Vietnam Specialty Fertilizer Market to Grow at 5.04% During 2024-2032, Propelled by Rising Focus on Sustainable Agriculture Practices

December 14, 2023 | Agriculture

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According to the latest report by IMARC Group, titled “Vietnam Specialty Fertilizer Market Report by Specialty Type (CRF, Liquid Fertilizer, SRF, Water Soluble), Crop Type (Field Crops, Horticultural Crops, Turf and Ornamental), Application (Fertigation, Foliar, Soil), and Region 2024-2032,” finds that the Vietnam specialty fertilizer market is expected to exhibit a CAGR of 5.04% during the forecast period (2024-2032). Specialty fertilizer is formulated to provide targeted nutrients and additives to plants and can be customized to meet their unique nutritional requirements at various stages of growth and under specific environmental conditions. It is tailored to address the unique requirements of different crops, soil conditions, and environmental factors. It offers a strategic approach to nutrient management and allows farmers to maximize crop yields while minimizing waste and environmental impact. It can address soil deficiencies by providing specific nutrients that are lacking in the soil. As it is beneficial in enhancing the quality of harvested crops, the demand for specialty fertilizer is increasing in Vietnam.

Vietnam Specialty Fertilizer Market Trends:

At present, the rising utilization of specialty fertilizers with controlled-release technologies represents one of the primary factors impelling the growth of the market in Vietnam. In line with this, the growing demand for specialty fertilizers on account of increasing food concerns among the masses is offering a positive market outlook in the country. In addition, the rising adoption of specialty fertilizers to address issues, such as soil degradation and nutrient depletion, is supporting the market growth. Apart from this, there is an increase in the need for specialty fertilizers to enhance crop yields. This, coupled with the increasing focus on precision farming techniques, including global positioning system (GPS)-guided nutrient application, is strengthening the market growth in Vietnam. Moreover, the escalating demand for resilient crops due to changing weather patterns, along with the rising focus on sustainable agriculture practices, is propelling the market growth. Furthermore, the increasing awareness among farmers about the benefits of specialty fertilizers in optimizing yields and reducing input costs is contributing to the market growth in Vietnam.

Market Summary:

Based on the specialty type, the market has been classified into CRF (polymer coated, polymer-sulfur coated, and others), liquid fertilizer, SRF, and water soluble.
On the basis of the crop type, the market has been segregated into field crops, horticultural crops, and turf and ornamental.
Based on the application, the market has been divided into fertigation, foliar, and soil.
Region-wise, the market has been segmented into Northern, Central, and Southern Vietnam.
The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major 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 Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Specialty Type Crop Type Application Region
Specialty Types Covered	CRF: Polymer Coated, Polymer-Sulfur Coated, Others Liquid Fertilizer SRF Water Soluble
Crop Types Covered	Field Crops, Horticultural Crops, Turf and Ornamental
Applications Covered	Fertigation, Foliar, Soil
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)

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Vietnam Specialty Fertilizer Market to Grow at 5.04% During 2024-2032, Propelled by Rising Focus on Sustainable Agriculture Practices

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