Market Size of vietnam biofertilizer Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Base Year For Estimation | 2022 |
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CAGR | 9.41 % |
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Largest Share by Form | Mycorrhiza |
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Fastest Growing by Form | Rhizobium |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Vietnam Biofertilizer Market Analysis
The Vietnam Biofertilizer Market is projected to register a CAGR of 9.41%
- Mycorrhiza is the Largest Form : The mycorrhizal association helps boost phosphorus, other nutrients, and water absorption from the soil, supporting plant growth and development and increase yield upto 50%.
- Rhizobium is the Fastest-growing Form : The application of rhizobium-based biofertilizers is recommended in leguminous crops like for crops. In these crops, rhizobium biofertilizer can increase the yield upto 35%.
- Horticultural Crops is the Largest Crop Type : The domination of the horticultural crops is mainly due to their large organic cultivation area, which account for about 59.4% of the total organic crop area in 2021.
- Cash Crops is the Fastest-growing Crop Type : The major cash crop grown in the country includes Coffee, tea, rubber and spices crops. Mycorrhiza-based biofertilizers are mostly consumed biofertilizers in cash crops.
