Despite difficulties, Vietnam’s F&B industry revenue in 2024 is estimated to reach VND 688,800 billion, up 16.6% compared to 2023. The number of F&B stores reached 323,010, up 1.8%.

Despite difficulties in consumption, the revenue of the F&B (food and beverage) industry in Vietnam in 2024 is estimated to reach VND 688,800 billion, an increase of 16.6% compared to 2023. The number of F&B stores is estimated to reach 323,010, an increase of 1.8% over the same period last year. 

According to the 2024 Vietnam Food and Beverage Market Report published by iPOS.vn and Nestlé Professional, despite strong industry revenue growth, only 25.5% of businesses recorded stable revenue compared to 2023, while 14.7% had growth. Faced with pressure from rising raw material prices, 49.2% of businesses plan to increase prices in 2025.

Vietnamese consumers are not reducing their spending, but are giving more priority to quality and reasonable-priced options. The trend of eating out on weekends is increasingly popular, accounting for nearly 70% of total customers. With drinks, the trend of optimizing the budget is clear when 52.3% of people spend less than 35,000 VND per dish. However, the proportion of people drinking regularly 3-4 times/week increases sharply from 17.4% in 2023 to 32.8% in 2024.

According to the report, about 52.8% of businesses in the F&B industry have stopped following short-term trends, affecting investment decisions. Meanwhile, matcha has become a new trend prioritized by 29.6% of businesses, while strong tea has gradually lost its appeal, remaining at 21.4%. Despite facing many challenges, the F&B industry in Vietnam is forecast to continue to grow by 9.6% in 2025.