Vietnam Food Services Market
Description
Vietnam Food Services Market, By Foodservice Type (Full Service Restaurants, Quick Service Restaurants (QSR), Cafes & Bars, Cloud Kitchens); By Outlet Type (Chain Outlets, Independent Outlets); By Location (Leisure, Lodging, Retail, Standalone, Travel), Trend Analysis, Competitive Landscape & Forecast, 2019–2031Vietnam Food Services Market Size Set to Reach USD 30.7 Billion by 2031
Vietnam Food Services Market is booming primarily due to rapid urbanization, rising incomes, changing tastes, growing tourism sector, expanding fast food segment, and the growing adoption of digital technologies and preference for online delivery by the tech savvy young professionals.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Food Services Market size by value at USD 22.56 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Food Services Market size to grow at a steady CAGR of 4.50%, reaching a value of USD 30.70 billion. The growth of Vietnam Food Services Market driven by rapid urbanization, rising disposable incomes, and a growing middle class seeking diverse dining options. The surge in tourism fuels demand for varied cuisines, while digital platforms and smartphone penetration boost online food delivery. Fast-paced lifestyles favor quick-service restaurants, and international brands expand aggressively. Changing consumer preferences, including health-conscious choices, also shape offerings. Government support, foreign investments, and improved infrastructure further accelerate growth across major cities like Hanoi and Ho Chi Minh City.
Opportunity – Growth in Tourism and Hospitality Industry
The booming tourism and hospitality sector is a major catalyst for the growth of Vietnam Food Services Market. With over 12 million international visitors and thriving domestic travel, demand for diverse dining experiences has surged. The rise of hotels, resorts, and entertainment venues fuels restaurant expansion, especially in tourist hotspots like Hanoi and Ho Chi Minh City. Government initiatives, improved infrastructure, and global marketing campaigns have positioned Vietnam as a top destination, directly boosting food service consumption across all segments.
Independent Outlets Lead Vietnam Food Services Market
Independent outlets are the largest segment in Vietnam Food Services Market. Their market dominance stems from Vietnamese consumers’ strong preference for traditional and locally owned dining establishments, which offer authentic flavors and personalized service. These outlets range from street food vendors and family-run eateries to regional restaurants that reflect Vietnam’s rich culinary heritage. Their widespread presence across urban and rural areas makes them a cornerstone of the country’s vibrant food culture.
Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market
Intensifying geopolitical tensions, particularly United States’ increasing tariffs on Vietnamese exports and global trade disruptions, pose indirect risks to Vietnam Food Services Market. Increased import costs and supply chain instability can affect ingredient availability and pricing. Investor caution may slow the expansion of international food chains. However, Vietnam’s strategic location and growing domestic demand offer resilience. The country’s appeal as a manufacturing hub may attract supply chain shifts, encouraging local sourcing and innovation within the food services sector.
Competitive Landscape
Vietnam Food Services Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are Starbucks Vietnam, KFC Vietnam, Lotteria Vietnam, Pizza Hut Vietnam, Highlands Coffee, The Coffee House, Jollibee Vietnam, McDonald's Vietnam, Golden Gate Group, CGV Cinemas (Food Services Division), and GrabFood Vietnam. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Food Services Market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Food Services Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Food Services Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Vietnam Food Services Market is booming primarily due to rapid urbanization, rising incomes, changing tastes, growing tourism sector, expanding fast food segment, and the growing adoption of digital technologies and preference for online delivery by the tech savvy young professionals.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Food Services Market size by value at USD 22.56 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Food Services Market size to grow at a steady CAGR of 4.50%, reaching a value of USD 30.70 billion. The growth of Vietnam Food Services Market driven by rapid urbanization, rising disposable incomes, and a growing middle class seeking diverse dining options. The surge in tourism fuels demand for varied cuisines, while digital platforms and smartphone penetration boost online food delivery. Fast-paced lifestyles favor quick-service restaurants, and international brands expand aggressively. Changing consumer preferences, including health-conscious choices, also shape offerings. Government support, foreign investments, and improved infrastructure further accelerate growth across major cities like Hanoi and Ho Chi Minh City.
Opportunity – Growth in Tourism and Hospitality Industry
The booming tourism and hospitality sector is a major catalyst for the growth of Vietnam Food Services Market. With over 12 million international visitors and thriving domestic travel, demand for diverse dining experiences has surged. The rise of hotels, resorts, and entertainment venues fuels restaurant expansion, especially in tourist hotspots like Hanoi and Ho Chi Minh City. Government initiatives, improved infrastructure, and global marketing campaigns have positioned Vietnam as a top destination, directly boosting food service consumption across all segments.
Independent Outlets Lead Vietnam Food Services Market
Independent outlets are the largest segment in Vietnam Food Services Market. Their market dominance stems from Vietnamese consumers’ strong preference for traditional and locally owned dining establishments, which offer authentic flavors and personalized service. These outlets range from street food vendors and family-run eateries to regional restaurants that reflect Vietnam’s rich culinary heritage. Their widespread presence across urban and rural areas makes them a cornerstone of the country’s vibrant food culture.
Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market
Intensifying geopolitical tensions, particularly United States’ increasing tariffs on Vietnamese exports and global trade disruptions, pose indirect risks to Vietnam Food Services Market. Increased import costs and supply chain instability can affect ingredient availability and pricing. Investor caution may slow the expansion of international food chains. However, Vietnam’s strategic location and growing domestic demand offer resilience. The country’s appeal as a manufacturing hub may attract supply chain shifts, encouraging local sourcing and innovation within the food services sector.
Competitive Landscape
Vietnam Food Services Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are Starbucks Vietnam, KFC Vietnam, Lotteria Vietnam, Pizza Hut Vietnam, Highlands Coffee, The Coffee House, Jollibee Vietnam, McDonald's Vietnam, Golden Gate Group, CGV Cinemas (Food Services Division), and GrabFood Vietnam. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Food Services Market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Food Services Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Food Services Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
137 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Vietnam Food Services Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising Disposable Incomes and Urbanization
- 3.2.1.2. Expansion of Online Food Delivery Platforms
- 3.2.1.3. Increasing Number of Fast-Food Chains
- 3.2.2. Restraints
- 3.2.2.1. Stringent Food Safety Regulations
- 3.2.2.2. High Operational Costs for Small Vendors
- 3.2.2.3. Limited Skilled Workforce in Hospitality Sector
- 3.2.3. Opportunities
- 3.2.3.1. Growth in Tourism and Hospitality Industry
- 3.2.3.2. Demand for Health-Conscious and Fusion Cuisine
- 3.2.4. Challenges
- 3.2.4.1. Changing Consumer Preferences Toward Healthy Eating
- 3.2.4.2. Intense Market Competition Among Domestic and Global Brands
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Vietnam Food Services Market: Marketing Strategies
- 5. Vietnam Food Services Market: Pricing Analysis
- 6. Vietnam Food Services Market Overview
- 6.1. Market Size & Forecast, 2019–2031
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Foodservice Type
- 6.2.1.1. Full-Service Restaurants
- 6.2.1.2. Quick Service Restaurants (QSR)
- 6.2.1.3. Cafes & Bars
- 6.2.1.4. Cloud Kitchens
- 6.2.2. By Outlet Type
- 6.2.2.1. Chain Outlets
- 6.2.2.2. Independent Outlets
- 6.2.3. By Location
- 6.2.3.1. Leisure
- 6.2.3.2. Lodging
- 6.2.3.3. Retail
- 6.2.3.4. Standalone
- 6.2.3.5. Travel
- 7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. Vietnam Food Services Market Company Market Share Analysis, 2024
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 8. Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market
- 9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 9.1. Starbucks Vietnam
- 9.2. KFC Vietnam
- 9.3. Lotteria Vietnam
- 9.4. Pizza Hut Vietnam
- 9.5. Highlands Coffee
- 9.6. The Coffee House
- 9.7. Jollibee Vietnam
- 9.8. McDonald's Vietnam
- 9.9. Golden Gate Group
- 9.10. CGV Cinemas (Food Services Division)
- 9.11. GrabFood Vietnam
- 9.12. Other Prominent Players
- 10. Key Strategic Recommendations
- 11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1.Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1.Secondary Research
- 11.3.2.Primary Research
- 11.4. Breakdown of Primary Research Respondents, By Region
- 11.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Vietnam Food Services Market Segmentation
- Figure 2 Vietnam Food Services Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2024
- Figure 4 Vietnam Food Services Market Size, By Value (USD Million), 2019–2031
- Figure 5 Vietnam Food Services Market Share, By Foodservice Type, By Value, 2019–2031
- Figure 6 Vietnam Food Services Market Share, By Outlet type, By Value, 2019–2031
- Figure 7 Vietnam Food Services Market Share, By Location, By Value, 2019–2031
- List of Tables
- Table 1 Vietnam Food Services Market Size, By Value (USD Million), 2019–2031
- Table 2 Vietnam Food Services Market Size, By Foodservice Type, By Value, 2019–2031
- Table 3 Vietnam Food Services Market Size, By Outlet Type, By Value, 2019–2031
- Table 4 Vietnam Food Services Market Size, By Location, By Value, 2019–2031
- Table 5 Vietnam Food Services Market Size, By Size, By Value, 2019–2031
- Table 6 Starbucks Vietnam Company Overview
- Table 7 Starbucks Vietnam Financial Overview
- Table 8 KFC Vietnam Company Overview
- Table 9 KFC Vietnam Financial Overview
- Table 10 Lotteria Vietnam Company Overview
- Table 11 Lotteria Vietnam Financial Overview
- Table 12 Pizza Hut Vietnam Company Overview
- Table 13 Pizza Hut Vietnam Financial Overview
- Table 14 Highlands Coffee Company Overview
- Table 15 Highlands Coffee Financial Overview
- Table 16 The Coffee House Company Overview
- Table 17 The Coffee House Financial Overview
- Table 18 Jollibee Vietnam Company Overview
- Table 19 Jollibee Vietnam Financial Overview
- Table 20 McDonald's Vietnam Company Overview
- Table 21 McDonald's Vietnam Financial Overview
- Table 22 Golden Gate Group Company Overview
- Table 23 Golden Gate Group Financial Overview
- Table 24 CGV Cinemas (Food Services Division) Company Overview
- Table 25 CGV Cinemas (Food Services Division) Financial Overview
- Table 26 GrabFood Vietnam Company Overview
- Table 27 GrabFood Vietnam Financial Overview
Pricing
Currency Rates
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