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Vietnam Biofertilizer Market Size

The Vietnam biofertilizer market is projected to experience significant growth over the forecast period, driven by an increasing demand for organic products and government initiatives promoting sustainable cultivation practices. Despite the historical limitations in market expansion due to a modest rise in organic cultivation areas, the market's value is expected to rise substantially. Mycorrhiza-based biofertilizers currently lead the market due to their effectiveness in enhancing nutrient and water absorption, although Rhizobium-based biofertilizers are anticipated to grow at a faster rate. The horticultural sector, particularly fruit and vegetable crops, dominates biofertilizer consumption, reflecting the extensive cultivation of these crops in the country.

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Market Size of vietnam biofertilizer Industry

Vietnam Biofertilizer Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 256.98 Thousand
svg icon Market Size (2029) USD 404.46 Thousand
svg icon Largest Share by Form Mycorrhiza
svg icon CAGR (2024 - 2029) 9.50 %
svg icon Fastest Growing by Form Rhizobium
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Vietnam Biofertilizer Market Analysis

The Vietnam Biofertilizer Market size is estimated at 256.98 thousand USD in 2024, and is expected to reach 404.46 thousand USD by 2029, growing at a CAGR of 9.50% during the forecast period (2024-2029).

256.98 Thousand

Market Size in 2024 (USD)

404.46 Thousand

Market Size in 2029 (USD)

2.60 %

CAGR (2017-2023)

9.50 %

CAGR (2024-2029)

Largest by Form

66.38 %

value share, Mycorrhiza, 2023

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The mycorrhizal association helps boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increase yield upto 50%.

Fastest by Form

11.59 %

Projected CAGR, Rhizobium, 2024-2029

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The application of rhizobium-based biofertilizers is recommended in leguminous crops like for crops. In these crops, rhizobium biofertilizer can increase the yield upto 35%.

Largest by Crop Type

56.82 %

value share, Horticultural Crops, 2023

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The domination of the horticultural crops is mainly due to their large organic cultivation area, which account for about 59.4% of the total organic crop area in 2021.

Fastest by Crop Type

9.80 %

Projected CAGR, Cash Crops, 2024-2029

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The major cash crop grown in the country includes Coffee, tea, rubber and spices crops. Mycorrhiza-based biofertilizers are mostly consumed biofertilizers in cash crops.

Leading Market Player

29.82 %

market share, DAI THANH JOINT STOCK COMPANY, 2022

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The Dai Thanh Joint Stock Company has developed its products in liquid and water-soluble forms making them suitable for the foliar spraying method and for crop types.

  • The biofertilizer market in the country grew by 2.1% during the historical period (2017-2021). The limited growth of the biofertilizer market in the country is mainly attributed to the limited increase in overall organic cultivation area, which increased by 3.2 thousand hectares between 2017 and 2021. However, the market value of biofertilizers is anticipated to increase by about 71.6% by the end of the forecast period.
  • The consumption of mycorrhiza-based biofertilizers is dominant in the country, accounting for about USD 143.7 thousand in 2022. The dominance of these biofertilizers is because the mycorrhizal association has the potential to boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increasing yield by about 30-50%. Even though mycorrhiza dominates the market, Rhizobium-based biofertilizers are anticipated to increase faster than other biofertilizers during the forecast period.
  • The consumption of biofertilizers is dominant in fruit and vegetable crops, accounting for about USD 133.9 thousand in 2022. The domination of horticultural crops is mainly due to their large cultivation area in the country, i.e., about 59.4% of the total organic crop area in 2021.
  • There is a huge demand for organic products in domestic and international markets. The overuse of chemical fertilizers is one of the major challenges in the country. The Vietnamese government authorities are promoting sustainable or organic cultivation practices through various schemes or programs by providing incentives for biofertilizers, which may drive the market during the forecast period.
Vietnam Biofertilizer Market

Vietnam Biofertilizer Industry Segmentation

Azospirillum, Azotobacter, Mycorrhiza, Phosphate Solubilizing Bacteria, Rhizobium are covered as segments by Form. Cash Crops, Horticultural Crops, Row Crops are covered as segments by Crop Type.

