A ferroelectric tunnel junction (FTJ) includes bottom and top electrodes and a ferroelectric layer disposed between the bottom and top electrodes. A dielectric material is disposed in a space between a peripheral area of the ferroelectric layer and a sidewall of the top electrode. At least one conformal dielectric spacer is deposited. The FTJ is annealed to induce ferroelectric phase crystallization in the ferroelectric layer. The depositing at least one conformal dielectric spacer includes at least one of: (i) prior to the disposing of the dielectric material, depositing an inner conformal dielectric spacer on the peripheral area of the ferroelectric layer and on the sidewall of the top electrode, and/or (ii) after the disposing of the dielectric material, depositing an outer conformal dielectric spacer on dielectric material and on a sidewall of the peripheral area of the ferroelectric layer.