iPOS.vn and Nestlé Professional publish the Food and Beverage Business Market Report in Vietnam 2024

On March 18, iPOS.vn and Nestlé Professional announced the Food and Beverage Market Report in Vietnam in 2024. This is an annual in-depth research project, conducted by iPOS.vn in collaboration with Nestlé Vietnam Limited Company, with advice and data appraisal by Vietnam Industry Research and Consulting Joint Stock Company (VIRAC).

“Vietnam Food and Beverage Market Report 2024” (hereinafter referred to as “the Report”) was developed from research on 4,005 coffee shops and 4,453 diners nationwide. At the same time, the Report was also combined with many secondary data sources from reputable market research units, combined with in-depth interviews with nearly 100 experts and leaders of F&B businesses in Vietnam.

Dishes using Matcha ingredients top the list of most popular food and drink trends in 2024.

Mr. Vu Thanh Hung, General Director of iPOS.vn Joint Stock Company, shared: “The year 2024 has marked many significant fluctuations in the F&B market in Vietnam. Despite facing common difficulties such as high raw material prices, the industry's revenue still recorded growth, although profits were affected. However, the market still has encouraging signs when diners' spending is at a fairly good level. The 2024 Food Business Market Report in Vietnam is one of the annual activities, providing useful knowledge to help businesses and individuals interested in the F&B industry have a more objective view of the market.”

Mr. Le Quang Long, Representative of Nestle Professional said: “The F&B market in Vietnam is always a market full of potential, but also has many challenges. This year, Nestle Professional is very proud and honored to accompany iPOS.vn in conducting the Vietnam Food Business Market Report 2024. With the goal of providing the latest updates on the market, on changes in consumer needs and tastes, we hope this report will support businesses in the Vietnamese F&B industry to develop”.

According to the Vietnam Food and Beverage Market Report, by the end of 2024, the number of F&B stores in Vietnam is estimated to reach 323,010 stores, an increase of 1.8% over the same period last year. Despite difficulties in consumption, revenue from the F&B industry in Vietnam in 2024 will still reach about 688.8 trillion VND, an increase of 16.6% compared to 2023.

Although the industry's overall revenue increased, according to a survey of 4,005 F&B units nationwide, only 25.5% of businesses recorded stable revenue compared to the same period in 2023, and 14.7% had growth. Under pressure from rising raw material prices, up to 49.2% of F&B businesses expected to increase prices in 2025 to cope with cost pressures.

Based on research results from nearly 4,500 diners, the Report shows that people's spending has not decreased but will prioritize good quality options at affordable prices. Accordingly, the trend of eating out on weekends is becoming very popular, especially the occasional and regular group, which accounts for nearly 70%. Different from the trend of two years after the pandemic, 52.3% of Vietnamese people now prioritize spending less than 35,000 VND for each drink, showing a trend of optimizing the budget when shopping. However, the habit of consuming drinks outside has grown strongly compared to 2023, with the proportion of regular drinkers (3-4 times/week) increasing dramatically from 17.4% (in 2023) to 32.8% (in 2024).

Despite facing many challenges, the F&B industry in Vietnam is forecast to continue growing by 9.6% in 2025, in line with the general market trend, but at a lower rate than in 2024.

Source: https://baotintuc.vn/doanh-nghiep-san-pham-dich-vu/iposvn-va-nestle-professional-cong-bo-bao-cao-thi-truong-kinh-doanh-am-thuc-tai-viet-nam-nam-2024-20250319113445655.htm