  • The biofertilizer market in the country grew by 2.1% during the historical period (2017-2021). The limited growth of the biofertilizer market in the country is mainly attributed to the limited increase in overall organic cultivation area, which increased by 3.2 thousand hectares between 2017 and 2021. However, the market value of biofertilizers is anticipated to increase by about 71.6% by the end of the forecast period.
  • The consumption of mycorrhiza-based biofertilizers is dominant in the country, accounting for about USD 143.7 thousand in 2022. The dominance of these biofertilizers is because the mycorrhizal association has the potential to boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increasing yield by about 30-50%. Even though mycorrhiza dominates the market, Rhizobium-based biofertilizers are anticipated to increase faster than other biofertilizers during the forecast period.
  • The consumption of biofertilizers is dominant in fruit and vegetable crops, accounting for about USD 133.9 thousand in 2022. The domination of horticultural crops is mainly due to their large cultivation area in the country, i.e., about 59.4% of the total organic crop area in 2021.
  • There is a huge demand for organic products in domestic and international markets. The overuse of chemical fertilizers is one of the major challenges in the country. The Vietnamese government authorities are promoting sustainable or organic cultivation practices through various schemes or programs by providing incentives for biofertilizers, which may drive the market during the forecast period.
Form
Azospirillum
Azotobacter
Mycorrhiza
Phosphate Solubilizing Bacteria
Rhizobium
Other Biofertilizers
Crop Type
Cash Crops
Horticultural Crops
Row Crops
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Vietnam Biofertilizer Market Size Summary

The Vietnam biofertilizer market is poised for significant growth, driven by increasing demand for organic products both domestically and internationally. The market is experiencing a shift towards sustainable agricultural practices, with government initiatives promoting organic cultivation and providing incentives for biofertilizer use. This shift is partly due to the overuse of chemical fertilizers, which has raised concerns about food safety and quality among Vietnamese consumers. The market is characterized by a strong presence of mycorrhiza-based biofertilizers, which enhance nutrient and water absorption, thereby boosting crop yields. However, there is a growing interest in Rhizobium-based biofertilizers, which are expected to see faster growth during the forecast period. The consumption of biofertilizers is predominantly in the fruit and vegetable sectors, reflecting the large organic cultivation area dedicated to these crops.

Vietnam's organic agriculture sector is expanding, supported by national policies and programs aimed at increasing the organic land area. The country is targeting a significant increase in organic farming, with a focus on exporting organic products to meet global demand, particularly in the United States and the European Union. The biofertilizer market is fairly consolidated, with major players like Atlántica Agrícola and BIOWAY ORGANIC HIGH TECH JOINT STOCK COMPANY leading the industry. Recent developments, such as the inauguration of a bio-organic fertilizer plant and the adoption of advanced fermentation technologies, are enhancing production capabilities and market presence. As consumer awareness and demand for organic products rise, the biofertilizer market in Vietnam is expected to experience robust growth, driven by the need for organic protection and nutrition products to ensure high-quality produce.

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Vietnam Biofertilizer Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Form

      1. 1.1.1 Azospirillum

      2. 1.1.2 Azotobacter

      3. 1.1.3 Mycorrhiza

      4. 1.1.4 Phosphate Solubilizing Bacteria

      5. 1.1.5 Rhizobium

      6. 1.1.6 Other Biofertilizers

    2. 1.2 Crop Type

      1. 1.2.1 Cash Crops

      2. 1.2.2 Horticultural Crops

      3. 1.2.3 Row Crops

Vietnam Biofertilizer Market Size FAQs

The Vietnam Biofertilizer Market size is expected to reach USD 256.98 thousand in 2024 and grow at a CAGR of 9.50% to reach USD 404.46 thousand by 2029.

In 2024, the Vietnam Biofertilizer Market size is expected to reach USD 256.98 thousand.

Vietnam Biofertilizer Market Report Snapshots

Vietnam Biofertilizer Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029