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Market Research Report

Vietnam Food Service Market - Growth, Trends, and Forecast (2019 - 2024)

Published by Mordor Intelligence LLP Product code 851244
Published Content info 80 Pages
Delivery time: 2-3 business days
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Vietnam Food Service Market - Growth, Trends, and Forecast (2019 - 2024)
Published: May 1, 2019 Content info: 80 Pages
Description

Market Overview

The Vietnam Food Service Market is forecasted to reach USD 65.03 billion by 2024 growing at a CAGR of 13.05% during the forecast period (2019 - 2024).

  • Strong economic growth, rapid urbanization, and constantly rising disposable incomes are the key factors that will contribute to the development of the foodservice market in Vietnam. The younger generation fancies to live modern lifestyles and prefers socializing away from home, in food service establishments, similar to that of western countries.
  • Expansion of retail network, supermarket, hypermarket, restaurant chains, coffee shops, and bakeries has led to increasing popularity of the former among the youth population. Branded cafes and fast food chains had resilient growth over the past few years. With a diversified product portfolio, ranging from African to Western dishes, the count of full-service restaurants has gone up considerably. New entrants, such as Tokyo Deli (Japanese), Gogi (Korean-themed), and MK (Thai), are likely to intensify the competitive scenario of the Vietnamese foodservice market.

Scope of the Report

The Vietnam foodservice market is segmented by sector type into full-service restaurant, cafe and bar, street kiosk, fast food, and 100% home delivery. The bars/pubs segment is gaining popularity, due to the rising disposable income of the region. Improvement in economic conditions has favored the acceptance of bars/pubs. Some of the prominent juice/smoothie bars include Guanabana Smoothies, JuicElixir, and The Juice Bar.

Key Market Trends

Bars/pubs Record strongest Current value Growth

The changing lifestyle in the country has encouraged the consumers to shift to cafes from full-service restaurants, due to the increasing popularity of socializing through cafes. Customers of cafes include various population groups, from young to old and from low-income to high-income consumers. This has resulted in a better business opportunity for small-scale investors to expand across the potential regions. The cafes are of two types, chained cafes and independent cafes. The chained cafes usually specialize in a category of products, whereas independent cafes have the freedom to develop products according to the needs of the consumers.

Chained Pizza Full-Service Restaurants Records Outstanding Growth

The Vietnam Food Service Market is forecasted to reach USD 65.03 billion by 2024 growing at a CAGR of 13.05% during the forecast period (2019 - 2024). The Pizza FSR segment in Vietnam is dominated by international brands like Pizza hut (entered the market in 2007), Dominos (entered the market in late 2010), Pizza Inn, etc. The international brands are strategically located in the urban areas of Vietnam, like, Hanoi, HCM City, Dong Nai, Binh Duong, and Can Tho, as they form the majority of the share of the consumer base for their premium products. The growing popularity of pizza in Vietnam has encouraged international companies to expand in the country, along with the steady competition from local players.

Competitive Landscape

The most prominent companies in this region include Jollibee Food Corporation, Yum! Brands, Dunkin Brands, Lotteria Company Ltd., Huy, and AFG, among others. Some of the renowned and luxurious hotel groups in Vietnam, including Hyatt Group and Mariott International, have full-service restaurants with various cuisines. Golden Gate Trade & Services held a majority market share of the Vietnamese foodservice market in 2016.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 66440

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

  • 3.1 Market Overview

4 MARKET DYNAMICS

  • 4.1 Market Drivers
  • 4.2 Market Restraints
  • 4.3 Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Full-Service Restaurant(FSR)
    • 5.1.2 Cafe and Bar
    • 5.1.3 Street Kiosk
    • 5.1.4 Fast Food
    • 5.1.5 100% Home Delivery Restaurants

6 COMPETITIVE LANDSCAPE

  • 6.1 Most Active Companies
  • 6.2 Most Adopted Strategies
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles
    • 6.4.1 Jollibee Food Corp.
    • 6.4.2 Yum! Brands
    • 6.4.3 Dunkin Brands
    • 6.4.4 Vietnam Lotteria Company Ltd
    • 6.4.5 Huy Vietnam
    • 6.4.6 Starbucks Corporation
    • 6.4.7 AFG Vietnam
    • 6.4.8 Golden Gate JSC

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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