Vietnam Organic Fertilizer Market Size

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.