Vietnam Mycorrhizal Biofertilizer Market Outlook to 2030

Vietnam Mycorrhizal Biofertilizer Market Overview

• The Vietnam mycorrhizal biofertilizer market growth is reflecting the Global mycorrhizal biofertilizer market which was valued at USD 650 million in 2023. This growth is primarily driven by the increasing awareness among farmers regarding sustainable agricultural practices and the benefits of biofertilizers in enhancing soil fertility and crop yield. The push towards organic farming and the demand for chemical-free produce have also fueled the market.
• Key players in the Vietnam mycorrhizal biofertilizer market include AgriLife, Lallemand Inc., Symborg, MycoGold, and Valent BioSciences. These companies have established a strong presence through their extensive product portfolios and focus on sustainable agricultural solutions.
• In 2023, AgriLife announced the launch of a new mycorrhizal biofertilizer product tailored for the Vietnamese market. This product is expected to increase crop yields by 15% compared to traditional biofertilizers, as per AgriLife's field trials conducted in Mekong Delta. This development aligns with the growing trend of enhancing agricultural productivity through advanced biotechnological interventions.
• The Mekong Delta region dominates the mycorrhizal biofertilizer market in Vietnam, due to the region's extensive agricultural activities, particularly in rice and fruit cultivation, which benefit significantly from the use of biofertilizers to enhance soil health and crop productivity.

Vietnam Mycorrhizal Biofertilizer Market Segmentation

The Vietnam mycorrhizal biofertilizer market can be segmented in various factors like product, application and region.

By Product: The Vietnam mycorrhizal biofertilizer market is segmented by product type into endomycorrhizal, ectomycorrhizal, and arbuscular mycorrhizal biofertilizers. In 2023, Endomycorrhizal Biofertilizers dominate the market with due to their efficiency in nutrient absorption and compatibility with a wide range of crops.

By Application: The Vietnam mycorrhizal biofertilizer market is segmented by application into agriculture, horticulture, and forestry. In 2023, agriculture dominate the market with the use of biofertilizers in agriculture is driven by the need to improve crop yields and soil health.

By Region: The Vietnam mycorrhizal biofertilizer market is segmented by region into north, east, west and south. In 2023, the South region leading primarily due to the agricultural productivity of the Mekong Delta.

Vietnam Mycorrhizal Biofertilizer Competitive Landscape

• Symborg: In 2021, Symborg opened a new hydrolysis plant in Spain, an investment of USD 28.0 million. The plant is designed for the manufacturing of sustainable products for agriculture, such as biofertilizer (mycorrhiza-based) solutions that are imported to the US market.
• Valent BioSciences: Valent BioSciences introduced the Symvado Mycorrhizal Inoculant in 2023, featuring MycoApply Arbuscular Mycorrhizal Fungi technology. This product enhances nutrient uptake by up to 50 times and water acquisition by extending hyphae 10 inches beyond roots, significantly improving crop productivity and soil health.

Vietnam Mycorrhizal Biofertilizer Market Analysis

Vietnam Mycorrhizal Biofertilizer Market Growth Drivers

• Government Support for Organic Farming: In 2023, Vietnam's organic farming sector saw substantial growth, with organic agricultural land expanding by 20% from the previous year, now covering 250,000 hectares. The government aims to have 25% of organic fertilizers in the market by 2025, enhancing sustainable agricultural practices and driving the biofertilizer market​.
• Rising Demand for High-Quality Produce: In 2024, the demand for high-quality, chemical-free produce surged, with consumers willing to pay a premium for organically grown fruits and vegetables. This trend has encouraged farmers to use mycorrhizal biofertilizers, which enhance crop quality and yield, meeting the growing market demand for healthier food options.
• Expanding Export Market: Vietnam's agricultural exports reached USD 5.14 billion in 2024, with a significant portion attributed to high-quality produce cultivated using biofertilizers. The export market's growth is driving the adoption of mycorrhizal biofertilizers as farmers seek to improve crop quality and meet international standards.

Vietnam Mycorrhizal Biofertilizer Market Challenges

• Lack of Farmer Awareness: Despite government efforts, many Vietnamese farmers remain unaware of the benefits of mycorrhizal biofertilizers. In 2024, a survey by the Ministry of Agriculture and Rural Development revealed that over 40% of farmers still preferred conventional chemical fertilizers due to lack of knowledge and familiarity with biofertilizers.
• Inconsistent Product Quality: In 2024, Vietnamese government report indicated that some biofertilizer products available in the Vietnamese market did not meet quality standards, resulting in inconsistent crop performance. This issue has led to skepticism among farmers regarding the reliability of mycorrhizal biofertilizers, hindering wider adoption.

Vietnam Mycorrhizal Biofertilizer Government Initiative

• Training and Workshops: In 2024, the Ministry of Agriculture and Rural Development organized over 1,000 training sessions and workshops across Vietnam to educate farmers on the benefits and application of mycorrhizal biofertilizers. These efforts aim to increase awareness and knowledge among farmers, promoting widespread adoption.
• Organic Farming Program: In 2023, the Vietnamese government introduced a comprehensive program to promote organic farming, aiming for 5 million hectares of organic agricultural land by 2030. This initiative includes financial support, technical training, and certification assistance for farmers to adopt organic and biofertilizer practices, enhancing sustainable agriculture in Vietnam.

Vietnam Mycorrhizal Biofertilizer Market Future Outlook

The Vietnam mycorrhizal biofertilizers market is growing over the next five years, driven by increasing expansion of distribution networks, technological advancements in biofertilizers, increasing sustainable farming, and agriculture exports.

Vietnam Mycorrhizal Biofertilizer Future Market Trends

• Expansion of Distribution Channel: The distribution networks for mycorrhizal biofertilizers in Vietnam will expand, improving access to these products in rural and remote areas. Enhanced logistics and supply chain infrastructure will ensure that farmers across the country can obtain and use biofertilizers effectively.
• Technological Advancements in Biofertilizers: Innovations in biotechnology will result in products that offer higher nutrient absorption rates and better compatibility with various crops, further driving market growth.