Vietnamese to spend $29 billion on F&B in 2026

Vietnamese to spend $29 billion on F&B in 2026

Vietnam's food and beverage market is projected to reach 333,600 outlets with a total revenue of VND760 trillion ($29.23 billion) in 2026, according to a report by iPOS.vn and Nestlé Professional released on April 8.

The “Vietnam Food & Beverage Market Report 2025” is based on research involving over 3,000 restaurants/cafés and 3,000 diners nationwide.

In 2026, Vietnam's F&B market is forecast to maintain a stable growth rate of 4.6 per cent, shifting from rapid growth to substantive development. Rather than opening new outlets following trends, F&B companies will pursue well-structured operating models with effective cost control and clear business thinking.

In 2025, Vietnam’s F&B market experienced a slower and more stable development. By the end of 2025, the total number of F&B outlets in Vietnam was estimated at 329,500, representing a 2 per cent increase on-year.

Total F&B industry revenue in 2025 reached approximately $27.94 billion, up 5.5 per cent compared to 2024. Despite rapid development in the past, the growth rate is more limited recently, but consumer spending is not declining.

The survey shows that 65.58 per cent of companies reported stable or growing revenue compared to 2024. However, 69.38 per cent faced mounting pressure from rising raw material costs.

Meanwhile, 57.11 per cent expressed concerns over electronic invoicing, standardised tax declarations, and compliance with labour obligations. These are increasingly viewed as necessary “maturity” costs, helping to filter out unsustainable models and steer the market towards a more professional and equitable business environment.

Consumers are becoming more selective and pragmatic in their spending. They are willing to spend on worthwhile experiences rather than tightening their belts. In the beverage sector, 57.58 per cent of consumers now prefer drinks priced above $1.35, indicating the growing demand for experiences and space.

A series of food safety scandals in 2025 has led to lower consumer trust. Notably, the Halong Canfoco incident drew attention to Vietnam's F&B market last year. 54.45 per cent of consumers said the incident affected their purchasing decisions. This was followed by the Streptococcus suis infection (41.77 per cent) and bread-related food poisoning.

In the wake of these crises, Vietnamese consumers have developed a new mindset. They no longer trust flashy advertising, relying instead on what they can directly observe at the point of sale.

To rebuild trust, factors such as clean and well-maintained premises, transparent display of food safety certifications, and overall hygiene standards have become decisive benchmarks. This shift is turning operational transparency into a core competitive advantage, enabling F&B companies to recover and thrive after a crisis of confidence.

VIR