Vietnam’s F&B industry in 2023 faced both pressure in operations and meaningful shifts in what consumers want. On the business side, rising raw material costs climbed to increase expenses by 18.7% and urban labor shortages hit a 35% vacancy rate. At the same time, diners continued to spend more—Gen Z increased F&B spending by 28% year over year—while tastes leaned toward health-focused and plant-based choices. This backdrop sets up how the market grows across organized players and e-commerce.
Key Takeaways
- Supply chain disruptions affected 28% of F&B businesses in Vietnam during 2023.
- Labor shortages in F&B sector reached 35% vacancy rate in urban areas in 2023.
- Rising raw material costs increased F&B operational expenses by 18.7% in 2023.
- Vietnam's Gen Z population (aged 18-25) spent 28% more on F&B in 2023 than in 2022, averaging VND 5.2 million annually.
- 67% of Vietnamese urban consumers prefer dine-in experiences over delivery in 2023 surveys.
- Health-conscious F&B choices rose to 54% among millennials in Vietnam in 2023, up from 42% in 2021.
- Market projected to reach USD 38.7 billion by 2028, CAGR 8.8% from 2023.
- F&B e-commerce expected to grow 25% annually to USD 10 billion by 2028.
- Organized F&B share to rise from 35% to 50% by 2028 in Vietnam.
- FDI in F&B reached USD 1.8 billion in 2023, led by South Korean investors at 35%.
- Jollibee acquired 60% stake in Viet F&B chain for USD 120 million in 2023.
- Highlands Coffee expanded to 650 outlets with USD 50 million investment in 2023.
- In 2023, Vietnam's Food and Beverage (F&B) market was valued at approximately USD 25.4 billion, reflecting a compound annual growth rate (CAGR) of 10.2% from 2018 to 2023, primarily fueled by urbanization and a burgeoning middle class.
- The F&B sector contributed 1.5% to Vietnam's total GDP in 2022, with projections to reach 2.1% by 2027 due to increased domestic consumption.
- Vietnam's F&B industry saw a revenue growth of 15.3% in Q4 2023 compared to Q4 2022, driven by post-pandemic recovery and holiday spending surges.
Rising costs, labor shortages, and food safety closures squeezed Vietnam’s F&B sector as demand shifted toward healthier, dine in experiences.
Related reading
01 · Category
Challenges And Opportunities16 stats
01
Supply chain disruptions affected 28% of F&B businesses in Vietnam during 2023.
02
Labor shortages in F&B sector reached 35% vacancy rate in urban areas in 2023.
03
Rising raw material costs increased F&B operational expenses by 18.7% in 2023.
04
Food safety violations led to closure of 1,250 F&B outlets in Vietnam in 2023.
05
Digital transformation adoption in F&B was only 42% in SMEs by end-2023.
06
Climate change impacted 22% of Vietnam's F&B supply from agriculture in 2023.
07
High rental costs burdened 61% of independent F&B operators in HCMC 2023.
08
Counterfeit F&B products seized worth USD 150 million in Vietnam 2023 raids.
09
Energy costs rose 24% for F&B establishments in 2023 due to global prices.
10
Only 29% of F&B firms had comprehensive sustainability plans in 2023 surveys.
11
Post-pandemic debt levels averaged 45% of revenue for F&B chains in 2023.
12
Tourism fluctuations caused 19% revenue volatility for resort F&B in 2023.
13
Regulatory compliance costs rose 15% for F&B importers in Vietnam 2023.
14
Waste management challenges affected 53% of large F&B operations in 2023.
15
E-commerce competition eroded 12% of traditional F&B retail sales in 2023.
16
Skilled chef shortage hit 40% in premium F&B segments in 2023.
Interpretation
Challenges And Opportunities Interpretation
In Vietnam’s F and B industry, challenges are intensifying alongside clear opportunities, with 35% labor shortages in urban areas and 28% supply chain disruptions in 2023 while rising raw material costs lifted operational expenses by 18.7% and only 42% of SMEs have adopted digital transformation by end 2023.
