Report Description

Forecast Period


Market Size (2023)

USD 21.62 Billion

CAGR (2024-2029)


Fastest Growing Segment


Largest Market

Southern Vietnam

Market Size (2029)

USD 40.45 Billion

Market Overview

Vietnam Food Service Market was valued at USD 21.62 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 11.01% through 2029. The Vietnam food service market has experienced significant growth and transformation in recent years, reflecting the country's economic development, changing consumer preferences, and an increasingly dynamic culinary landscape. With a rich and diverse culinary heritage, Vietnam's food service industry has become a hub for local and international flavors, making it a thriving and competitive market.

One of the primary drivers of growth in the Vietnamese food service market is the country's expanding middle class and rising disposable incomes. As more people have the means to dine out, the demand for diverse and convenient dining options has surged. This has led to the proliferation of restaurants, cafes, street food vendors, and food delivery services.

Traditional Vietnamese cuisine remains at the heart of the market, with dishes like pho, banh mi, and spring rolls continuing to be favorites among locals and tourists alike. However, the industry has also seen a fusion of international flavors, with various global cuisines becoming increasingly popular. This fusion is evident in the emergence of Vietnamese-American, Vietnamese-French, and Vietnamese-Japanese restaurants, catering to the evolving tastes of the population.

The rise of food delivery services has been another significant trend in the Vietnam food service market. Companies like GrabFood and GoFood have revolutionized the way Vietnamese people access food, providing an array of choices at their fingertips. This shift has further accelerated the growth of cloud kitchens, which are centralized cooking facilities that cater exclusively to delivery orders.

Sustainability and health consciousness have also started to influence the market. Consumers are showing an increased interest in organic, locally sourced, and healthy food options. As a result, many restaurants and food service providers have adapted by incorporating these elements into their offerings.

Key Market Drivers

Rapid Urbanization and Changing Lifestyles

One of the primary drivers of the Vietnam food service market is the rapid urbanization and changing lifestyles of the country's population. As more people move to urban areas in search of better job opportunities and improved living standards, there is a growing demand for convenient and diverse food options. The hectic pace of urban life has led to an increase in dining out, takeaway, and food delivery services.

Urbanization has also given rise to a new generation of consumers who are more open to international cuisines and modern dining concepts. This has paved the way for the proliferation of global food chains, trendy cafes, and innovative culinary experiences. As a result, food service businesses are continually evolving to cater to the changing preferences and demands of urban consumers.

Rising Disposable Income and Tourism

Vietnam's growing economy and rising disposable income levels have played a significant role in driving the food service market. As people have more money to spend, they are increasingly willing to explore dining options beyond traditional street food stalls and local eateries. This has led to a surge in demand for high-end restaurants, gourmet dining, and premium food experiences.

Additionally, Vietnam's thriving tourism industry has contributed to the growth of the food service sector. Tourists from around the world visit Vietnam to explore its rich culinary heritage and indulge in local delicacies. As a result, there is a constant influx of visitors looking for diverse food experiences, ranging from street food vendors to upscale restaurants.

Technological Advancements and Digitalization

Technological advancements and digitalization have revolutionized the Vietnam food service market, making it one of the most dynamic and competitive in the region. Mobile applications and online platforms have made it easier for consumers to order food, make reservations, and explore new dining options. This convenience has led to an explosion in the food delivery and online food ordering segment.

Moreover, technology has empowered food service businesses with data analytics, automation, and innovative marketing strategies. This, in turn, helps them streamline their operations, improve customer experiences, and optimize their menus based on customer preferences and trends. The integration of technology in the industry has also allowed for enhanced safety measures and contactless dining options, which have gained importance in the wake of the COVID-19 pandemic.

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Key Market Challenges

Competition and Market Saturation

One of the primary challenges in the Vietnam food service market is the increasing competition and market saturation. The country has seen a proliferation of restaurants, cafes, and street food vendors, resulting in a crowded marketplace. With more players entering the market, businesses must constantly innovate and differentiate themselves to stand out.

