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Organic Fertilizers Market – Vietnam Industry Analysis, Trends and Forecasts (2017 - 2022)

The Vietnam organic fertilizers market valued at USD 930.54 million in 2017 is expected to reach USD 1,567 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. 

organic fertilizer

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.

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Source: Mordor Intelligence