Vietnam Fertilizer Industry Size
The agricultural sector's focus on enhancing productivity and the potential for organic fertilizers, the Vietnam fertilizer market is set for significant growth WILMINGTON, DE, UNITED STATES, October 4, 2024 /EINPresswire.com/ -- The Vietnam fertilizer market is poised for growth, driven primarily by an increasing focus on agricultural productivity. In 2019, the market was valued at $4.5 billion and is projected to reach $5.7 billion by 2027, reflecting a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027, according to a report by Allied Market Research.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.alliedmarketresearch.com/request-sample/7092
Market Dynamics:
Regional Insights: Southern Vietnam emerged as the dominant region in 2019, accounting for over half of the market share and is expected to maintain this position throughout the forecast period. Meanwhile, Central Vietnam is anticipated to exhibit the highest CAGR of 4.2% from 2020 to 2027.
Segment Analysis:
- Type: The inorganic fertilizer segment represented over 80% of the market in 2019 and is expected to remain the largest segment. However, the organic fertilizer segment is projected to grow at the highest rate, with a CAGR of 6.9%.
- Form: The dry fertilizer segment held a significant share in 2019, making up more than 80% of the market. The liquid segment is expected to show substantial growth, with a CAGR of 4.4% from 2020 to 2027.
- Challenges: Despite growth prospects, frequent climate changes pose challenges to farming activities, potentially restraining market expansion.
Opportunities for Growth
The rising demand for organic fertilizers presents new growth opportunities for market players. Key companies in the industry include Baconco, Agricultural Products and Materials Joint Stock Company, DUC Giang Chemicals Group, and Yara Vietnam, among others.
Conclusion
With the agricultural sector's focus on enhancing productivity and the potential for organic fertilizers, the Vietnam fertilizer market is set for significant growth, despite facing challenges from climatic changes. The marketโs dynamics indicate a shift towards sustainable practices, making it an opportune time for stakeholders to invest and innovate.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/vietnam-fertilizer-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David CorreaAllied Market Research+1 800-792-5285email us hereVisit us on social media:FacebookX
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October 03, 2024, 18:33 GMT
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