Many new entrants are capitalizing on popular food trends and concepts, creating fierce competition. Established businesses need to adapt to changing consumer preferences, incorporate modern technology, and invest in marketing and branding to remain relevant. As a result, the cost of entry and staying competitive in the market has increased significantly.

To address this challenge, food service businesses in Vietnam must focus on niche markets, unique offerings, and exceptional customer experiences. Collaborations, partnerships, and mergers might also help streamline operations and reduce costs while maintaining quality and variety.

Rising Operating Costs

The rising operating costs in the Vietnam food service market pose another significant challenge. Over the years, inflation, increases in minimum wages, and higher costs of raw materials and ingredients have put pressure on profit margins for many businesses. Moreover, the pandemic's impact on supply chains and labor shortages have exacerbated this issue.

To address the challenge of rising operating costs, businesses must adopt cost-efficient practices, optimize their supply chains, and negotiate better deals with suppliers. Automation and technology can help streamline operations and reduce labor costs, while also improving service efficiency. Additionally, exploring sustainable sourcing and waste reduction strategies can minimize the impact of cost increases.

Government policies and incentives to support the food service industry by providing tax breaks or subsidies for certain operational expenses can also help mitigate the impact of rising costs.

Food Safety and Quality Assurance

Food safety and quality assurance are critical challenges in the Vietnam food service market. Ensuring safe and high-quality food is essential for maintaining consumer trust and complying with regulatory requirements. Unfortunately, there have been several incidents of foodborne illnesses and contamination, which have raised concerns among customers.

To address this challenge, businesses need to prioritize food safety and quality control throughout the supply chain. This includes implementing rigorous hygiene and sanitation standards in food preparation, storage, and transportation. Regular training of staff on food safety practices and compliance with national and international standards is also crucial.

Additionally, leveraging technology and traceability solutions can help track the origin of ingredients and detect any potential issues in the supply chain. Collaborating with reputable suppliers and conducting frequent audits and inspections can further ensure the safety and quality of the food served.

Key Market Trends

Digital Transformation and Online Food Delivery

One of the most notable trends in the Vietnam food service market is the rapid digital transformation and the surge in online food delivery services. With the widespread adoption of smartphones and the internet, consumers have increasingly turned to food delivery platforms and mobile apps to order their favorite dishes. Companies like GrabFood, GoFood, and Foodpanda have gained immense popularity, offering a wide range of dining options at the customer's doorstep.

This trend has not only created a more convenient and efficient way for consumers to enjoy their favorite meals but has also presented significant opportunities for food service providers. Restaurants, cafes, and even street vendors have embraced digital platforms to expand their customer base and adapt to changing consumer preferences. Furthermore, these platforms have enabled data collection and analysis, helping businesses tailor their offerings and marketing strategies to better suit the preferences of their target audience.

However, this trend has also increased competition, making it crucial for food service providers to offer unique and high-quality products to stand out in the crowded marketplace. Additionally, concerns related to food safety and hygiene, as well as the environmental impact of packaging waste, are areas that both providers and regulators are addressing as this trend continues to grow.

Health and Wellness Consciousness

Another notable trend in the Vietnam food service market is the increasing awareness of health and wellness among consumers. As more people seek a healthier lifestyle, there is a growing demand for nutritious and balanced food options. This trend has led to the rise of establishments that offer organic, plant-based, and low-calorie menu items.

The awareness of food sourcing and production practices has also become a prominent aspect of this trend. Consumers are increasingly concerned about the origin of their food and its impact on the environment. As a result, many food service providers are incorporating sustainability and ethical practices into their operations. This includes sourcing local and organic ingredients, reducing food waste, and adopting eco-friendly packaging solutions.

Health-conscious consumers are also looking for transparency when it comes to nutritional information, leading many establishments to provide detailed information about the nutritional content of their menu items. This trend has opened up opportunities for businesses specializing in health-focused and eco-friendly dining experiences, while pushing traditional food service providers to adapt and innovate to cater to this evolving consumer preference.

