Vietnam Food Service Market

Vietnam Food Service Market Size and Share:

The Vietnam food service market size was valued at USD 21.92 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 54.27 Billion by 2033, exhibiting a CAGR of 9.70% during 2025-2033. The growing number of tourists, rising foreign direct investment inflows, and increasing internet users and smartphone penetration in the country are some of the major factors contributing to the market.

​Rapid urbanization and growing middle class have led to increased disposable incomes, prompting consumers to seek diverse and convenient dining options. For instance, the urban and rural system planning for the 2021-2030 era with a vision to 2050 predicts that by 2030, Vietnam's urbanization rate will surpass 50%. This shift has resulted in a surge of restaurants, cafes, and food delivery services across urban centers, thereby fueling the Vietnam food service market share.​ Technological advancements have significantly transformed the food service landscape. The widespread adoption of smartphones and internet connectivity has facilitated the growth of online food ordering platforms and delivery services, enhancing consumer convenience and expanding market reach.​

Vietnam's booming tourism industry also contributes to market expansion. According to industry reports, the nation aims to transform tourism into a vital economic driver, targeting a minimum of 18 million international and 130 million local visitors by 2025 and 35 million international and 160 million local tourists by 2030. An influx of international visitors increases the demand for varied culinary experiences, encouraging establishments to diversify menus and improve service quality.​ According to the Vietnam food service market analysis, rising health consciousness among consumers is influencing food service offerings. There is a growing preference for nutritious, organic, and locally sourced ingredients, prompting businesses to adapt their menus accordingly.​ Foreign direct investment (FDI) plays a pivotal role, with international brands entering the market and introducing new dining concepts. This influx of capital and expertise fosters innovation and elevates industry standards.

Vietnam Food Service Market Trends

Growing number of tourists

According to an article published on the website of the Vietnam National Authority of Tourism, in the first five months of 2023, there were nearly 4.6 million international visitors’ arrivals to Vietnam. Tourism influx brings a rise in the demand for dining options as tourists are seeking authentic Vietnamese cuisine experiences and exploring local food specialties. This is increasing the expansion of restaurants, street food vendors, cafes, and food service establishments across popular tourist destinations. Moreover, international tourists often have diverse culinary preferences, leading to a broader range of food offerings in the industry. Restaurants and food service providers are responding by diversifying their menus for catering to different tastes and dietary preferences of tourists, including vegetarian, vegan, and international cuisines.

Rising foreign direct investment (FDI) inflows

An article published on the website of the General Statistics Office shows that in the first six months of 2023, the Vietnam’s foreign investment capital, including the total newly registered, adjusted and contributed capital to purchase shares of the whole country reached over 13.43 billion USD. The rise of FDI in Vietnam creates opportunities for many well-known international food chains and restaurant brands to enter the market. These global brands come up with a new dining concepts, cuisines and food dining experiences that may be novel to local people. Moreover, FDI can be a catalyst for infrastructure that is essential for the growth of food services, including commercial real estate, transportation routes, and recreational facilities. Improved infrastructure makes access to dining establishments easier, facilitates supply chain logistics, and stimulates tourism, all of which are creating a positive Vietnam food service market outlook.

Increasing internet users and penetration of smartphones

As per an article published in 2023 on the website of the Ministry of Information and Communication, 87% people have smartphones and 79% have an internet connection in the country. Many people getting online access and owning smartphones gives rise to high demand for online ordering and food delivery services. Through mobile app or website people can conveniently view menu, place an order, and make a payment. This trend is resulting into a proliferation of online food delivery services, which connect users with a wide range of restaurants and eateries, and therefore boosting consumption and revenues for the food service industry in Vietnam. Additionally, many food service businesses are developing their mobile apps to provide people with an enhanced dining experience. These apps offer features such as digital menus, table reservations, loyalty programs, and discounts, enabling people to engage with restaurants directly and enjoy personalized services, thereby supporting the market growth.

