Vietnam Specialty Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

The Vietnam Specialty Fertilizer Market is segmented Market Snapshot , Speciality Type ( CRF, Liquid Fertilizer, SRF, Water Soluble, Others ) , Application Mode ( Fertigation, Foliar, Soil ) and Crop Type ( Field Crops, Horticultural Crops, Turf & Ornamental )

Market Snapshot

https://s3.mordorlabs.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period: 2016 - 2028
https://s3.mordorlabs.com/base%20year/1629296433432_test~base_year_base_year.svg Base Year: 2021
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Speciality Type: Water Soluble
https://s3.mordorlabs.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Fastest Growing by Speciality Type: Liquid Fertilizer
https://s3.mordorlabs.com/cagr/1629296433433_test~cagr_cagr.svg CAGR: 5.72 %

Key Players

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Market Overview

The Vietnam Specialty Fertilizer Market stood at 542.11 million USD in 2022 and is projected to register a CAGR of 5.72% to reach 756.96 million USD in 2028.

  • Largest segment by Speciality Type - Water Soluble : These are the most affordable Speciality fertilizers and can be applied through different methods of application like foliar, fertigation based on the need of thefarmers.
  • Fastest growing by Speciality Type - Liquid Fertilizer : The demand for liquid fertilizer in the country keeps up, as the soils in the region are dry and liquid fertilizers ensure easy absorption of nutrients by the plants
  • Largest Segment by Crop Type - Horticultural Crops : Vietnam has great potential in the Horticulture industry with growing demand for high-value crops, and even the government trying to increase the area under cultivation.
  • Largest segment by Application Mode - Fertigation : It is the most efficient and effort less method of fertilizer application. Ita adaption has increased with the increased adaption of micro irrigation systems in the country.

Scope of the Report

CRF, Liquid Fertilizer, SRF, Water Soluble, Others are covered as segments by Speciality Type. Fertigation, Foliar, Soil are covered as segments by Application Mode. and Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.
Speciality Type
CRF
Polymer Coated
Polymer-Sulfur Coated
Others
Liquid Fertilizer
SRF
Water Soluble
Others
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental

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Key Market Trends

Why is Water Soluble the largest segment by Speciality Type?

  • Water-soluble fertilizers account for a share of 52.4% of the total specialty fertilizers used in the country. The Vietnam water soluble fertilizer market was valued at USD 271.8 million in the year 2021, with a volume consumption of 485.8 thousand metric tons in the same year. This is due to the ease of application of water-soluble fertilizers through micro irrigation systems.
  • It is observed that the market has seen a slightly decreasing trend since 2017. The market dip in 2018 is associated with floods and landslides in the Northern region of Vietnam which have destroyed around 1,203 hectares of crops leading to the market dip. Furthermore, the international trade disruptions and demand drop in 2020 due to the COVID-19 lockdown have caused decreasing trend after 2019. However, the volume consumption of specialty fertilizers stayed constant at 1.4 million metric tons over the years.
  • Moreover, liquid fertilizer take the second position in consumption, accounting for 46.6% of the total specialty fertilizers consumed in the country with a  market value for of USD 242.0 million in 2021, with a volume consumption of 459.3 thousand metric ton in the same year. This is followed by Controlled release fertilizers and Slow release fertilizers with a share of 0.65% and 0.21 % respectively.
  • These CRF and SRF fertilizers are which generally release the nutrients in a paced manner and make the nutrients available to the crops throughout the season depending on various soil factors. This nature of  CRF and SRF fertilizers reduces the amount of fertilizer applied to the soil and thus helps in reducing environmental degradation and give economical benefits to the farmers.
  • Hence, the market for specialty fertilizers is anticipated to grow, owing to efficiency of these fertilizers.

Competitive Landscape

The Vietnam Specialty Fertilizer Market is moderately consolidated, with the top five companies occupying 53.07%. The major players in this market are Baconco, Compo Expert GmbH, Duc Giang Chemicals Group, Hebei Sanyuanjiuqi Fertilizer Co., Ltd. and Yara Vietnam (sorted alphabetically).

Major Players

  1. Baconco

  2. Compo Expert GmbH

  3. Duc Giang Chemicals Group

  4. Hebei Sanyuanjiuqi Fertilizer Co., Ltd.

  5. Yara Vietnam

*Disclaimer: Major Players are sorted alphabetically

Market Developments

  • November 2020: Duc Giang Chemicals Group launched two new fertilizer products called Anti-Salinity and Anti-Alum. These products helps palnt to resist salinity and alum, provide poly and mesoelement nutrients to plants.
  • January 2019: Haifa Group launched NutriNet, an online expert system which aims to support and optimize the process of creating customized fertilization programs. It assist growers in setting fertilization programs at free of cost.
  • December 2018: COMPO EXPERT got merged into Groupa Azoty a largest nitrogen fertilizer manufacturing company in europe to devolop their business.

Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study​

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Acreage Of Major Crop Types

    2. 4.2 Average Nutrient Application Rates

    3. 4.3 Regulatory Framework

    4. 4.4 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Speciality Type

      1. 5.1.1 CRF

        1. 5.1.1.1 Polymer Coated

        2. 5.1.1.2 Polymer-Sulfur Coated

        3. 5.1.1.3 Others

      2. 5.1.2 Liquid Fertilizer

      3. 5.1.3 SRF

      4. 5.1.4 Water Soluble

      5. 5.1.5 Others

    2. 5.2 Application Mode

      1. 5.2.1 Fertigation

      2. 5.2.2 Foliar

      3. 5.2.3 Soil

    3. 5.3 Crop Type

      1. 5.3.1 Field Crops

      2. 5.3.2 Horticultural Crops

      3. 5.3.3 Turf & Ornamental

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 Baconco

      2. 6.4.2 Compo Expert GmbH

      3. 6.4.3 Duc Giang Chemicals Group

      4. 6.4.4 Haifa Group

      5. 6.4.5 Hebei Sanyuanjiuqi Fertilizer Co., Ltd.