Culinary Diversity and Fusion Cuisine

Vietnam is known for its rich culinary heritage, and a trend that has been gaining momentum is the exploration of culinary diversity and fusion cuisine. This trend is driven by the desire to experiment with different flavors and ingredients while retaining the essence of traditional Vietnamese cuisine. As a result, a wide range of international and regional cuisines are being incorporated into the food service market, creating unique and innovative dining experiences.

Fusion cuisine, such as Vietnamese-Mexican or Vietnamese-Japanese, has become increasingly popular. Food service providers are not only experimenting with new flavors but also with the presentation of their dishes, combining traditional Vietnamese elements with contemporary culinary techniques. This trend has contributed to the creation of a vibrant and diverse food scene in Vietnam, attracting both locals and tourists alike.

Additionally, street food vendors have played a significant role in promoting culinary diversity, offering a wide array of international street food options alongside traditional Vietnamese dishes. This trend has expanded the palates of consumers and has led to increased culinary creativity in the food service market.

Segmental Insights

Type Insights

The Vietnam food service market is experiencing dominating demand from Pubs, Bars, Clubs, and Lounges (PBCL), spurred by the country's rapid urbanization and economic growth. As urban centers expand and modernize, a burgeoning middle class with higher disposable incomes is emerging, eager to embrace contemporary leisure and dining experiences. This demographic shift has led to an increased appetite for social and nightlife venues that offer a blend of entertainment, diverse culinary options, and trendy ambiances. The influence of Western culture, coupled with the local population's growing curiosity about global food and drink trends, has further propelled the popularity of PBCL establishments. These venues provide a vibrant social scene that caters to the preferences of young adults and expatriates alike, making them integral to Vietnam’s evolving nightlife culture.

Tourism also plays a pivotal role in the rising demand for PBCL in Vietnam. With the country's tourism sector booming, especially in urban hotspots like Ho Chi Minh City and Hanoi, there is a significant influx of international visitors seeking familiar yet novel nightlife experiences. The proliferation of craft beers, artisanal cocktails, and innovative fusion cuisine in PBCLs has attracted both tourists and locals, enhancing the appeal of these venues. Furthermore, strategic investments by local and international hospitality groups have led to the opening of high-end and themed establishments, adding diversity and sophistication to the market. Enhanced marketing efforts, social media influence, and positive word-of-mouth have also contributed to the growth of PBCLs. Consequently, these establishments are not only thriving but are also setting new standards for Vietnam’s food service industry, reflecting the country's dynamic cultural and economic landscape.

Ownership Insights

Chained outlets have carved out a significant share in the Vietnam Food Service Market, making a substantial impact on the nation's culinary landscape. This development reflects the country's changing dining preferences, evolving lifestyles, and increasing urbanization. Chained outlets, which encompass a variety of dining formats, have been embraced by both locals and tourists, offering a diverse range of cuisines and experiences.

One of the key reasons for the proliferation of chained outlets is the convenience they offer. As urbanization continues to rise, more people are seeking quick and accessible dining options. Chained outlets, often characterized by standardized menus and efficient service, meet this demand. They offer consistency in terms of food quality, preparation, and presentation, which is appealing to consumers who want a familiar experience wherever they go.

Furthermore, chained outlets benefit from economies of scale, which allow them to negotiate better pricing with suppliers and implement cost-effective marketing strategies. This enables them to offer competitive prices, making dining out more accessible to a broader audience. The affordability factor is particularly significant in a country like Vietnam, where a substantial portion of the population belongs to the middle-income segment.

Chained outlets have not only been quick to adapt to local tastes but have also introduced innovative concepts that cater to the evolving culinary preferences of the Vietnamese population. They have embraced the rich tapestry of Vietnamese cuisine, offering both traditional and contemporary options. Additionally, international fast-food chains have made their mark, serving a diverse range of flavors from around the world, making the food scene in Vietnam more cosmopolitan.

The food service market in Vietnam has seen tremendous growth due to tourism, and chained outlets have positioned themselves to cater to this influx of visitors. They often have a strong presence in popular tourist destinations, ensuring that tourists can find familiar options while exploring the country. This contributes significantly to their share in the market.

