Controlling the composition of ternary III-V and III-nitride nanomaterials such as vertical nanowires, horizontal nanowires, nanosheets, and nanomembranes grown by different epitaxy techniques is essential for band gap engineering and fabrication of nanoheterostructures with tunable properties. Herein, we investigate the diffusion-induced growth process of III-V ternary materials in different geometries including planar layers, nanomembranes, and horizontal and vertical nanowires grown by selective area epitaxy or with a catalyst droplet on top and derive a rather general equation connecting the composition of ternary solid with the composition of vapor. The form of this vapor-solid distribution remains identical for a wide range of geometries, while the coefficients entering the equation contain thermodynamic factors, kinetic constants of the material transport, and geometrical parameters of the growth template. General properties of the vapor-solid distribution are investigated with respect to material constants, growth condition, and geometry, including the interplay of thermodynamics and growth kinetics leading to the suppression of the miscibility gaps in InGaAs and InGaN systems. A good correlation of the model with the data on the compositions of InGaAs, InGaP, and AlGaAs materials grown by different methods is demonstrated. Overall, these results give a simple analytical tool for understanding the compositional trends and compositional tuning of III-V ternary nanostructures, which should work equally well for Si-Ge and II-VI material systems.