Vietnam Food Service Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Vietnam food service market, along with forecasts at the regional levels from 2025-2033. The market has been categorized based on foodservice type, outlet, and location.

Analysis by Foodservice Type:

• Cafes and Bars
  • Bars and Pubs
  • Cafes
  • Juice/Smoothie/Desserts Bars
  • Specialist Coffee and Tea Shops
• Cloud Kitchen
• Full Service Restaurants
  • Asian
  • European
  • Latin American
  • Middle Eastern
  • North American
  • Others
• Quick Service Restaurants
  • Bakeries
  • Burger
  • Ice Cream
  • Meat-based Cuisines
  • Pizza
  • Others

Cafes provide a space for socializing, working, or simply enjoying a cup of coffee, making them popular gathering spots for people of all ages. Furthermore, the increase of international coffee chains alongside local establishments is expanding the café scene, providing a variety of coffee styles, flavors, and experiences to meet different tastes. In addition, bars and pubs are broadening their appeal among the younger demographic and expatriates with vibrant nightlife that includes alcoholic beverages and entertainment options, which is bolstering the food service demand in Vietnam.

Cloud kitchens provide the cost-effective and efficient alternative to traditional restaurants. They do not require restaurants to own physical buildings and save on expenses related to rent, utilities, and front-of-house staff expenses, thereby focusing only on production and delivery. This simplicity approach is beneficial for startup entrepreneurs and food service providers who want to venture into the market with lower initial expenses and operational expenditures.

The full-service restaurants meet this cultural need by providing a large eating place, seating arrangements, and a variety of food that is suitable for group meals. Full-service restaurants provide a variety of food like Vietnamese food, Asian and other food of international standards, which are attractive to many people with diverse tastes and preferences. Furthermore, full-service restaurants have a high level of service with skillful waiters who offer personal attention, suggestions, and services at the table, thus creating an exciting dining experience.

Analysis by Outlet:

• Chained Outlets
• Independent Outlets

Chained outlets work on the principle of economies of scale and use uniform procedures which helps in a rapid growth and development of the business at different outlets. This scalability enables chained outlets serve different people’s preferences and demography from urban centers to suburbs outlets, attracting local and visiting clientele. Furthermore, chained outlets can leverage branding, marketing, and quality standardization across all its outlets to gain people's loyalty and trust in the long run.

Vietnam has a rich culinary tradition deeply ingrained in its culture, with a vibrant street food scene and a plethora of family-owned eateries offering authentic local cuisine. These independent outlets often serve as the backbone of Vietnam's food culture, catering to the diverse tastes and preferences of local people. Secondly, the entrepreneurial spirit is strong in Vietnam, with many individuals and families venturing into the food service business to pursue their passion for cooking and hospitality. This is leading to a proliferation of independent restaurants, cafes, and food stalls across the country.

Analysis by Location:

• Leisure
• Lodging
• Retail
• Standalone
• Travel

Vietnam's rapidly growing middle class is leading to a rise in discretionary spending on leisure activities, including dining out. As more people are seeking enjoyable experiences and social interactions, dining is becoming a key component of leisure activities for individuals and families. Moreover, Vietnam's rich culinary heritage and diverse gastronomic offerings make dining out an integral part of the leisure experience, with people eager to explore local specialties, street food delights, and international cuisines.

Many lodging facilities in Vietnam offer a range of dining options, including restaurants, cafes, bars, and room service, catering to the diverse preferences of domestic and international travelers. These establishments often prioritize quality, variety, and convenience in their food service offerings, aiming to enhance the overall guest experience and differentiate themselves in a competitive hospitality landscape. Moreover, lodging facilities frequently host events, conferences, and banquets, driving the demand for catering services and venue dining.

