Vietnam Biofertilizer Market to Grow at 8.74% During 2024-2032, Propelled by Increasing Demand for Organic Products

December 14, 2023 | Agriculture

According to the latest report by IMARC Group, titled “Vietnam Biofertilizer Market Report by Form (Azospirillum, Azotobacter, Mycorrhiza, Phosphate Solubilizing Bacteria, Rhizobium, and Others), Crop Type (Cash Crops, Horticultural Crops, Raw Crops), and Region 2024-2032,” finds that the Vietnam biofertilizer market is anticipated to exhibit a CAGR of 8.74% during the forecast period (2024-2032). Biofertilizer is a natural and eco-friendly alternative to chemical fertilizers used in agriculture. It generally consists of living microorganisms, such as bacteria, fungi, and algae, that enhance soil fertility and plant growth by fixing atmospheric nitrogen, solubilizing nutrients, and promoting nutrient uptake by plants. Biofertilizers contribute to sustainable agriculture practices by improving soil health, enhancing crop yields, and reducing the environmental impact of farming. They also help reduce the dependence on synthetic fertilizers, which can have harmful effects on the environment and human health when overused. At present, biofertilizers find extensive applications in organic farming and integrated nutrient management systems across the globe, offering a more sustainable and environmentally friendly approach to enhancing soil fertility and crop productivity.

Vietnam Biofertilizer Market Trends:

The heightening awareness of sustainable agricultural practices and the desire to reduce the environmental impact of farming, leading to a greater demand for biofertilizers, represents the primary factor driving market growth. Apart from this, several favorable government initiatives and incentives promoting organic and eco-friendly farming methods across the country have catalyzed market growth. Additionally, the rising need to improve soil health, enhance crop yields, and reduce the use of chemical fertilizers has accelerated the adoption of biofertilizers by Vietnamese farmers, thereby fostering market growth. Besides this, the expanding agricultural sector and the escalating demand for high-quality, pesticide-free produce are other major growth-inducing factors. Moreover, ongoing technological advancements and research in biofertilizer formulations and production methods are propelling market growth. Furthermore, the increasing collaborations between government agencies, agricultural institutions, and biofertilizer manufacturers are contributing to market growth. Other factors, including rising government support for research and development (R&D) in the biofertilizer sector, escalating concerns about soil degradation and depletion of essential nutrients, and growing demand for organic and chemical-free agricultural products in both domestic and international markets, are also anticipated to drive the market further.

Market Summary:

Based on the form, the market has been categorized into azospirillum, azotobacter, mycorrhiza, phosphate solubilizing bacteria, rhizobium, and others.
On the basis of the crop type, the market has been segregated into cash crops, horticultural crops, and raw crops.
Region-wise, the market has been divided into Northern Vietnam, Central Vietnam, and Southern Vietnam.
The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Form Crop Type Region
Forms Covered	Azospirillum, Azotobacter, Mycorrhiza, Phosphate Solubilizing Bacteria, Rhizobium, Others
Crop Types Covered	Cash Crops, Horticultural Crops, Raw Crops
Regions Covered	Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Vietnam Biofertilizer Market to Grow at 8.74% During 2024-2032, Propelled by Increasing Demand for Organic Products

Purchase options

Single User License ~~$3699~~ $2899
Five User License ~~$4699~~ $3899
Corporate User License ~~$5699~~ $4899

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.