Beyond the sizzle of street food stalls and the buzz of high-end dining rooms, Vietnam's restaurant industry is a colossal economic force, contributing a hearty 4.5% to the national GDP and dishing out 18.7 billion USD in value added in 2023 alone.
Key Takeaways
- In 2023, Vietnam's restaurant industry contributed approximately 4.5% to the national GDP, equating to around 18.7 billion USD in total value added
- The foodservice market in Vietnam reached 25.4 billion USD in revenue in 2022, with restaurants accounting for 62% of that total
- Vietnam's quick-service restaurant (QSR) segment grew by 12.8% year-on-year in 2023, driven by urban expansion
- Vietnam had 285,000 formal restaurant establishments in 2023, excluding informal vendors
- Ho Chi Minh City hosted 92,000 restaurants in 2023, 32% of national total
- Hanoi had 68,500 restaurant outlets in 2023, growing 8% YoY
- 68% of Vietnamese consumers dine out at least once a week in 2023
- Average meal spend per visit in restaurants was 8.5 USD in urban Vietnam 2023
- 72% of millennials prefer QSR over full-service in 2023 survey
- Restaurant industry employed 2.8 million workers in 2023, 5.2% of workforce
- Average monthly wage in restaurants was 6.2 million VND (260 USD) in 2023
- 58% of restaurant staff are female in Vietnam 2023
- Industry expected to grow at 11.5% CAGR to 38 billion USD by 2028
- QSR segment projected to reach 12 billion USD by 2027, 14% CAGR
- Fine dining to grow 9.2% annually to 2.5 billion USD by 2028
Vietnam's restaurant industry grew robustly across all segments in 2023.
Consumer Behavior
- 68% of Vietnamese consumers dine out at least once a week in 2023
- Average meal spend per visit in restaurants was 8.5 USD in urban Vietnam 2023
- 72% of millennials prefer QSR over full-service in 2023 survey
- Online ordering accounted for 45% of restaurant sales in 2023
- 55% of consumers choose restaurants based on hygiene ratings in 2023
- Pho remains top ordered dish at 42% of restaurant visits in 2023
- 61% of diners use delivery apps weekly for restaurant food in 2023
- Female consumers make 52% of restaurant spending in 2023
- 48% prefer local cuisine over international in restaurants 2023
- Average group dining size is 4.2 persons per restaurant visit in 2023
- 37% of consumers seek sustainable sourcing in restaurants 2023
- Lunch is peak time, 58% of daily restaurant visits in 2023
- 29% dine out for business meetings weekly in urban areas 2023
- Vegetarian meal orders rose 25% to 18% of total in 2023
- 64% check online reviews before choosing restaurant in 2023
- Family dining accounts for 41% of restaurant traffic in 2023
- Alcohol pairing in meals: 22% of dinners in 2023
- Post-6pm dining peaks at 39% of daily revenue in 2023
- 51% of Gen Z prefer Instagrammable restaurants in 2023
- Health-focused menu choices up 31% in 2023 surveys
- 73% loyal to local chains over global brands in 2023
- Weekend dining surge: 2.8x weekday average in 2023
- Seafood demand peaks in summer, 28% higher orders June-Aug 2023
- 44% use loyalty apps for restaurant discounts in 2023
- Couples dining: 19% of visits, average spend 15 USD in 2023
- Solo dining rose to 12% of urban visits in 2023
- Festival dining boosts: Tet 2023 saw 35% revenue spike
- 67% influenced by social media ads for new restaurants 2023
Consumer Behavior Interpretation
While Vietnam's love affair with pho and group dining remains the nation's hearty lunchtime backbone, its culinary future is being reshaped by tech-savvy, health-conscious millennials who demand quick, hygienic, and Instagrammable meals delivered by app, proving that tradition and trend can share a table so long as the WiFi is strong.
