In 2025, the F&B industry is forecast to maintain a growth rate of 9.6%, but faces many challenges. The explosion of new culinary trends, along with a vibrant wave of franchising and M&A, promises to reshape the market this year.

On March 18, 2025, in Ho Chi Minh City, iPOS.vn and Nestlé Professional announced the Vietnam Food and Beverage (F&B) Market Report 2024. This is an annual in-depth research project, conducted by iPOS.vn in collaboration with Nestlé Vietnam Co., Ltd., with the advice and data appraisal of Vietnam Industry Research and Consulting Joint Stock Company – VIRAC.

Catching up with the blooming trend of 2025

Looking back at the market picture of the past year, Mr. Vu Thanh Hung – General Director of iPOS.vn Joint Stock Company said that 2024 marked many significant fluctuations in the F&B market in Vietnam. “Despite facing common difficulties such as high raw material prices, the industry’s revenue still recorded growth, although profits were affected. The market still has encouraging signs when diners’ spending is at a fairly good level” – Mr. Hung assessed.

In addition, changes in consumer demand and taste are also clearly analyzed, supporting business units in the Vietnamese F&B industry to develop orientation and optimize operations in the coming time, joining hands to develop the Vietnamese F&B market more sustainably and successfully.

According to iPOS.vn, 2025 is expected to witness the explosion of new culinary trends.

Experts also predict that 2025 will be a year of high growth for F&B franchising in Vietnam. According to iPOS.vn’s forecast, one of the major driving forces comes from the wave of human resources leaving the state apparatus, who will receive significant subsidies, creating a certain source of capital for startups. In particular, the F&B industry is still one of the priority choices because this is an easy-to-penetrate field with a high success rate if operated properly. Moreover, the wave of layoffs in early 2025 in the private sector due to economic pressure will also create a large number of employees with a tendency to start a business, similar to early 2024.

In addition, the Vietnamese F&B industry also witnessed a strong wave of M&A (mergers and acquisitions) and investment from funds. Small and medium-sized chains with 10 or more points of sale will become sought-after targets if they have transparent financial records and stable cash flow.

Expected revenue of VND 755 trillion, up 9.6%
Forecasting a potential new trend in 2025, according to iPOS.vn, the F&B industry is expected to reach VND 755 trillion in revenue, up about 9.6% compared to 2024, in line with the general market trend, but at a lower level than in 2024. 2025 is expected to witness the explosion of new culinary trends.

Industry revenue increases, only 15% of businesses grow

Looking back at the market overview last year, according to the report, by the end of 2024, the number of F&B stores in Vietnam is estimated to reach 323,010 stores, up 1.8% over the same period. Despite difficulties in consumption, F&B industry revenue in Vietnam still reached about 688.8 trillion VND, up 16.6% compared to 2023.

Notably, although the industry’s overall revenue increased, according to a survey of 4,005 F&B units nationwide, only 25.5% of businesses recorded stable revenue compared to the same period in 2023 and 14.7% had growth. Under pressure from rising raw material prices, up to 49.2% of F&B businesses plan to increase prices in 2025 to cope with cost pressures.

Based on the research results of nearly 4,500 diners, the report shows that people’s spending has not decreased but will prioritize good quality options at affordable prices. Different from the trend of two years after the pandemic, 52.3% of Vietnamese people now prioritize spending less than 35,000 VND for each drink, showing a trend of optimizing budget when shopping. However, the habit of consuming drinks outside has grown strongly compared to 2023, with the rate of regular drinkers (3-4 times/week), increasing dramatically from 17.4% (2023) to 32.8% (2024).

According to Mr. Truong Van Truc – Deputy General Director of iPOS.vn, in 2024, businesses will be under pressure of increased operating costs, with a clear trend of shifting business models. Therefore, businesses in the industry need to optimize and adapt well; At the same time, improve the quality of products and services to maintain future growth.

The report also analyzes, evaluates and comments on the food and beverage business situation in 2024 through research on more than 4,000 F&B units nationwide; analyzes the consumer behavior of diners in 2024 to provide trends and forecasts for 2025 and the coming years./.

Understanding demand and shifting consumer trends is key

Mr. Le Quang Long – representative of Nestlé Professional said that the F&B market in Vietnam is always a market full of potential, but also has many challenges. The more competitive the market is, the more understanding consumer demand and trends is a key factor for success. This report is a useful tool for F&B businesses to have a deeper insight into the market. The report not only provides valuable information about the needs and behaviors of diners, but also forecasts trends and proposes suitable solutions for units to develop effective and sustainable business strategies in 2025./.