F&B industry in Vietnam will continue to grow 9.6% in 2025

Matcha drinks rise to the top, with 29.6% of businesses choosing them, becoming a notable new trend in the F&B industry in Vietnam.

On March 18, iPOS.vn and Nestlé Professional announced the "Vietnam Food and Beverage Market Report 2024" (Report). This is an annual in-depth research project conducted by iPOS.vn in collaboration with Nestlé Vietnam Company Limited.

The report was built from research of 4,005 restaurants/cafes, 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.

Mr. Le Quang Long, representative of Nestle Professional shared: The F&B market in Vietnam is always a market full of potential, but also has many challenges. With the goal of providing the latest updates on the market, on changes in consumer needs and tastes, the Report will support business units in the Vietnamese F&B industry to develop orientation and optimize operations in the coming time, joining hands to develop the Vietnamese F&B market more sustainably and successfully.

"Nestlé Professional constantly conducts in-depth research to understand consumer behavior and tastes, thereby accompanying F&B businesses in creating products, experiences and business models that suit market needs," said Mr. Le Quang Long.

Mr. Le Quang Long, representative of Nestle Professiona, said that the Report will support business units in the Vietnamese F&B industry to develop orientations, join hands to develop the Vietnamese F&B market more sustainably and successfully - Photo: VGP/PD

Bright spots of the F&B market 2024

In the food business market in Vietnam, 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. Revenue in 2024 will reach about 688,800 billion VND, an increase of 16.6% compared to 2023.

Based on the research results of 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 accounting for nearly 70%.

Unlike the trend of 2 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 budget when shopping. However, the habit of consuming drinks outside has grown strongly compared to 2023, with the rate of regular drinkers (3-4 times/week) increasing dramatically from 17.4% (2023) to 32.8% (2024).

In 2024, many drinks have emerged as the top choice for young customers. Among them, matcha drinks have risen to the top with 29.6% of businesses choosing them, becoming a notable new trend in the F&B industry in Vietnam.

According to the report, dishes using matcha ingredients are at the top of the list of most popular food and beverage trends in 2024. In the beverage segment, MILO and matcha continue to affirm their appeal, not only in traditional recipes, but also through creative variations, meeting the diverse experience needs of young people.

Nestlé Professional is a separate division of Nestlé, specializing in providing raw material solutions and product ideas for business customers. Nestlé Professional has a diverse product portfolio from food to beverages, with many famous brands loved by millions of Vietnamese consumers.

Nestlé Professional is committed to developing innovative products that meet the needs of its partners, with the support of a team of professional chefs and baristas to develop new recipes for cooking and mixing. At the same time, Nestlé Professional is globally committed to implementing sustainable activities.

PD