Future Looks Bright for Consumer Foodservice Industry in Vietnam
by : Anna
The Consumer Foodservice in Vietnam report offers a comprehensive guide to the size and shape of the market at a national level. It provides foodservice sales, the number of outlets and the number of transactions by sector, allowing you to identify the foodservice sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they eating habits, lifestyle changes, tourism spending or legislative issues. Forecasts to 2009 illustrate how the market is set to change.
Sector coverage includes: cafes/bars, full-service restaurants, fast food, 100% home delivery/takeaway, self-service cafeterias, street stalls/kiosks.
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Data coverage: foodservice sales, number of outlets, number of transactions, company shares and brand shares
Why buy this report?
Get a detailed picture of the consumer foodservice industry
Pinpoint growth sectors and identify factors driving change
Understand the competitive environment, the market’s major players and leading brands
Use five-year forecasts to assess how the market is predicted to develop
Executive summary
1. EXECUTIVE SUMMARY
An underdeveloped consumer foodservice industry
In 2004 Vietnam had just started to open its door to the outside world, slowly allowing foreign investment which resulted in growth within the whole economy. Due to its previous closed door policy, the foodservice market continued to be underdeveloped. As Vietnam continues to develop rapidly, the foodservice industry will continue to grow strongly and steadily, over the forecast period, with the help of foreign investors.
Street stalls/kiosks giving it the local flavour
Street stalls/kiosks can be commonly found throughout Vietnam, along the road side to night markets. These are popular eating places for the locals and tourist who like to have a taste of Vietnamese life. As prices through these outlets are affordable and cheap to most consumers, these outlets are frequently visited by the locals. As a result, Vietnamese food is the main attraction for street stalls/kiosks.
Full-service restaurants have a stong foothold
Full-service restaurants is the most important sector within the foodservice industry in terms of outlet numbers and total transaction value in 2004. This is one of the most developed sectors within the foodservice industry, accounting for over 90% in terms of number of outlets and value sales and over 85% of transactions over the review period.
Local operators dominate the market
As the foodservice industry remained fairly underdeveloped, there are only a few foreign brands operating in Vietnam. The majority of the foodservice operators are local players as they have local knowledge in terms of consumers’ tastes and culture. However, the market is very fragmented, with many local independent owners managing only one or two outlets.
Forecast looks bright
The Vietnamese economy is expected to continue to stabilise and strengthen over the forecast period and therefore the prospects of the consumer foodservice industry continue to look bright. Increased foreign investments are expected to pour into Vietnam over the forecast period and the foodservice industry will benefit from this trend. Many of the big multinationals will then be looking at either partnership or a franchise relationship to bring their brands and products into Vietnam. As big brands such as McDonalds, Pizza Hut and Starbucks were not present over the review period, it will not be surprising to see them popping up in Ho Chi Minh City over the forecast period as the owners of these brands have the experience of opening up in developing countries such as China and India.
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