in Vietnam was 5.7 million in 2017 which increased by 10.2% and reached 6.2 million in 2020. Annually, livestock production leads to more than 85 million metric ton of manure, tens of billions of cubic meter liquid waste, and several hundred million ton of exhausted gas. Thus, due to the increasing livestock farming in the country, there is rising adoption of farm yard manure. This trend is likely to accelerate over the forecast period.

Vietnam Organic Fertilizers Market:  Cattle Population in Millions, Vietnam, 2017-2020

Vietnam Organic Fertilizer Industry Overview

Vietnam Organic Fertilizers Market is a fragmented. The major players in the market are Binh Dien Fertilizer Joint Stock Company, Can Tho Fertilizer & Chemical Jsc, Baconco Vietnam, Que Lam Group, and Bioway Hitech Joint Stock Company. Partnerships, product launches, mergers and acquisitions, and R&D investments are some of the most adopted strategies by players in the market.

Vietnam Organic Fertilizer Market Leaders

  1. Binh Dien Fertilizer Joint Stock Company

  2. Can Tho Fertilizer & Chemical Jsc

  3. Baconco Vietnam

  4. Que Lam Group

  5. Bioway Hitech Joint Stock Company

*Disclaimer: Major Players sorted in no particular order

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Vietnam Organic Fertilizer Market News

  • November 2022: The Ministry of Agriculture and Rural Development (MARD) in Vietnam has set a target of raising the proportion of organic fertilizer products authorized for circulation to 25% by 2025.
  • October 2022: Nescafe unveils USD 1 billion plan for coffee sustainability, focusing on Vietnam. The Nescafe Plan 2030 will help coffee farmers plant carbon sequestering crops, increase the use of organic fertilizers, improve bio-diversity and provide disease and climate-change-resistant coffee trees.
  • April 2022: The Vietnamese government issued a decision to promote environmental protection to 2030 with a vision to 2050. In the decision, the government prioritizes ecological agriculture and organic agriculture, in parallel with the abandonment of inorganic fertilizer, chemical pesticides, and antibiotics in cultivation, animal husbandry, and aquaculture.

Vietnam Organic Fertilizer Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product

      1. 5.1.1 Organic Residues

        1. 5.1.1.1 Farm Yard Manure

        2. 5.1.1.2 Crop Residues

        3. 5.1.1.3 Green Manure

        4. 5.1.1.4 Other Products

      2. 5.1.2 Biofertilizer

        1. 5.1.2.1 Azotobacter

        2. 5.1.2.2 Rhizobium

        3. 5.1.2.3 Azospirillum

        4. 5.1.2.4 Blue-Green Algae

        5. 5.1.2.5 Azolla

        6. 5.1.2.6 Mycorrhiza

        7. 5.1.2.7 Other Biofertilizers

    2. 5.2 Application

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Oilseeds

      3. 5.2.3 Fruits and Vegetables

      4. 5.2.4 Turf and Ornamentals

      5. 5.2.5 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Global Fertilizer Investment Corporation

      2. 6.3.2 Binh Dien Fertilizer Joint Stock Company

      3. 6.3.3 Bioway Hitech Joint Stock Company

      4. 6.3.4 Baconco Vietnam

      5. 6.3.5 Ha Lan Fertilizer Corporation

      6. 6.3.6 Que Lam Group

      7. 6.3.7 Long Viet

      8. 6.3.8 VALVA Co. Ltd

      9. 6.3.9 Gold Tech

      10. 6.3.10 Sinh Dien Thien Sinh JSC

      11. 6.3.11 Can Tho Fertilizer & Chemical JSC

      12. 6.3.12 Song Gianh Fertilizer Company

      13. 6.3.13 Vietagro

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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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.

Product
Organic Residues
Farm Yard Manure
Crop Residues
Green Manure
Other Products
Biofertilizer
Azotobacter
Rhizobium
Azospirillum
Blue-Green Algae
Azolla
Mycorrhiza
Other Biofertilizers
Application
Grains and Cereals
Oilseeds
Fruits and Vegetables
Turf and Ornamentals
Other Applications
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Vietnam Organic Fertilizer Market Research FAQs

The Vietnam Organic Fertilizer Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)

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.

The report covers the Vietnam Organic Fertilizer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam Organic Fertilizer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Vietnam Organic Fertilizer Industry Report

Statistics for the 2024 Vietnam Organic Fertilizer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Organic Fertilizer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Vietnam Organic Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)