Report Overview

Vietnam Food Services Market, Industry Trends & Forecast Report, 2031

Vietnam Food Services Market size was estimated at USD 22.56 billion in 2024. During the forecast period from 2025 to 2031, Vietnam Food Services Market size is projected to grow at a CAGR of 4.50%, reaching a value of USD 30.70 billion by 2031. Rapid urbanization, rising disposable incomes, expanding middle class, evolving consumer preferences, tourism growth, digital food delivery platforms, fast-paced lifestyles, youth-driven demand, international cuisine popularity, quick-service restaurant expansion, government infrastructure support, foreign investment inflow, convenience-focused dining, mobile app adoption, health-conscious trends, food safety regulations, global brand penetration, local franchise growth, social media influence, and increasing demand for diverse, affordable, and high-quality dining experiences across urban and suburban regions of Vietnam.

Food Services – Overview

Food services industry encompasses restaurants, cafes, catering, and institutional providers offering meals and beverages for immediate consumption. It plays a vital role in economic development, employment generation, and cultural exchange. Driven by evolving consumer preferences, health trends, and digital innovations, the sector includes commercial and non-commercial segments. From fast food to fine dining, food services adapt to changing lifestyles, sustainability goals, and global influences. Technology, convenience, and quality remain central to delivering satisfying culinary experiences across diverse settings and demographics.

Vietnam Food Services Market 

Growth Drivers

Rising Disposable Incomes across Rapidly Expanding Urban Population

Rapid urbanization and rising disposable incomes are transforming Vietnam Food Services Market. As more citizens migrate to cities and earn higher wages, demand for diverse, convenient, and premium dining experiences surges. Urban centers like Ho Chi Minh City and Hanoi witness a proliferation of restaurants, cafes, and delivery platforms. This shift in lifestyle, coupled with a growing middle class, drives expansion across quick-service and full-service segments, attracting foreign investment and elevating industry standards.

Challenges

Stringent Food Safety Regulations Limit Market Flexibility

Vietnam Food Services Market faces constraints due to rigorous food safety regulations enforced by the Ministry of Health and related agencies. Businesses must comply with complex standards for hygiene, labeling, and ingredient sourcing, often requiring costly certifications and inspections. Imported food products face additional scrutiny, including mandatory registration and testing. These regulatory burdens can slow market entry, increase operational costs, and challenge small vendors, limiting innovation and agility in a rapidly evolving consumer landscape.

Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market 

Escalating geopolitical tensions—such as U.S. tariffs on Vietnamese exports and global trade disruptions—pose indirect risks to Vietnam’s food services market. Rising import costs and supply chain instability can affect ingredient sourcing and pricing. Investor uncertainty 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 and investment hub may attract supply chain shifts, fostering local sourcing and innovation within the food services sector.

Vietnam Food Services Market 

Segmental Coverage

Vietnam Food Services Market – By Foodservice Type

By foodservice type, Vietnam Food Services Market is divided into Full Service Restaurants, Quick Service Restaurants (QSR), Cafes & Bars, and Cloud Kitchens segments. Full Service Restaurants (FSRs) segment dominates Vietnam Food Services Market by foodservice type. FSRs’ popularity stems from Vietnam’s rich culinary heritage and consumer preference for diverse, sit-down dining experiences. FSRs offer a wide range of local and international cuisines, attracting both domestic patrons and tourists. Despite the rise of Quick Service Restaurants and Cloud Kitchens, FSRs maintain their stronghold due to cultural dining habits and the value placed on hospitality.

Vietnam Food Services Market – By Outlet Type

Based outlet type, Vietnam Food Services Market is divided into Chain Outlets and Independent Outlets segments. The independent outlets segment emerged as the leading outlet type in Vietnam Food Services Market. The segment’s market dominance is fueled by Vietnamese consumers’ strong preference for traditional, locally owned eateries that reflect regional flavors and cultural authenticity. These outlets range from street food vendors to family-run restaurants, offering personalized service and home-style cooking. While Chain Outlets are growing rapidly, especially in urban areas, Independent Outlets remain the backbone of Vietnam’s vibrant culinary landscape.