      6. 6.4.6 Yara Vietnam

  7. 7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter’s Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

    Figure 1:  

    VIETNAM MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 2:  

    VIETNAM MARKET, AREA YOY GROWTH RATE, 2016 - 2021

    Figure 3:  

    VIETNAM SPECIALTY FERTILIZER MARKET, VOLUME, METRIC TON, 2016 - 2028

    Figure 4:  

    VIETNAM SPECIALTY FERTILIZER MARKET, VALUE, USD, 2016 - 2028

    Figure 5:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, VOLUME, METRIC TON, 2016 - 2028

    Figure 6:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, VALUE, USD, 2016 - 2028

    Figure 7:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 8:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 9:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, VOLUME, METRIC TON, 2016 - 2028

    Figure 10:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, VALUE, USD, 2016 - 2028

    Figure 11:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY COATING TYPE, 2016 - 2028

    Figure 12:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY COATING TYPE, 2016 - 2028

    Figure 13:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, POLYMER COATED, METRIC TON, 2016 - 2028

    Figure 14:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, POLYMER COATED, USD, 2016 - 2028

    Figure 15:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 16:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, POLYMER-SULFUR COATED, METRIC TON, 2016 - 2028

    Figure 17:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, POLYMER-SULFUR COATED, USD, 2016 - 2028

    Figure 18:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 19:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, OTHERS, METRIC TON, 2016 - 2028

    Figure 20:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY COATING TYPE, OTHERS, USD, 2016 - 2028

    Figure 21:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 22:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, LIQUID FERTILIZER, METRIC TON, 2016 - 2028

    Figure 23:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, LIQUID FERTILIZER, USD, 2016 - 2028

    Figure 24:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 25:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, SRF, METRIC TON, 2016 - 2028

    Figure 26:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, SRF, USD, 2016 - 2028

    Figure 27:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 28:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, WATER SOLUBLE, METRIC TON, 2016 - 2028

    Figure 29:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, WATER SOLUBLE, USD, 2016 - 2028

    Figure 30:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 31:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, OTHERS, METRIC TON, 2016 - 2016

    Figure 32:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY SPECIALITY TYPE, OTHERS, USD, 2016 - 2016

    Figure 33:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2016

    Figure 34:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, VOLUME, METRIC TON, 2016 - 2028

    Figure 35:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, VALUE, USD, 2016 - 2028

    Figure 36:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 37:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY APPLICATION MODE, 2016 - 2028

    Figure 38:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, METRIC TON, 2016 - 2028

    Figure 39:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, FERTIGATION, USD, 2016 - 2028

    Figure 40:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 41:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, METRIC TON, 2016 - 2028

    Figure 42:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, FOLIAR, USD, 2016 - 2028

    Figure 43:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 44:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, SOIL, METRIC TON, 2016 - 2028

    Figure 45:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY APPLICATION MODE, SOIL, USD, 2016 - 2028

    Figure 46:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 47:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, VOLUME, METRIC TON, 2016 - 2028

    Figure 48:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, VALUE, USD, 2016 - 2028

    Figure 49:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 50:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY CROP TYPE, 2016 - 2028

    Figure 51:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, METRIC TON, 2016 - 2028

    Figure 52:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, FIELD CROPS, USD, 2016 - 2028

    Figure 53:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 54:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, METRIC TON, 2016 - 2028

    Figure 55:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, HORTICULTURAL CROPS, USD, 2016 - 2028

    Figure 56:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 57:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, METRIC TON, 2016 - 2028

    Figure 58:  

    VIETNAM SPECIALTY FERTILIZER MARKET, BY CROP TYPE, TURF & ORNAMENTAL, USD, 2016 - 2028

    Figure 59:  

    VIETNAM SPECIALTY FERTILIZER MARKET MARKET, SHARE(%), BY SPECIALITY TYPE, 2016 - 2028

    Figure 60:  

    VIETNAM SPECIALTY FERTILIZER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021

    Figure 61:  

    VIETNAM SPECIALTY FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021

    Figure 62:  

    VIETNAM SPECIALTY FERTILIZER MARKET SHARE(%), BY MAJOR PLAYERS, 2021

Market Definition

  • AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
  • CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, Fiber Crops, and Forage Crops, Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
  • MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
  • NUTRIENT TYPES COVERED - Primary Nutrients: N, P and K, Secondary Macronutrients: Ca, Mg and S, Micronutients: Zn, Mn, Cu, Fe, Mo, B, and Others

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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms

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Frequently Asked Questions

The Vietnam Specialty Fertilizer Market market is studied from 2016 - 2028.

The Vietnam Specialty Fertilizer Market stood at 542.11 million USD in 2022 and is projected to register a CAGR of 5.72% to reach 756.96 million USD in 2028.

These are the most affordable Speciality fertilizers and can be applied through different methods of application like foliar, fertigation based on the need of thefarmers.

The demand for liquid fertilizer in the country keeps up, as the soils in the region are dry and liquid fertilizers ensure easy absorption of nutrients by the plants

Vietnam has great potential in the Horticulture industry with growing demand for high-value crops, and even the government trying to increase the area under cultivation.

It is the most efficient and effort less method of fertilizer application. Ita adaption has increased with the increased adaption of micro irrigation systems in the country.

Baconco,Compo Expert GmbH,Duc Giang Chemicals Group,Hebei Sanyuanjiuqi Fertilizer Co., Ltd. and Yara Vietnam. are the major companies operating in Vietnam Specialty Fertilizer Market.