Vietnam Fertilizers Market
The Vietnam fertilizer market was estimated at USD 1740 million in 2017 and is expected to reach to USD XX million by 2022, at a CAGR of 7.59%. Currently, the market is less regulated, less technologically, highly competitive, and has good opportunities for growth in the biofertilizers segment in Vietnam. Agriculture is the most important economic sector in the country and more than 70% of Vietnam’s population is dependent on it. Agricultural land occupies 80% of the country’s area and as a large agricultural producer, the country offers opportunities for growth of agrochemical companies.
Vietnam Fertilizer industry has been witnessing a relatively steady to high growth due to the expanding demand for agricultural produce in the region. While the prevalence of chemical or synthetic based fertilizers application in agricultural land would continue, human, animal, and environmental health concerns would play key roles in driving growth for safer products like organic and biofertilizers. Major drivers include an increase in arable land, lowering of global fertilizer prices and adoption of new farming practices. Restraints include environmental and regulatory constraints pertaining to agrochemical usages, growing demand for food safety and quality, and market saturation.
By segment, biofertilizers are likely to witness faster growth in comparison to synthetic chemicals in Vietnam. By application area, fertilizers demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds, and fruits & vegetables) and non-crop-based (including turf & ornamental grass etc.) applications.
Key Industry Players
The analysis of major companies in the Vietnam fertilizers industry has taken into account strategy adopted, financial revenues and the latest developments in the market.
Some of the leading players covered include:
Makhteshim Agan Industries Ltd.
E.I. Du Pont De Nemours & Company
Dow Agrosciences Llc.
Key Deliverables in the Study
Market analysis for the Vietnam fertilizers market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies along with their market shares.
Identification and analysis of the macro and micro factors that affect the Vietnam fertilizers market.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights into the major regions of the country where this industry is growing and identifying the regions still untapped.