Vietnam Food Services Market – By Location

On the basis of location, Vietnam Food Services Market is divided into Leisure, Lodging, Retail, Standalone, and Travel segments. The standalone outlets segment emerged as the largest in Vietnam Food Services Market by location. These outlets include independent restaurants, cafes, and eateries not tied to lodging, retail, or travel venues. Their dominance is driven by Vietnam’s vibrant street food culture, entrepreneurial spirit, and consumer preference for accessible, locally rooted dining experiences. The flexibility and variety offered by standalone establishments make them the cornerstone of Vietnam’s dynamic culinary landscape

Competitive Landscape

Major companies operating in Vietnam Food Services Market include 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. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Foodservice Type

• Full-Service Restaurants

• Quick Service Restaurants (QSR)

• Cafes & Bars

• Cloud Kitchens  

By Outlet Type

• Chain Outlets

• Independent Outlets 

By Location

• Leisure

• Lodging

• Retail

• Standalone

• Travel

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Food Services Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising Disposable Incomes and Urbanization
         2. Expansion of Online Food Delivery Platforms
         3. Increasing Number of Fast-Food Chains      
      2. Restraints
         1. Stringent Food Safety Regulations
         2. High Operational Costs for Small Vendors
         3. Limited Skilled Workforce in Hospitality Sector   
      3. Opportunities
         1. Growth in Tourism and Hospitality Industry
         2. Demand for Health-Conscious and Fusion Cuisine     
      4. Challenges
         1. Changing Consumer Preferences Toward Healthy Eating
         2. Intense Market Competition Among Domestic and Global Brands  
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Food Services Market: Marketing Strategies
5. Vietnam Food Services Market: Pricing Analysis
6. Vietnam Food Services Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Foodservice Type
         1. Full-Service Restaurants
         2. Quick Service Restaurants (QSR)
         3. Cafes & Bars
         4. Cloud Kitchens   
      2. By Outlet Type
         1. Chain Outlets
         2. Independent Outlets  
      3. By Location
         1. Leisure
         2. Lodging
         3. Retail
         4. Standalone
         5. Travel
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Vietnam Food Services Market Company Market Share Analysis, 2024
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Vietnam Food Services Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Starbucks Vietnam
   2. KFC Vietnam
   3. Lotteria Vietnam
   4. Pizza Hut Vietnam
   5. Highlands Coffee
   6. The Coffee House
   7. Jollibee Vietnam
   8. McDonald's Vietnam
   9. Golden Gate Group
   10. CGV Cinemas (Food Services Division)
   11. GrabFood Vietnam
   12. Other Prominent Players      
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.  Primary & Secondary Research
    2.   Quantitative Research
    3.   Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5.   Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Food Services Market Segmentation

Figure 2       Vietnam Food Services Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2024

Figure 4       Vietnam Food Services Market Size, By Value (USD Million), 2019–2031

Figure 5       Vietnam Food Services Market Share, By Foodservice Type, By Value, 2019–2031

Figure 6       Vietnam Food Services Market Share, By Outlet type, By Value, 2019–2031

Figure 7       Vietnam Food Services Market Share, By Location, By Value, 2019–2031

List of Tables

Table 1         Vietnam Food Services Market Size, By Value (USD Million), 2019–2031

Table 2         Vietnam Food Services Market Size, By Foodservice Type, By Value, 2019–2031

Table 3         Vietnam Food Services Market Size, By Outlet Type, By Value, 2019–2031

Table 4         Vietnam Food Services Market Size, By Location, By Value, 2019–2031

Table 5         Vietnam Food Services Market Size, By Size, By Value, 2019–2031

Table 6 Starbucks Vietnam Company Overview

Table 7 Starbucks Vietnam Financial Overview

Table 8 KFC Vietnam Company Overview

Table 9 KFC Vietnam Financial Overview

Table 10 Lotteria Vietnam Company Overview

Table 11 Lotteria Vietnam Financial Overview

Table 12 Pizza Hut Vietnam Company Overview

Table 13 Pizza Hut Vietnam Financial Overview

Table 14 Highlands Coffee Company Overview

Table 15 Highlands Coffee Financial Overview

Table 16 The Coffee House Company Overview

Table 17 The Coffee House Financial Overview

Table 18 Jollibee Vietnam Company Overview

Table 19 Jollibee Vietnam Financial Overview

Table 20 McDonald's Vietnam Company Overview

Table 21 McDonald's Vietnam Financial Overview

Table 22 Golden Gate Group Company Overview

Table 23 Golden Gate Group Financial Overview

Table 24 CGV Cinemas (Food Services Division) Company Overview

Table 25 CGV Cinemas (Food Services Division) Financial Overview

Table 26 GrabFood Vietnam Company Overview

Table 27 GrabFood Vietnam Financial Overview