Vietnam Specialty Fertilizer Market Report and Forecast 2025-2034

The Vietnam specialty fertilizer market reached approximately USD 156.40 Million in 2024. The market is projected to grow at a CAGR of 3.90% between 2025 and 2034, reaching a value of around USD 229.29 Million by 2034.

Vietnam Specialty Fertilizer Market Growth

Vietnam has seen a significant surge in its plant-based agriculture sector, solidifying its position as a major player in the global agricultural sector. The year 2022 marked a milestone for Vietnam's agricultural sector, with a remarkable growth rate of 3.36%. Farming, fisheries, and forestry experienced growth rates of 2.88%, 4.43%, and 6.13%, respectively. The sector's export turnover exceeded US$53.22 billion. The growth of Vietnam's agricultural sector, attributed to the crucial role of Overseas Direct Assistance (ODA) and the unwavering support from the Ministry of Agriculture and Rural Development (MARD), is expected to drive the demand for specialty fertilizers.

Vietnam is targeting to incorporate organic fertilizers in 50% of the total cultivation area nationwide by 2050. Additionally, the Vietnamese government aims to have a minimum of 80% of centrally-run cities and provinces establish organic fertilizer farming models within value chains for both major and specialty products. These objectives are outlined in a project approved by the Ministry of Agriculture and Rural Development (MARD) that focuses on promoting the production and utilisation of organic fertilizers until 2030, with a long-term vision extending to 2050.

The Vietnam market for specialty fertilizer is set to experience substantial growth, fuelled by agricultural modernisation, stringent government regulations, and technological progress. With the growing need for sustainable farming methods and high-value crops, the use of specialty fertilizers is projected to increase in the forecast period.

Vietnam Specialty Fertilizer Industry Segmentation

“Vietnam Specialty Fertilizer Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Urea-Ammonium Nitrate
• Calcium Ammonium Nitrate
• Monoammonium Phosphate
• Sulphate of Potash
• Potassium Nitrate
• Urea Derivatives
• Blends of NPK
• Others

Market Breakup by Technology

• Controlled-Release Fertilizers
• Water-Soluble Fertilizers
• Liquid Fertilizers
• Micronutrients
• Others

Market Breakup by Crop Type

• Field Crops
• Horticultural Crops
• Turf and Ornamentals

Market Breakup by Application Mode

• Fertigation
• Foliar
• Soil

Market Breakup by Region

• Southeast
• Red River Delta
• Mekong River Delta
• South Central Coast
• Others

Vietnam Specialty Fertilizer Market Share

Based on crop type, the market is segmented into field crops, horticultural crops, and turf and ornamentals. Horticulture crops are projected to grow at a CAGR of 4.4% between 2025 and 2034. In horticulture, fertilizers are vital because they supply the necessary nutrients for healthy plant growth, increased yields, and better-looking fruits, vegetables, and ornamental plants. Horticultural crops' productivity and health can be greatly impacted by the proper application of specialty fertilizers.

Leading Companies in the Vietnam Specialty Fertilizer Market

The market players are focusing on the production of organic and non-toxic specialty fertilizers to gain a competitive edge.

• Baconco
• Yara International ASA
• ICL Group Ltd.
• Haifa Negev technologies Ltd.
• Grupa Azoty S.A.
• Hebei Sanyuanjiuqi Fertilizer Co., Ltd.
• Others

Vietnam Specialty Fertilizer Market Report Snapshots

Vietnam Specialty Fertilizer Market Size

Vietnam Specialty Fertilizer Market Growth

Vietnam Specialty Fertilizer Market Share

Vietnam Specialty Fertilizer Companies