The Vietnam organic fertilizers market valued at USD 930.54 million in 2017 is expected to reach USD XX million by 2022, at a CAGR of 11%. Microbe-based biofertilizers, with its versatile approach towards plant productivity, accounts for the majority market share in the country. The Vietnam Biofertilizers market would reach USD XX million by 2022 at a CAGR of XX%.
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 the adoption of new farming practices, mounting demand for food safety and quality, high prices of organically produced crops, increased regulations on chemical residue limits and amplified arable land. Restraints include high synthetic fertilizers demand and easy regulatory structure, low product availability and low consumer awareness.
The Vietnam organic fertilizers market is divided into two major segments, depending on the source of nutrients and raw materials: organic residue based fertilizers and biofertilizers. By major product types, the market includes farmyard manure (FYM), crop residues, green manures; animal based products like blood meal, bone meal, and mineral based products like Epsom salt.
Out of the many bacterial strains, nitrogen-fixing microorganisms like rhizobium, azotobacter, and phosphate solubilizing bacteria are commercially more popular due to their higher usage in many food crops. Azotobacter is one of the popular nitrogen fixing bacteria that accounts for more than 20% of the market share. By application area, organic fertilizers demand in Vietnam has been analyzed in terms of crop-based and non-crop-based.
Key Industry Players
The analysis of major Vietnam Organic Fertilizers companies in the industry takes into account the strategy adopted, financial revenues, and the latest developments in the market.
Some of the leading players in Vietnam organic fertilizers market include:
Baconco Vietnam Binh Dien Fertilizer Joint Stock Company Bioway-Organic 5c Shanghai Megchem Company Ltd Can Tho Fertilizer & Chemical JSC ANH Viet Co. Ltd. Key Deliverables in the Study
Market analysis for the Vietnam organic 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 organic 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.