Discover the latest market trends and uncover sources of future market growth for the Consumer Foodservice by Location industry in Vietnam with research from Euromonitor’s team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
100% home delivery and takeaway
Cafes and bars
Consumer foodservice by location
Street stalls and kiosks
The Consumer Foodservice by Location in Vietnam market research report includes:
Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
What is the market size of Consumer Foodservice by Location in Vietnam?
What are the major brands in Vietnam?
How are economic or demographic factors impacting the foodservice industry in Vietnam?
How are multinational and local operators expanding in Vietnam?
How have consumer lifestyle trends and eating habits influenced foodservice in Vietnam?
Economic crisis has little effect on consumer foodservice performance
2011 was known as a year of high inflation and essentially rising food prices. Though generally, consumers reduced their spending, this was not the case for consumer foodservice. Vietnamese consumers might cut back their spending on electronic items, or holidays, but not on foodservice, as it is considered a necessary aspect to their lifestyle. Consumer foodservice still recorded a good performance over the review period, with transaction counts increased and current value sales recording strong growth.
Local dishes thrive
As consumers had greater exposure to information, they tended to be more aware of health and wellness issues. Western food once regarded as fashionable, and high-class, was now considered as less healthy than traditional Vietnamese food. Consumer foodservice witnessed greater consolidation of Vietnamese chained full-service restaurants, further enhancing their brand image.
With the arrival of international players, as well as the strong competitive position of local players, the consumer foodservice environment witnessed more intensified competition. Companies invested heavily in upgrading their outlets, their décor, their service and specific value, as well as their product quality to attract customers. In addition, companies also focused on developing their takeaway/delivery service to cater to the rising need for fast meals for busy customers. The environment is vibrant and developed rapidly over the review period.Competition intensifies
Chained business model is flourishing
In 2011, chained consumer foodservice witnessed robust growth in term of outlets and retail value sales. Though it is difficult for companies to maintain the quality standards across their chains, the chained business model enjoyed economies of scale, allowing brands to reduce costs while rapidly enhancing brand reputation and consumer awareness. However, the chained business model requires intensive capital and management skills, which the majority of local players find difficult to achieve. Despite the difficulties, in 2011, not only did international chains thrive, but local chains, such as Pho 24, also flourished.
Consumer foodservice is expected to continue its robust growth
As the economy is expected to recover, consumer foodservice will continue to grow over the forecast period. There will be more international players joining consumer foodservice in Vietnam, and there will also be more local chained players further strengthening their competitive positions. Over the forecast period, big cities will still be the centre of growth for consumer foodservice, but newly- developed cities will also provide the main competitive environment, as companies need to expand their business into these areas in other to move ahead of other players
(Source: Hoang Le’s)