Global Information Inc. would like to present a new market research report, "Vietnamese Foodservice: The Future of Foodservice in Vietnam to 2016" by Canadean.
Steady urbanization...has led to a growth in demand for healthy food
The Vietnamese foodservice market was valued at VND511,477,775.3 million (US$24,495.9 million) in 2011. The Vietnamese foodservice market is expected to grow over the forecast period, driven by the increase in number of households, robust GDP, growth in tourism, and increasing urbanization.
In 2011, the profit sector accounted for 89.6% of total foodservice sales in Vietnam and recorded a CAGR of 6.76% over the review period. Restaurant channel was Vietnams largest channel in terms of foodservice sales. Furthermore, in the profit sector, accommodation recorded the highest CAGR, of 12.44% in local currency, over the review period, followed by travel with a CAGR of 9.00% in local currency.
Over the review period, the obese population as a percentage of the total population of the country, increased from 0.2% in 2006 to 0.3% in 2011. The country has also experienced steady urbanization, with a rate of 3.1% in 2010. This has led to a growth in demand for healthy food, particularly amongst families with young children or facing health issues, as well as amongst the cosmopolitan and young population of the country.
Small roadside pop-up restaurant outlets, which are very popular amongst the local populace, mostly serve local cuisines to their largely native customers. Traditional recipes such as Pho Noodle Soup, Banh Mi, and Spring Rolls are very popular in the country. These pop-up restaurants are not legal in Vietnam but are the most popular places to eat on-the-go.
Over the review period, the country had many foreign nationals coming in for business, tourism, and higher education which have led to an increase in the demand for ethnic food such as Indian, Japanese, Korean, Vietnamese, and recipes specific to other neighbouring countries.