02 · Category
Consumer Behavior And Preferences19 stats
01
Vietnam's Gen Z population (aged 18-25) spent 28% more on F&B in 2023 than in 2022, averaging VND 5.2 million annually.
02
67% of Vietnamese urban consumers prefer dine-in experiences over delivery in 2023 surveys.
03
Health-conscious F&B choices rose to 54% among millennials in Vietnam in 2023, up from 42% in 2021.
04
72% of Vietnamese consumers aged 25-40 increased spending on plant-based F&B products in 2023.
05
Coffee consumption per capita in Vietnam reached 2.5 kg in 2023, with 81% preferring local brands.
06
45% of Hanoi consumers opted for sustainable packaging in F&B purchases in 2023.
07
Vietnamese women aged 18-35 spent 32% more on functional beverages in 2023 compared to men.
08
58% of urban Vietnamese reduced sugar intake via F&B choices in 2023 health surveys.
09
Delivery app usage for F&B in Vietnam hit 69% penetration among smartphone users in 2023.
10
76% of Vietnamese tourists prioritized local cuisine experiences in 2023 travel surveys.
11
Organic F&B product preference among high-income Vietnamese rose to 41% in 2023.
12
63% of Gen Z in HCMC chose vegan options at least weekly in 2023 dining habits.
13
Alcohol consumption trends showed 55% of urban males preferring craft beer over traditional in 2023.
14
48% of Vietnamese families increased home-cooked meal frequency post-2023 inflation.
15
Street food loyalty remained at 82% among low-income consumers in rural Vietnam 2023.
16
71% of online shoppers in Vietnam read reviews before F&B purchases in 2023.
17
Preference for ready-to-eat (RTE) meals jumped 29% among working professionals in 2023.
18
52% of seniors (60+) in Vietnam favored traditional pho over modern fusions in 2023.
19
Impulse buying in F&B supermarkets reached 39% of sales in urban Vietnam 2023.
Interpretation
Consumer Behavior And Preferences Interpretation
Vietnamese consumer preferences are shifting toward value, health, and experience, with Gen Z spending on F&B up 28% in 2023 to an average of VND 5.2 million annually and plant based choices rising as 72% of consumers aged 25 to 40 increased spending on them.
03 · Category
Future Projections And Investments10 stats
01
Market projected to reach USD 38.7 billion by 2028, CAGR 8.8% from 2023.
02
F&B e-commerce expected to grow 25% annually to USD 10 billion by 2028.
03
Organized F&B share to rise from 35% to 50% by 2028 in Vietnam.
04
Per capita F&B spend forecasted at USD 350 by 2028, up from USD 245 in 2023.
05
Coffee market to expand to USD 12 billion by 2028, CAGR 11.2%.
06
Plant-based F&B products projected 30% CAGR to USD 1.5 billion by 2028.
07
FDI inflows to F&B expected USD 2.5 billion annually by 2028.
08
QSR segment growth at 20% CAGR, reaching 40% market share by 2028.
09
Non-alcoholic beverages to hit USD 7.2 billion by 2028, 14% CAGR.
10
Urban F&B consumption projected to comprise 75% of total by 2028.
Interpretation
Future Projections And Investments Interpretation
Vietnam’s F and B market is projected to climb to USD 38.7 billion by 2028 with an 8.8% CAGR, while key investment themes like e commerce growing 25% annually to USD 10 billion and organized retail expanding from 35% to 50% signal strong momentum for future growth in the years ahead.
More related reading
04 · Category
Investments And Key Players19 stats
01
FDI in F&B reached USD 1.8 billion in 2023, led by South Korean investors at 35%.
02
Jollibee acquired 60% stake in Viet F&B chain for USD 120 million in 2023.
03
Highlands Coffee expanded to 650 outlets with USD 50 million investment in 2023.
