F&BFood and Beverages
The Vietnamese consumer foodservice industry will continue to record strong growth and is expected to reach the market size of about $28 BIllion USD in 2024. Vietnam’s expanding middle class and disposable income growth are the primary factors that explain the sustained attractiveness of the industry through the 21st Century. Both factors are also expected to raise the price and the quality of goods purchased by Vietnamese consumers.
As the market is crowded with independent players and brand share in chained players is fragmented, Vietnamese consumers are faced with numerous choices and close substitutes. Furthermore, brand loyalty is almost non-existent. Therefore, a player’s success will not be based on whether it is independent or chained, but rather on food quality, customer services and atmosphere.
Nowadays there has been a demand for transparency in the food industry. Consumers expect to trace the information of the origin, ingredients, and processing of the products. Vertical integration removes the middle steps in between the farm and the final product. The mindset is that providing products from farm to table for better quality control.
Waves of immigrants throughout different generations, media’s rising attention are factors behind Vietnamese cuisine’s popularity in overseas markets such as Korea, Japan, the US, France, etc.
Vietnamese food enterprises reinforce their brand name in both domestic and international markets by:
- Standardising their business model
- Franchising or obtaining a financial or strategic partner to create a restaurant chain
- Integrating the value chain vertically
With a broad international network and comprehensive understanding of Vietnam’s market conditions, TBRC can not only support foreign investors and companies in finding promising investment opportunities and strategies for market-entry into Vietnam but also accompany Vietnamese enterprises throughout their sustainable growth and development.
What can TBRC help you with in the F&B Industry?
- Market Research
- The Search for a Manufacturer or Producer
- M&A Strategies
- Strategic Development
Our services are tailored to fit your request. Feel free to contact us
180-192 Nguyen Cong Tru Str, Dist 1,
Ho Chi Minh City, Vietnam
+84 (0)906 911 337