While traditional street food and family-owned eateries remain an integral part of Vietnamese culture, chained outlets have introduced a level of professionalism and standardization that appeals to consumers seeking a modern dining experience. In many cases, they act as a bridge between the rich culinary traditions of Vietnam and the demands of contemporary urban living.

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Regional Insights

Southern Vietnam holds a significant share in the Vietnam Food Service Market, owing to its rich culinary heritage, diverse gastronomic offerings, and bustling urban centers. The region, encompassing cities like Ho Chi Minh City, Long An, Binh Duong, and Vung Tau, plays a pivotal role in shaping the country's culinary landscape.

One of the primary factors contributing to the prominence of Southern Vietnam in the food service market is its cultural diversity. The region is a melting pot of various ethnicities, resulting in a wide array of culinary influences. This diversity has given rise to a vast and vibrant street food culture, with markets and stalls offering delectable dishes like pho, banh mi, goi cuon, and com tam, among others. The accessibility and affordability of these street foods have made them an integral part of Southern Vietnamese daily life.

The region's economic development, particularly in cities like Ho Chi Minh City, has also significantly bolstered its food service market. As these urban centers grow and thrive, so does the demand for dining out and the proliferation of restaurants, cafes, and eateries catering to various tastes and preferences. From upscale restaurants serving authentic Vietnamese cuisine to international fast-food chains, Southern Vietnam offers a diverse range of dining options, making it a haven for food enthusiasts.

Moreover, the region's proximity to the Mekong Delta, often referred to as the "Rice Bowl of Vietnam," ensures a steady supply of fresh, locally-sourced ingredients. This agricultural abundance fuels the creation of farm-to-table dining experiences, promoting sustainability and quality in the food service industry. The availability of fresh seafood, tropical fruits, and a wide variety of vegetables adds a unique dimension to the Southern Vietnamese cuisine, making it highly sought after both locally and internationally.

The bustling nature of Southern Vietnam's cities, coupled with a culture that values communal dining, has led to the proliferation of food markets, night markets, and food festivals. These events not only showcase the region's culinary excellence but also serve as social hubs, bringing people together to celebrate their love for food.

Recent Developments

  • On September 16 2023, Starbucks Vietnam celebrated ten years of steady growth by opening their one hundredth Starbucks location. The 100th Starbucks location in Vietnam is locted in Hanoi's brand-new leisure and retail district, Lotte Mall West Lake. The store was created as a tribute to the stunning natural setting that raises coffee beans.
  • In 2023, the Japanese hamburger company Shogun Burger was launched in Vietnam. In addition to launching its iconic burgers, the company will provide Vietnamese-specific burger options, such the limited-edition Banh Mi Burger or a patty made with a combination of Japanese and Vietnamese beef.

Key Market Players

  • Lotteria Vietnam Co., Ltd
  • Golden Gate Group Joint Stock Company
  • Imex Pan Pacific Group
  • Jollibee Vietnam Co., Ltd.
  • Lotte GRS Co.,Ltd
  • Mesa Asia Pacific Trading Services Company Ltd
  • Restaurant Brands International, Inc.
  • Starbucks Corporation
  • AFG Vietnam
  • Yum! International Restaurant Group

By Type

By Ownership

By Brands

By Region

  • Dining Service
  • PBCL
  • QSR
  • Cafe
  • Others
  • Standalone Outlets
  • Chained Outlets
  • Domestic
  • International 
  • Northern Vietnam
  • Southern Vietnam
  • Central Vietnam


Report Scope:

In this report, the Vietnam food service market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Food Service Market, By Type:

o   Dining Service

o   PBCL

o   QSR

o   Cafe

o   Others  

  • Vietnam Food Service Market, By Ownership:

o   Standalone Outlets

o   Chained Outlets

  • Vietnam Food Service Market, By Brands:

o   Domestic

o   International      

  • Vietnam Food Service Market, By Region:

o   Northern Vietnam

o   Southern Vietnam

o   Central Vietnam 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Food Service market.

