Vietnam Food Services Market Size Set to Reach USD 30.7 Billion by 2031

Published | 06 August 2025

Vietnam Food Services Market is booming primarily due to rapid urbanization, rising incomes, changing tastes, growing tourism sector, expanding fast food segment, and the growing adoption of digital technologies and preference for online delivery by the tech savvy young professionals.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Food Services Market size by value at USD 22.56 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Food Services Market size to grow at a steady CAGR of 4.50%, reaching a value of USD 30.70 billion. The growth of Vietnam Food Services Market driven by rapid urbanization, rising disposable incomes, and a growing middle class seeking diverse dining options. The surge in tourism fuels demand for varied cuisines, while digital platforms and smartphone penetration boost online food delivery. Fast-paced lifestyles favor quick-service restaurants, and international brands expand aggressively. Changing consumer preferences, including health-conscious choices, also shape offerings. Government support, foreign investments, and improved infrastructure further accelerate growth across major cities like Hanoi and Ho Chi Minh City.

Opportunity – Growth in Tourism and Hospitality Industry

The booming tourism and hospitality sector is a major catalyst for the growth of Vietnam Food Services Market. With over 12 million international visitors and thriving domestic travel, demand for diverse dining experiences has surged. The rise of hotels, resorts, and entertainment venues fuels restaurant expansion, especially in tourist hotspots like Hanoi and Ho Chi Minh City. Government initiatives, improved infrastructure, and global marketing campaigns have positioned Vietnam as a top destination, directly boosting food service consumption across all segments.

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Independent Outlets Lead Vietnam Food Services Market ​

Independent outlets are the largest segment in Vietnam Food Services Market. Their market dominance stems from Vietnamese consumers’ strong preference for traditional and locally owned dining establishments, which offer authentic flavors and personalized service. These outlets range from street food vendors and family-run eateries to regional restaurants that reflect Vietnam’s rich culinary heritage. Their widespread presence across urban and rural areas makes them a cornerstone of the country’s vibrant food culture.

Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market 

Intensifying geopolitical tensions, particularly United States’ increasing tariffs on Vietnamese exports and global trade disruptions, pose indirect risks to Vietnam Food Services Market. Increased import costs and supply chain instability can affect ingredient availability and pricing. Investor caution may slow the expansion of international food chains. However, Vietnam’s strategic location and growing domestic demand offer resilience. The country’s appeal as a manufacturing hub may attract supply chain shifts, encouraging local sourcing and innovation within the food services sector.

Competitive Landscape

Vietnam Food Services Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are Starbucks Vietnam, KFC Vietnam, Lotteria Vietnam, Pizza Hut Vietnam, Highlands Coffee, The Coffee House, Jollibee Vietnam, McDonald's Vietnam, Golden Gate Group, CGV Cinemas (Food Services Division), and GrabFood Vietnam. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Food Services Market.

Don’t miss the business opportunity in Vietnam Food Services Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Food Services Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Food Services Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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