04
KFC Vietnam opened 80 new stores in 2023, total 240, backed by Yum! Brands.
05
Masan Group reported F&B revenue of USD 4.2 billion in 2023, 25% market leader.
06
Starbucks entered Vietnam with 50 stores by 2023, USD 100 million initial investment.
07
Vinamilk dominated dairy F&B with 55% market share and USD 2.5 billion revenue 2023.
08
Lotteria Vietnam grew to 280 outlets, USD 80 million revenue in F&B 2023.
09
FDI approvals for F&B projects totaled 150 new ventures worth USD 900 million in 2023.
10
Phuoc Thanh Group invested USD 200 million in seafood F&B processing plants 2023.
11
McDonald's launched 20 stores in Vietnam 2023 with USD 45 million commitment.
12
Acecook Vietnam led instant noodles with 42% share, USD 450 million sales 2023.
13
Dutch Lady (FrieslandCampina) held 28% yogurt market, USD 300 million revenue 2023.
14
Beerco Vietnam (Heineken) invested USD 150 million in new brewery capacity 2023.
15
Golden Gate Group operated 400 outlets, USD 1.1 billion revenue in F&B 2023.
16
PepsiCo expanded snack production with USD 70 million plant upgrade in 2023.
17
Red Bull Vietnam sales hit USD 250 million in energy drinks F&B 2023.
18
Vingroup entered F&B with Vinpearl resorts adding 50 outlets, USD 300 million.
19
Unilever Vietnam F&B division grew 12% to USD 1.3 billion in 2023.
Interpretation
Investments And Key Players Interpretation
Vietnam’s F&B landscape is being rapidly reshaped through major investments and acquisitions in 2023, from USD 1.8 billion in FDI led by South Korea at 35% to deals like Jollibee buying a 60% stake in Viet F&B for USD 120 million and global brands accelerating store growth with Starbucks at 50 locations and KFC reaching 240 total stores.
05 · Category
Market Overview And Growth20 stats
01
In 2023, Vietnam's Food and Beverage (F&B) market was valued at approximately USD 25.4 billion, reflecting a compound annual growth rate (CAGR) of 10.2% from 2018 to 2023, primarily fueled by urbanization and a burgeoning middle class.
02
The F&B sector contributed 1.5% to Vietnam's total GDP in 2022, with projections to reach 2.1% by 2027 due to increased domestic consumption.
03
Vietnam's F&B industry saw a revenue growth of 15.3% in Q4 2023 compared to Q4 2022, driven by post-pandemic recovery and holiday spending surges.
04
The organized F&B segment in Vietnam grew by 18.7% year-on-year in 2023, accounting for 35% of the total market share.
05
Vietnam's F&B export value reached USD 4.8 billion in 2023, with a 12% increase from 2022, led by coffee, seafood, and processed foods.
06
Domestic F&B consumption in urban areas of Vietnam surged 22.4% in 2023, representing 65% of total sector revenue.
07
The F&B market in Ho Chi Minh City alone was valued at USD 8.2 billion in 2023, comprising 32% of national F&B sales.
08
Vietnam's F&B industry employed over 2.1 million people in 2023, with a 9.5% increase in workforce from 2022.
09
Inflation-adjusted F&B growth in Vietnam stood at 11.8% in 2023, outpacing the national GDP growth of 8.0%.
10
The quick-service restaurant (QSR) subsector within F&B grew by 25.6% in 2023, driven by fast-casual dining trends.
11
Vietnam's per capita F&B spending reached USD 245 in 2023, up 14.2% from USD 214 in 2022.
12
F&B e-commerce sales in Vietnam hit USD 3.5 billion in 2023, growing at 28.4% YoY.
13
The beverage segment of Vietnam's F&B market expanded by 13.7% in 2023 to USD 9.1 billion.
14
Street food vendors contributed 42% of total F&B revenue in Hanoi in 2023, valued at USD 1.2 billion.