Available Customizations:

Vietnam Food Service market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vietnam Food Service Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer

4.1.  Factors Influencing Purchase Decision

4.2.  Challenges Faced Post Purchase

4.3.  Brand Awareness

5.    Vietnam Food Service Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type Market Share Analysis (Dining Service (Hotels, Restaurants), PBCL (Pubs, Bars, Clubs and Lounges), QSR (Quick Service Restaurants), Cafe, and Others)

5.2.2.    By Ownership Market Share Analysis (Standalone Outlets and Chained Outlets)

5.2.3.    By Brands Market Share Analysis (Domestic and International)

5.2.4.    By Regional Market Share Analysis        Northern Vietnam Market Share Analysis        Southern Vietnam Market Share Analysis        Central Vietnam Market Share Analysis

5.2.5.    By Top 5 Companies Market Share Analysis, Others (2023)

5.3.  Vietnam Food Service Market Mapping & Opportunity Assessment

5.3.1.    By Type Market Mapping & Opportunity Assessment

5.3.2.    By Ownership Market Mapping & Opportunity Assessment

5.3.3.    By Brands Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Vietnam Dining Service Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Ownership Market Share Analysis

6.2.2.    By Brands Market Share Analysis

6.2.3.    By Region Market Share Analysis

7.    Vietnam PBCL Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Ownership Market Share Analysis

7.2.2.    By Brands Market Share Analysis

7.2.3.    By Region Market Share Analysis

8.    Vietnam QSR Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Ownership Market Share Analysis

8.2.2.    By Brands Market Share Analysis

8.2.3.    By Region Market Share Analysis

9.    Vietnam Cafe Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Ownership Market Share Analysis

9.2.2.    By Brands Market Share Analysis

9.2.3.    By Region Market Share Analysis

10.    Market Dynamics

10.1.  Drivers

10.2.  Challenges

11. Impact of COVID-19 on Vietnam Food Service Market

11.1.             Impact Assessment Model   

11.1.1. Key Segments Impacted

11.1.2. Key Regions Impacted

12. Market Trends & Developments

13. SWOT Analysis

13.1.             Strengths

13.2.             Weaknesses

13.3.             Opportunities

13.4.             Threats

14. Policy and Regulatory Landscape

15. Vietnam Economic Profile

16. Competitive Landscape

16.1.   Company Profiles

16.1.1. Lotteria Vietnam Co., Ltd     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.2. Golden Gate Group Joint Stock Company     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.3. Imex Pan Pacific Group     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.4. Jollibee Vietnam Co., Ltd.     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.5. Lotte GRS Co.,Ltd     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.6. Mesa Asia Pacific Trading Services Company Ltd     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.7. Restaurant Brands International, Inc.     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.8. Starbucks Corporation     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.9. AFG Vietnam     Company Details     Product & Services     Financials (As Per Availability)     Key market Focus & Geographical Presence     Recent Developments     Key Management Personnel

16.1.10.              Yum! International Restaurant Group  Company Details  Product & Services  Financials (As Per Availability)  Key market Focus & Geographical Presence  Recent Developments  Key Management Personnel

17. Strategic Recommendations

17.1.             Key Focus Areas

17.2.             Target By Type

17.3.             Target By Brands

18. About Us & Disclaimer

Figures and Tables

Frequently asked questions


The market size of the Vietnam food service market was estimated to be USD 21.62 billion in 2023.


Challenges in the Vietnam food service market include increasing competition, rising operational costs, and the need to maintain food safety and hygiene standards while meeting the diverse preferences of a rapidly changing consumer base.


The Vietnam food service market is experiencing a growing demand for healthier and more diverse dining options, with a focus on organic and plant-based choices. Additionally, there is a noticeable trend towards digitization and online food delivery services, reflecting changing consumer preferences and convenience in the modern age.


The major drivers for the Vietnam food service market are rapid urbanization and the increasing disposable income of the population, leading to a growing demand for dining out and convenience. Additionally, the rich culinary diversity and cultural importance of food in Vietnamese society play a significant role in driving the market's growth.


Parvati Sharma

Account Manager BD
Press Release

Vietnam Food Services Market to Grow with a CAGR of 11.01% through 2029

Jun, 2024

Vietnam food services market is experiencing robust growth driven by various factors such as rapid urbanization, rising incomes, a young and evolving consumer base, and the growth of tourism.