Vietnam’s F&B Market focuses on sustainable growth
Conducted with Nestlé Vietnam, the report provides insights into industry performance and emerging trends, based on surveys of 4,005 restaurants and cafés, feedback from 4,453 diners, secondary data from market research firms, and interviews with nearly 100 F&B experts and business leaders.
Despite rising costs, Vietnam’s F&B sector continued to expand in 2024. (Photo: VNA)
Hanoi (VNA) – iPOS.vn and Nestlé Professi꧃onal have released the 2024 Vietnam Food and Beverage (F&B) Market Report, highlighting shifts in consumer spending habits.
Conducted with Nestlé Vietnam, the report provides insights into industry performance and emerging trends, based on surveys of 4,005 restaurants and cafés, feedback from 4,453 diners, secondary data from market research firms, and interviews with nearly 100 F&B experts and business leaders.
Despite rising costs, Vietnam’s F&B sector continued to expand in 2024. Vu Thanh Hung, CEO of iPOS.vn, noted revenue growth despite narrowing profit margins. Le Quang Long from Nestlé Professional called the sector both promising and competitive.
By late 2024, an estimated 323,010 shops had been set up, up 1.8% year-on-year, with revenue projected at 688.8 trillion VND (26.96 billion USD), a 16.6% increase. However, only 25.5% of businesses reported stable revenue, while 14.7% saw growth. To counter rising costs, 49.2% plan price increases in 2025.
Consumer spending remains steady, but diners prioritise quality at reasonable prices. Weekend dining is on the rise, with nearly 70% of consumers engaging in it occasionally or frequently.
Following a trend-driven 2023, the sector is taking a more cautious approach. The report found 52.8% of businesses are avoiding short-term food trends, focusing instead on sustainable investments.
Matcha beverages are a standout trend, with 29.6% of businesses incorporating them. In contrast, strong-flavoured teas, once popular, are losing traction, with adoption falling to 21.4%. While specialty teas such as oolong, shan tuyet, and traditional brews saw previous investment, consumer interest appears to be stabilising./.
More than 160 Vietnamese enterprises are showcasing high-quality and standard-compliant products at the THAIFEX – Anuga Asia 2024 in Thailand, which is expected to draw over 80,000 visitors from 140 countries worldwide.
Eight Vietnamese enterprises are showcasing their food and beverage products at the International Food and Drink Expo (IFE) 2024 in London, the UK from March 25 – 27.
Although most businesses believe that the food and beverage industry market will improve in the remaining months of this year, 15.4% of respondents in a recent survey of Vietnam Report think that the industry will face more difficulties.
The programmes have brought about positive changes to rural infrastructure, comprehensively improved the material and spiritual lives of farmers, and contributed to Vietnam's economic restructuring, said PM Pham Minh Chinh.
The festival highlighted the contributions and robust development of Vietnam's revolutionary press over the past century while promoting press products and showcasing the creativity of Vietnamese journalists.
The programme on sustainable poverty reduction has achieved its annual targets for reducing the poverty rate as assigned by the National Assembly and the Government. It has fulfilled five specific objectives and five five-year goals, and met nine out of 12 indicators related to addressing basic social service shortages.
UNICEF stands ready to support the Government in implementing this important law and in continuing to invest in teachers as the cornerstone of a resilient, inclusive, and high-quality education system for all children.
PM Pham Minh Chinh highlighted how Vietnam's revolutionary press has continuously evolved and strengthened over the past century, affirming its role as a sharp and vital political, cultural, and ideological weapon serving the Fatherland and the people in the glorious revolutionary cause of the Party.
Vietnamese Consul General in Fukuoka Vu Chi Mai highlighted the growing demand for Vietnamese workers in Kyushu, especially in Fukuoka, Oita, and Saga prefectures. Currently, the region employs about 35,000 Vietnamese manual workers and over 5,000 IT engineers.
In Vietnam’s case, she said, President Ho Chi Minh demonstrated his strategic vision by founding the revolutionary press a century ago. The late leader understood the press's role not only as a means to reflect the country’s realities but also as a powerful tool to strengthen national unity and inspire the resistance wars and national construction process.
In recent interviews granted to the Vietnam News Agency (VNA)'s reporters in Mexico, prominent figures reflected on the press’s legacy and its global influence.
VietnamPlus e-newspaper of the VNA clinched an A prize in the “Outstanding Press Product” category for its immersive 3D multimedia project, “Epic of Reunification,” a groundbreaking blend of storytelling and technology. The VNA won another A prize for its eye-catching exhibition booth.
Today, the press for foreign service has evolved into a distinct, irreplaceable force, bridging Vietnam with the world and portraying a nation that is stable, peace-loving, and fully integrated into the international community.
At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
During his stay in China’s Guangzhou city from 1924 to 1927 to prepare for the establishment of a Communist Party to lead Vietnam’s revolution, President Ho Chi Minh founded “Thanh nien” newspaper and released its first issue on June 21, 1925.
Vietnam and Cambodia are hoped to strengthen their robust collaboration across various sectors, particularly in resolving remaining border issues to transform the border area into a zone of peace, friendship, cooperation, and development.
The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