Vietnam has a vibrant street food culture, with numerous small-scale vendors and stalls lining the streets across cities and towns, offering a wide variety of affordable and delicious local dishes. This informal sector of the food service industry caters to the everyday dining needs of people, providing convenient and accessible options for breakfast, lunch, and dinner. Additionally, traditional markets play a significant role in Vietnam's food retail landscape, offering fresh produce, meats, seafood, and prepared food to local residents. These markets serve as important hubs of commerce and social interaction, contributing to the vibrancy of the local food scene.

Regional Analysis:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Northern Vietnam boasts a rich culinary heritage with unique regional specialties, such as noodle soup, grilled pork with noodles, and grilled fish with turmeric and dill, which are popular among locals and tourists alike. The region's favorable geographic location, proximity to agricultural areas, and access to fresh ingredients also contribute to the abundance of food service establishments, ranging from street vendors and family-owned eateries to upscale restaurants and international chains.

Central Vietnam's strategic location along the country's coastline provides access to a bounty of fresh seafood and local ingredients, which are central to many regional dishes. The region's culinary reputation, coupled with its status as a major tourist hub, positions, offering a dynamic and thriving food culture that continues to attract both locals and tourists alike, thereby stimulating the Vietnam food service demand.

Southern Vietnam has a rich culinary heritage, with a wide variety of local cuisines and street food specialties that attract domestic and international visitors. The region's favorable climate and fertile land is also contributing to the abundance of fresh ingredients and produce, supporting a culinary scene. Moreover, Southern Vietnam serves as a gateway for international trade and tourism, with busy ports, airports, and transportation networks facilitating the flow of tourists, expatriates, and business travelers who contribute to the demand for food services.

Competitive Landscape:

​The Vietnam food service market features a dynamic and competitive landscape, characterized by a blend of international chains, emerging regional players, and robust local enterprises. Global brands like McDonald's, Starbucks, and KFC have established a presence, while Chinese entrants such as Mixue and Haidilao are rapidly expanding, leveraging affordable pricing and localized offerings to capture market share. Local chains like Highlands Coffee and Phúc Long remain influential, capitalizing on strong brand loyalty and deep market understanding. The market is further intensified by the rise of food delivery platforms, with Grab and ShopeeFood dominating the sector, collectively holding a huge share of the market. This competitive environment fosters continuous innovation and strategic partnerships as businesses strive to meet evolving consumer preferences.

The Vietnam food service market research report provides a comprehensive analysis of the competitive landscape with detailed profiles of all major companies operating in the industry.

Latest News and Developments:

• April 2025: Sojitz and Royal Holdings aims to open THE ROYAL, their first restaurant in Vietnam, marking Sojitz’s entry into the sector. The venture aims to expand diverse dining concepts while leveraging Sojitz’s logistics and food operations to strengthen the retail value chain in Vietnam’s growing foodservice market.
• March 2025: Vietnam launched a handbook to help food firms navigate its new online food safety system, enforced from February 18. Developed with South Korea, the platform streamlines certifications and declarations. A national risk assessment center was also established to enhance regulations and align with international food safety standards.
• February 2025: Vietnam’s Golden Gate acquired The Coffee House from Seedcom after the coffee chain closed over a third of its outlets in 2024 due to financial struggles. The acquisition offers operational and financial support, strengthening Golden Gate’s position in Vietnam’s branded coffee shop market.
• November 2024: Tip Top Foodservice launched the new Speedibake Vietnamese Roll, featuring a crisp crust and airy interior to meet rising demand, growing over 50% year-on-year. Designed for versatility and convenience, the frozen rolls offer a 12-month shelf life, ideal for banh mi, gourmet sandwiches, and diverse foodservice applications.
• May 2024: VNDirect announced plans to acquire shares in Goldsun Food JSC, making it an affiliated company. Goldsun operates over 170 restaurants in Vietnam under 13 brands, including King BBQ and ThaiExpress. The move strengthens VNDirect’s presence in Vietnam’s growing food and beverage sector.

Vietnam Food Service Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam food service market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Vietnam food service market.
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam food service industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.