15
Vietnam's F&B industry attracted FDI of USD 1.8 billion in 2023, a 20.5% increase from 2022.
16
The non-alcoholic beverage market in Vietnam grew 16.2% in 2023, reaching USD 4.2 billion.
17
F&B chain outlets in Vietnam increased by 1,450 stores in 2023, totaling 12,300 outlets nationwide.
18
Vietnam's F&B recovery post-COVID reached 95% of pre-pandemic levels by end-2023.
19
The premium F&B segment grew 19.8% in 2023, capturing 15% market share.
20
F&B revenue from tourism in Vietnam hit USD 2.9 billion in 2023, up 35% YoY.
Interpretation
Market Overview And Growth Interpretation
Vietnam’s F&B market is expanding quickly, with the organized segment rising 18.7% year on year in 2023 and reaching 35% of total market share, signaling strong momentum in market growth under this Market Overview and Growth lens.
06 · Category
Sector Segments18 stats
01
Food service establishments in Vietnam's full-service restaurants grew by 14.2% in 2023.
02
The coffee shop segment dominated F&B with 28% market share in 2023, valued at USD 7.1 billion.
03
Seafood processing within F&B exported USD 1.9 billion in 2023, 40% of total food exports.
04
Fast food chains held 22% of organized F&B outlets in 2023, with 2,700 locations.
05
The bakery and confectionery segment grew 17.5% to USD 2.8 billion in Vietnam 2023.
06
Alcoholic beverages subsector revenue was USD 5.6 billion in 2023, led by beer at 85% share.
07
Hotel F&B services generated USD 1.4 billion in 2023, up 24% from 2022.
08
Processed meat products in F&B reached USD 1.2 billion sales in 2023 domestically.
09
Juice and soft drinks segment expanded to USD 2.1 billion in 2023, 23% YoY growth.
10
Street food and hawker stalls accounted for 55% of total foodservice outlets in 2023.
11
Dairy products F&B sales hit USD 3.4 billion in 2023, with yogurt leading at 30%.
12
Casual dining restaurants grew 16.8% in outlet numbers to 4,500 in 2023.
13
Instant noodles dominated packaged F&B with 1.2 billion packs sold in 2023.
14
Fine dining F&B segment valued at USD 850 million in 2023, targeting high-end consumers.
15
Tea beverage market in Vietnam was USD 1.7 billion in 2023, with ready-to-drink at 45%.
16
Frozen food F&B sales surged 21% to USD 1.1 billion in urban markets 2023.
17
Pubs and bars F&B revenue reached USD 900 million in 2023 post-reopening.
18
Snack foods segment grew 15.4% to USD 2.3 billion in Vietnam F&B 2023.
Interpretation
Sector Segments Interpretation
Within Vietnam’s Sector Segments, coffee shops led the F&B market with a 28% share worth USD 7.1 billion in 2023, while strong momentum also showed up in growth pockets like bakery and confectionery rising 17.5% to USD 2.8 billion and full-service restaurants expanding 14.2%.
report visual · Breakdown
Vietnam F&B challenges vs. adoption (2023)
Key operating pressures (supply chain and labor) are still high even as parts of the sector lag in digital transformation.
28%
Supply chain disruptions affected 28% of F&B businesses in Vietnam during 2023.
72%
72% of Vietnamese consumers aged 25-40 increased spending on plant-based F&B products in 2023.
Reference
Cite This Report
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APA
Stefan Wendt. (2026, February 13). Vietnam F&B Industry Statistics. Gitnux. https://gitnux.org/vietnam-f-b-industry-statistics
MLA
Stefan Wendt. "Vietnam F&B Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/vietnam-f-b-industry-statistics.
Chicago
Stefan Wendt. 2026. "Vietnam F&B Industry Statistics." Gitnux. https://gitnux.org/vietnam-f-b-industry-statistics.
Sources & references
61 datasets cited across this report · attribution is report-level