Vietnam Foodservice Market Size and Trends by Profit and Cost Sector Channels, Consumers, Locations, Key Players and Forecast to 2027
Vietnam Foodservice Market Report Overview
The Vietnam foodservice profit sector generated a revenue of VND1,011.2 trillion ($43.7 billion) in 2022 and is forecasted to record a CAGR of over 13% during 2022-2027. The resumption of international travel following the easing of COVID-19-related restrictions contributed significantly to the value growth. Takeaways and deliveries continued to play a crucial role in leading the value sales among foodservice businesses, especially in the quick-service restaurant (QSR) and full-service restaurant (FSR) channels. Value sales of dine-in services improved as tourism returned to full capacity.
The Vietnam foodservice market research report provides extensive insight and analysis of the market during the historical and forecast periods and acts as a vital point of reference for operators or suppliers. The report includes the overview of Vietnam’s macro-economic landscape, growth dynamics, customer segmentation, and overview of the market leaders.
Vietnam Foodservice Profit Sector Outlook 2022-2027, (VND trillion)
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Vietnam Foodservice Market Dynamics
Revival of the market and rise in dine -in services are the key trends in the foodservice market that will permeate almost all channels and are the most relevant explanations of consumer behaviour.
After having stayed away from foodservice outlets due to the COVID-19 restrictions, consumers will visit restaurants more frequently. This will be supported by the increase in tourism and consumers leaving their homes to socialize more often. Furthermore, as a result of increased tourism there will be significant growth in the value-sales of dine-in services and that will outperform takeaway and delivery services in the coming years.
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Vietnam Foodservice Market Segmentation by Profit Sector Channel
The key profit sector channels in the Vietnam foodservice market are FSR, QSR, Accommodation, Pub, Club & Bar, Leisure, Retail, Travel, Coffee & Tea Shop, Workplace, Ice Cream Parlor, and Mobile Operator. FSR was the largest channel in the profit sector in 2022. The channel’s popularity reflects a culture of socializing after long lockdowns and strong growth in tourism. Additionally, consumers who visit FSRs at least once a week are driven by superior taste/quality offerings, availability of a greater variety of dishes/cuisines, convenience, and unique/exciting flavors.
Vietnam Foodservice Market Analysis by Profit Sector Channel, 2022 (%)
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Vietnam Foodservice Market Segmentation by Outlet Type
The key outlet types in the Vietnam foodservice market are dine-in and take-away. Dine-in was the dominant service in the Vietnam food service market in the year 2022. Value sales of dine-in services improved as tourism returned to full capacity.
Vietnam Foodservice Market Analysis by Outlet Type, 2022 (%)
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Vietnam Foodservice Market Segmentation by Owner Type
The key owner types in the Vietnam foodservice market are independent operators and chain operators. The Vietnam foodservice profit sector was dominated by independent operators in 2022. The dominance of independent operators is projected to continue in QSR channel. Standalone establishments are the most popular among consumers, followed by shopping arcade locations.
Vietnam Foodservice Market Analysis by Owner Type, 2022 (%)
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Vietnam Foodservice Market Segmentation by Cost Sector Channel
The key cost sector channels in the Vietnam foodservice market are military & civil defense, healthcare, education, welfare & services, and complimentary services. Education was the largest cost sector in 20222 in terms of OBP value.
Vietnam Foodservice Market Analysis by Cost Sector Channel, 2022 (%)
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Vietnam Foodservice Market – Competitive Landscape
Some of the key foodservice companies in Vietnam are Five Star, Jollibee Foods, Lotteria, KFC, McDonald’s, Golden Gate, MTY Food Group, PIZZA 4PS, Pizza Hut, Yum! Brands, and Redsun ITI.
McDonald’s entered the Vietnamese market in February 2014. Since its launch, the company has focused on improving customer experience by self-checkout, automatic table service, and contactless payments. The chain is focused on expanding its footprint and growing its business in Vietnam. For instance, in March 2022, the chain opened a new outlet in the city of Nha Trang, located in the coastal region. The operator plans to launch one more location in AEON Mall, Phong Le Chan Area in April 2023.
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Vietnam Foodservice Market Overview
| Market Size (2022) | VND1,011.2 trillion ($43.7 billion) |
| CAGR (2022-2027) | >13% |
| Historic Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Key Profit Sector Channels | FSR, QSR, Pub, Club & Bar, Coffee & Tea Shop, Retail, Accommodation, Workplace, Leisure, Ice Cream Parlor, Travel, and Mobile Operator |
| Key Outlet Type | Dine-in and Take-away |
| Key Owner Type | Independent Operators and Chain Operators |
| Key Cost Sector Channels | Military & Civil Defense, Healthcare, Education, Welfare & Services, And Complimentary Services |
Key Segments Covered in the Report
Vietnam Foodservice Market Outlook by Profit Sector Channel (Value VND million, 2022-2027)
- Full-service Restaurants (FSR)
- Quick-service Restaurants (QSR)
- Pub, Club & Bar
- Coffee & Tea Shop
- Retail
- Accommodation
- Workplace
- Leisure
- Ice Cream Parlor
- Travel
- Mobile Operator
Vietnam Foodservice Market Outlook by Outlet-type (Value, VND million, 2022-2027)
- Dine-in
- Take-away
Vietnam Foodservice Market Outlook by Owner Type (Value, VND million, 2022-2027)
- Independent operators
- Chain operators
Vietnam Foodservice Market Outlook by Cost Sector Channels (Value, VND million, 2022-2027)
- Ministry & Civil Defense
- Healthcare
- Education
- Welfare & Services
- Complimentary Services
Scope
The report includes –
- Overview of Vietnam’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Vietnam’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
- Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, and Pub, Club & Bar) within Vietnam’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
- Customer segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Vietnam’s population.
- Key players: Overview of market leaders within the three major channels including business descriptions and number of outlets.
Reasons to Buy
- Specific forecasts of the foodservice market over the next five years (2022-2027) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea Shop, and Pub, Club & Bar) will allow readers understand the wants and needs of their target demographics.
Key Players
Table of Contents
Frequently Asked Questions
The foodservice market size in Vietnam was valued at VND1,011.2 trillion ($43.7 billion) in 2022.
The foodservice market in Vietnam will grow at a CAGR of over 13% during 2022-2027.
Full-service restaurant (FSR) is the leading profit sector channel in the Vietnam food service market in 2022.
Dine-in is the dominant outlet-type in the Vietnam foodservice market in 2022.
Independent operators are leading owner type in the Vietnam foodservice market in 2022.
Education sector had the highest share in the Vietnam foodservice market in 2022.
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