Forecast: Fertilizer Consumption in Viet Nam

In 2024, the fertilizer consumption in Vietnam is forecasted to be 163.11 units. There is a projected year-on-year decrease, with consumption expected to drop to 158.04 units in 2025 (-3.10%), 153.03 units in 2026 (-3.17%), 148.06 units in 2027 (-3.25%), and 143.14 units in 2028 (-3.32%). Over the last two years, the observed trend is a consistent decline in consumption.

The average compound annual growth rate (CAGR) over the next five years, from 2024 to 2028, shows an average annual decrease of around 3.21% in fertilizer consumption, indicating a steady downward trend.

Future trends to watch for include advancements in sustainable agriculture practices, shifts in government policies towards fertilizer use, and changes in crop patterns that could influence the overall demand for fertilizers. Environmental concerns and the adoption of organic farming methods may also further reduce dependency on chemical fertilizers.