Employment and Labor
- Restaurant industry employed 2.8 million workers in 2023, 5.2% of workforce
- Average monthly wage in restaurants was 6.2 million VND (260 USD) in 2023
- 58% of restaurant staff are female in Vietnam 2023
- Chefs numbered 450,000 in the industry in 2023
- Turnover rate in restaurants averaged 28% annually in 2023
- 1.2 million waitstaff employed across 450,000 outlets in 2023
- Training programs reached 180,000 workers in 2023
- Urban restaurants hired 1.65 million, 59% of total labor in 2023
- Migrant workers: 42% of restaurant employees in 2023
- Part-time staff comprised 35% of workforce at 980,000 in 2023
- Managers in restaurants: 95,000 positions filled in 2023
- Skill shortage affected 62% of restaurants hiring in 2023
- Overtime hours averaged 12 per week in busy seasons 2023
- Youth employment (18-25): 48% of total staff in 2023
- Delivery riders for restaurants: 450,000 in 2023
- Unionized workers: 22% or 616,000 in restaurants 2023
- Wage growth: 7.8% YoY in restaurant sector 2023
- Foreign chefs: 2,500 working in high-end restaurants 2023
- Cleaning staff: 320,000 employed in 2023
- Bartenders numbered 85,000 in restaurant-bars 2023
- New hires: 450,000 added to payrolls in 2023
- Unemployment rate in sector post-COVID: 3.2% in 2023
- Benefits coverage: 41% of workers get health insurance in 2023
- Seasonal hires peaked at 250,000 during Tet 2023
- Tech-skilled staff (POS operators): 120,000 in 2023
- Labor cost as % of revenue: 32% average in 2023
- Female managers: 28% of total management roles in 2023
- Apprenticeships: 45,000 enrolled in restaurant programs 2023
- Gig economy workers in fb delivery: 180,000 full-time equiv 2023
Employment and Labor Interpretation
While Vietnam's restaurants serve as a massive and vital engine of employment—powered significantly by women and youth—the industry is running a high-turnover, high-pressure kitchen where the scramble to find skilled staff and balance thin margins is as constant as the demand for its services.
Growth Projections
- Industry expected to grow at 11.5% CAGR to 38 billion USD by 2028
- QSR segment projected to reach 12 billion USD by 2027, 14% CAGR
- Fine dining to grow 9.2% annually to 2.5 billion USD by 2028
- Delivery market share to hit 55% of restaurant sales by 2027
- Vegan restaurants projected to triple to 1,350 outlets by 2028
- Tourism-driven revenue to surge 18% YoY to 5 billion USD by 2025
- Chain expansions: 6,500 new outlets by 2027 forecast
- Per capita spend to rise to 280 USD by 2028 from 192 USD
- Sustainable restaurants to capture 25% market by 2030
- AI-integrated restaurants to number 15% by 2028
- Southern region growth at 13% CAGR to 2028
- Hanoi restaurant market to double to 9.6 billion USD by 2028
- Street food formalization: 40% shift to regulated by 2027
- Health food segment CAGR 16.5% to 1.2 billion USD by 2028
- Buffet market to expand 12% annually post-2023
- Coffee restaurants to hit 7.5 billion USD by 2028
- Foreign investment inflows: 1.5 billion USD annually avg to 2028
- Employment to reach 4.2 million by 2028, 8% workforce share
- E-commerce integration: 70% restaurants online by 2027
- Luxury segment CAGR 10.8% to 1.8 billion USD by 2028
- Pho chains to grow 20% outlets by 2027
- Night economy restaurants: 25% revenue growth to 2028
- Resort fb CAGR 14% driven by tourism rebound
- Zero-waste restaurants to rise 300% by 2028
- Gen Z spending power to drive 22% sector growth by 2030
- Cloud kitchen market to 2 billion USD by 2028
- Regional cuisine fusion outlets x2.5 by 2028
- Post-pandemic recovery full by 2025 at 110% pre-COVID levels
Growth Projections Interpretation
Vietnam’s restaurant scene is rapidly evolving from pho chains to fine dining, with delivery apps poised to be the new street food stalls, all while a health-conscious Gen Z demands their vegan bánh mì with a side of AI-ordering and zero waste.
