1. Market Research
  2. > Food Services Market Trends
Vietnam Food Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Vietnam Food Service Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • May 2021
  • 103 pages
  • ID: 6074770
  • Format: PDF
  • Mordor Intelligence LLP
Up to $650 off Until Jul 31st 2021


Table of Contents

Search Inside

Vietnam foodservice market was valued at USD 24.62 billion in 2020, and it is projected to witness an estimated CAGR of 8.65% during the forecast period of 2021-2026.

The COVID-19 pandemic has led to widespread economic distress throughout the South East region. The pandemic has had a profound impact on the food systems, including food security and nutrition, food and livestock production (including upstream input and credit provision), food safety, food supply chains, and regional food trade.

It has also impacted trade flows due to international logistics and transportation disruptions, and in some cases, due to policy responses, like import or export restrictions. There were about thirty-two trade flow interruptions that affected both food and agriculture inputs, including the foodservice market.

However, on the other hand, the foodservice industry catering fresh and healthy meals through online food delivery further had stabilized the flow of revenue in the market studied during the COVID-19 period in the country.?

The rapid growth of the fast-food sector in the country has led to an expansion of more food chains in the fast-food sector, thus, benefitting the overall market studied. This growth of the sector can be attributed to factors, such as convenience and availability of foods at lower costs, which are expected in independent full-service restaurants.

Franchising and sub-franchising have become very popular tools for multinational and local players in the country. Foodservice chains, like KFC, are prominent examples of the largest QSR chains in the country.

In order to compete with global foodservice restaurants, independent foodservice companies are introducing new offerings as per the local taste and preferences for Vietnam consumers. Also, companies are focusing on introducing new and innovative healthy foods with organic and natural ingredients in order to overcome the challenges faced by players in the industry. Moreover, increasing preference for street food by both local consumers and tourists is aiding the independent foodservice providers in the country to grow.

Key Market Trends
Growing Presence of International Fast-food Restaurants in Vietnam

In recent years, international fast-food restaurants have been marked by large-scale growth in the Vietnamese quick-service restaurant market due to increasing western influence that gave rise to fast food culture in the country, which is anticipated to undergo further growth over the coming years.

As per industry experts, the Vietnamese out-of-home consumption share from western food accounts for approximately 35%, driven by overseas chains and western franchises establishing their brands in Vietnam. The western restaurants are mainly located in District 1 of Vietnam, attract a strong presence of ex-pats and travellers, and higher average basket size transactions.

Vietnam has been experiencing incredible economic growth over the past decade, which is one of the major factors behind the expansion of international fast-food restaurants in the country and thus driving the market forward. According to the Ministry of Investment and Industry (MOIT), 183 foreign brands have been granted a franchise in Vietnam, mostly from the United States, Australia, South Korea, and the European Union.

Increasing Influence of Fast Food Foodservice Channel in Vietnam

The growth in quick service restaurants, coupled with the increasing out-of-home consumption, is mainly attributed to the working-class population seeking grab-and-go meals at a reasonable rate. Also, the increasing number millennial population seeking budget-friendly spaces to enjoy meals with their companions is boosting the market growth.

In 2018, according to Dcorp R- Keeper, there were increasing (7,000+) fast food outlets in Vietnam, compared to the 540,000 food and beverage businesses comprised of 430,000 street vendors, 80,000 restaurants and 22,000 cafes and bars.

Foreign fast-food chains are underperforming and are experiencing stiff competition from the domestic players in this category, due to high consumer preference for local taste and lower prices. However, few foreign brands, such as Jollibee, Lotteria, and KFC, who were early market entrants, are performing much better in comparison to the new players, such as McDonald’s, Burger King, or Subway.

Competitive Landscape
The leading players in the foodservice market enjoy a dominant presence in this region. It is dominated by players, like Jollibee Foods Corporation, McDonald’s, and Yum! Brands, and among others. There is stiff competition among the foodservice providers, based on pricing, quality of foodservice, calorie intake per meal, and healthier menu options. Restaurants across several foodservice channels have started changing their business strategies. Moreover, several players are boosting their sales by venturing into home delivery and online foodservice channels that are gaining popularity, particularly during the COVID-19 pandemic.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off


  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Australia Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • $ 3250 - $ 2925 - Get 10% off now!
  • June 2021
  • 127 pages

The Australia foodservice market was valued at USD 43,529.02 million in 2020 and is projected to witness a CAGR of 5.16% during the forecast period, 2021 - 2026. The COVID-19 pandemic has altered the ...

  • Australia
  • Restaurant
  • Pizza
  • Industry analysis
  • Same Store Sales
  • Beverage Production

Restaurant Markets in China $ 4000 March 2021


Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on