Application-based network segmentation in a virtualized computing environment

Example methods are provided for host to implement application-based network segmentation in a virtualized computing environment. The method may comprise detecting an egress packet from a virtualized computing instance supported by the host for transmission to a destination and identifying a source application associated with the egress packet. The source application may be one of multiple applications supported by the virtualized computing instance, the multiple applications being associated with respective target networks. The method may further comprise, based on a network policy configured for the source application, determining a particular target network associated with the source application; and sending, to the destination, the egress packet via a physical network interface controller (NIC) associated with the particular target network.