Food service industry in Vietnam - statistics & facts

Dining out culture in Vietnam

Dining out, in many cases, is not a luxury but rather a necessity for many Vietnamese people, especially in bigger cities where a faster pace of life, long working hours, and commutes are more common. Street vendors, who account for the largest part of foodservice businesses in Vietnam, cater to all, from students to office workers, with diverse menu offerings at reasonable prices. One can quickly grab a loaf of bánh mì on the go, sit down for a piping hot bowl of phở or even for a barbeque dinner, all at street stalls. On the other hand, the increasing disposable income of the population has boosted the patronage of full-service restaurants and fast food with pricier menus before the COVID-19 pandemic. Golden Gate, a food service chain owning almost 400 full-service restaurants across Vietnam, had recorded growing revenue and millions of customer visits each year. Meanwhile, international fast-food chains, such as Lotteria, KFC, and Jollibee, had the most coverage among foodservice chains, despite struggling with being profitable in a market dominated by small local businesses.

How did the COVID-19 pandemic impact the foodservice sectors in Vietnam?

The accommodation and foodservice sector in Vietnam was hit hard during the COVID-19 pandemic. In the first nine months of 2021, Vietnam recorded high infection rates across the country, causing several regional lockdowns, which led to restrictions on dine-in restaurants in many cities. In addition, Vietnamese consumers’ intention to spend on entertainment and dining declined significantly during that time. In total, the revenue of the foodservice sector fell by over 20 percent. On the other hand, the restriction on dining out has given rise to the usage of food delivery services and related business models, such as virtual restaurants and cloud kitchens. According to a survey conducted at the end of 2021, the majority of Vietnamese consumers planned to continue ordering food even after COVID-19 lockdowns. The online food delivery segment in Vietnam is shaping up to become a billion-dollar industry by 2022 after gaining significant momentum during the pandemic.

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