Vietnam’s food service market is projected to grow from US$21.92 billion in 2024 to US$54.27 billion by 2033, marking a CAGR of 9.70 percent during 2025–2033, according to a report from IMARC Group→view source.

Key details:

The market is driven by rapid urbanisation and a rising middle class, with Vietnam’s urbanisation rate expected to exceed 50 percent by 2030.
Tourism expansion supports growth, with targets of 18 million international and 130 million domestic visitors by 2025, rising to 35 million international and 160 million domestic visitors by 2030.
Foreign direct investment reached over US$13.43 billion in the first half of 2023, encouraging global food chains to enter the market and introduce new dining concepts.
Smartphone penetration stands at 87 percent and internet access at 79 percent, fuelling the rise of online ordering and food delivery services.
Health-conscious consumers are demanding more nutritious, organic, and locally sourced menu options, pushing providers to adapt.
The market is segmented by foodservice type, outlet type, and location, with regional forecasts provided through 2033.

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