Market Size and Revenue
- In 2023, Vietnam's restaurant industry contributed approximately 4.5% to the national GDP, equating to around 18.7 billion USD in total value added
- The foodservice market in Vietnam reached 25.4 billion USD in revenue in 2022, with restaurants accounting for 62% of that total
- Vietnam's quick-service restaurant (QSR) segment grew by 12.8% year-on-year in 2023, driven by urban expansion
- Total restaurant outlets in Vietnam numbered over 450,000 in 2023, including street vendors and formal establishments
- The fine dining segment in Ho Chi Minh City alone generated 1.2 billion USD in 2022, representing 15% of national fine dining revenue
- Casual dining restaurants saw a 9.5% revenue increase in 2023, totaling 8.9 billion USD nationwide
- Street food vendors contributed 35% of the total restaurant industry revenue in 2023, estimated at 6.5 billion USD
- The restaurant sector's market capitalization for listed chains reached 2.1 billion USD by end-2023
- In Hanoi, restaurant revenue grew 11.2% in 2023 to 4.8 billion USD, fueled by tourism recovery
- Vietnam's restaurant industry export-related revenue (via tourism) hit 3.2 billion USD in 2023
- Full-service restaurants accounted for 28% of industry revenue in 2022, totaling 7.1 billion USD
- The organic and healthy food restaurant niche grew 18% to 450 million USD in 2023
- Da Nang's restaurant market size was 1.1 billion USD in 2023, with 15% YoY growth
- Vietnam restaurant chains' combined revenue reached 5.6 billion USD in 2023
- The vegan restaurant segment expanded to 320 million USD revenue in 2023, up 22%
- In 2023, per capita restaurant spending in Vietnam averaged 192 USD annually
- Hotel-attached restaurants generated 2.8 billion USD in 2023, 14% of total industry
- The bakery-cafe restaurant hybrid market hit 1.9 billion USD in 2023
- Southern Vietnam restaurants dominated with 58% of national revenue at 11.2 billion USD in 2023
- Northern region restaurant revenue was 4.3 billion USD in 2023, growing 10.5%
- Central Vietnam's restaurant industry valued at 2.9 billion USD in 2023, boosted by coastal tourism
- Fast-casual restaurants revenue climbed to 3.4 billion USD in 2023, up 13.2%
- Ethnic cuisine restaurants (Vietnamese fusion) reached 890 million USD in 2023
- Seafood restaurant segment revenue was 2.1 billion USD in 2023, 11% growth
- Barbecue and grill restaurants generated 1.7 billion USD in 2023 nationwide
- Buffet-style restaurants saw 750 million USD revenue in 2023, recovering 20% post-COVID
- Coffee shop restaurants (with meals) totaled 4.2 billion USD in 2023
- Pho restaurant chains alone contributed 1.5 billion USD in 2023
- Banh mi street restaurants estimated at 950 million USD revenue in 2023
- Luxury restaurant revenue in top cities was 680 million USD in 2023, up 16%
Market Size and Revenue Interpretation
Vietnam’s restaurant scene is a deliciously chaotic economic engine, where humble street vendors and chic fine dining rooms somehow coexist to serve up nearly 5% of the nation's GDP on a single, unified platter.
Number of Establishments
- Vietnam had 285,000 formal restaurant establishments in 2023, excluding informal vendors
- Ho Chi Minh City hosted 92,000 restaurants in 2023, 32% of national total
- Hanoi had 68,500 restaurant outlets in 2023, growing 8% YoY
- There were 1,250 international restaurant chains operating in Vietnam by 2023
- QSR chains numbered 4,200 outlets in 2023, dominated by KFC and Lotteria
- Independent restaurants made up 78% of total establishments at 221,000 in 2023
- Da Nang registered 18,400 restaurants in 2023, up 12% from 2022
- Street food stalls totaled 165,000 nationwide in 2023
- Fine dining restaurants numbered 2,800 in major cities in 2023
- Casual dining outlets reached 112,000 in 2023
- Hotel restaurants totaled 5,200 in 2023 across 2,500 hotels
- Vegan and plant-based restaurants grew to 450 outlets in 2023
- Seafood specialist restaurants numbered 12,500 in coastal areas in 2023
- BBQ restaurants reached 8,900 outlets nationwide in 2023
- Buffet restaurants totaled 1,650 in 2023, mostly in urban centers
- Coffee-integrated restaurants numbered 22,000 in 2023
- Pho-specific restaurants exceeded 35,000 in 2023
- Family-owned restaurants comprised 65% of total at 185,000 in 2023
- New restaurant openings hit 28,500 in 2023, highest since 2019
- Franchise restaurant outlets grew to 3,800 in 2023, up 15%
- Online delivery-only virtual restaurants numbered 4,200 in 2023
- Michelin-recognized restaurants in Vietnam reached 45 in 2023
- Pop-up restaurants totaled 1,200 events in 2023
- Night market food stalls integrated as restaurants: 9,500 in 2023
- Resort-area restaurants numbered 7,800 in 2023
- Average restaurant size in urban areas was 150 sqm in 2023
- Chain restaurants expanded by 1,100 new outlets in 2023
- Closures in restaurant sector: 12,400 in 2023 due to competition
Number of Establishments Interpretation
Vietnam's restaurant scene is a frenetic feast where street stalls and family-owned pho shops hold their ground against a stampede of international chains, proving that in this culinary battle royale, the only thing expanding faster than the sector is the competition that's eating the stragglers alive.
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