Vietnam Organic Fertilizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Vietnam Organic Fertilizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Vietnamese organic fertilizer market was valued at USD 2.19 million in 2019, and it is expected to register a CAGR of 6.7% during the forecast period (2020-2025). In 2018, farm yard manure was the largest segment among product types of the market studied, and it accounted for a share of around 69.2% of the market.

According to the Ministry of Agriculture and Rural Development of Vietnam, the import of plant protection chemicals increased tremendously, from 20,000 metric ton in 2005 to 50,000 metric ton in 2014. The number of fertilizers used increased by 500% since 1985, which illustrates the increasing popularity of agricultural chemicals. Since 2005, the concerns about food safety increased. Thus, large local companies, like VinGroup’s Vineco, are making investments (the latest being an injection of USD 44 million in 2015) in hygienic fresh vegetable production, to ensure that its VinMarts, which are small supermarkets, are stocked with safe local produce. The increasing importance for food safety and quality will continue to drive higher demand for organic fertilizers, particularly farmyard manure, in Vietnam, over the forecast period.

Key Market TrendsDecreasing Arable Land

Vietnam adopted a Revised Land Law, which became effective on July 1, 2014. This law gave farmers 50-year use rights to their agricultural land, including their basic annual-cropland. The revised law also included significant improvements on issues, like compensation and procedures for land takings, and other important areas. The arable land in the country declined by 2% over the period of 2015-2018. Thus, the decreasing area of arable land, coupled with the government’s introduction of integrated pest management (IPM) program, is expected to drive the organic fertilizers market. This is further fueled with high returns from the market and increased regulations on chemical residues.

Farm Yard Manure Expected to Rule the Vietnamese Organic Fertilizers Market

An increase in the number of livestock, especially pigs, dairy cows, and chicken, is expected to back up the farmyard manure (FYM) industry in Vietnam during the forecast period, though the nutrient content and acceptability among the consumers may vary for the various animal species. According to national statistics, up to September 2015, the national herd was estimated to includee 26.5 million pigs, 7.7 million cattle, and 304.5 million poultries. Annually, livestock production leads to more than 85 million metric ton of manure, tens of billions of cubic meter liquid waste, and several hundred million ton of exhausted gas. Thus, due to the increasing livestock farming in the country, there is rising adoption of farmyard manure. This trend is likely to accelerate over the forecast period.

Competitive Landscape

The organic fertilizer market in Vietnam is a combination of the unorganized and organized sector. The top five players account for 27%-32% of the share of the market, while the other organic fertilizer companies and the unorganized sector together constitute most of the market share, based on the overall Vietnam organic market revenue in 2019.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Global Fertilizer Investment Corporation
Binh Dien Fertilizer Joint Stock Company
Bioway Hitech Joint Stock Company
Baconco Vietnam
Ha Lan Fertilizer Corporation
Que Lam Group
Long Viet
VALVA Co. Ltd
Gold Tech
Sinh Dien Thien Sinh JSC
Can Tho Fertilizer & Chemical JSC
Song Gianh Fertilizer Company
Vietagro

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.