Vietnam Fertilizer Market Overview - Key Futuristic Trends and Competitive Landscape by 2027

The Vietnam fertilizer market is witnessing steady growth, driven by the country's focus on agricultural expansion and productivity enhancement. According to a report by Allied Market Research, the market generated $4.5 billion in 2019 and is projected to reach $5.7 billion by 2027, growing at a CAGR of 3.8% from 2020 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A06727

Market Dynamics

Growth Drivers:

- The increasing emphasis on improving agricultural productivity is a primary factor fueling market growth.

- Rising demand for organic fertilizers presents lucrative opportunities for market players.

Challenges:

- Climate variability continues to impact farming activities, posing a restraint to market growth.

- Disruptions in logistics and clearance procedures for raw materials, especially those imported from China, have led to fluctuating fertilizer prices in Vietnam.

Market Segmentation

The Vietnam fertilizer market is categorized based on type, form, application/crop type, nutrient content, and region.

By Type:

- Inorganic fertilizers dominated the market in 2019, accounting for over 80% of the total share. This segment is expected to maintain its lead throughout the forecast period.

- Organic fertilizers, however, are projected to witness the highest CAGR of 6.9% from 2020 to 2027, driven by increasing consumer preference for sustainable farming practices.

By Form:

- The dry fertilizer segment held the largest market share in 2019 (over 80%) and is expected to continue leading the market.

- The liquid fertilizer segment is anticipated to grow at the highest CAGR of 4.4% during the forecast period.

By Region:

- Southern Vietnam accounted for the highest market share in 2019, contributing over 50% of total revenue. It is expected to maintain its dominance through 2027.

- Central Vietnam is projected to register the highest CAGR of 4.2% during the forecast period.

Key Market Players

Prominent companies operating in the Vietnam fertilizer market include:

- Baconco

- Agricultural Products and Materials Joint Stock Company

- General Materials and Biochemical Fertilizer Joint Stock Company

- Duc Giang Chemicals Group

- SongGianh Corporation (SongGianh)

- Japan Vietnam Fertilizer Company (JVF)

- Vedan Vietnam Enterprise Corp. Ltd.

- Vietnam National Chemical Group (Vinachem)

- Yara Vietnam

- Vietnam Oil and Gas Group (PetroVietnam or PVN)

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/vietnam-fertilizer-market-A06727

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.