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The Dream of Building Vietnamese F&B Brands

Vietnam’s food and beverage (F&B) market is experiencing explosive growth, with foreign chains dominating the scene. Recent reports show that Vietnam has become one of the top revenue-generating markets for international corporations, making it a “goldmine” for the global F&B industry.
The Dream of Building Vietnamese F&B Brands

According to iPOS.vn, by 2024 Vietnam had over 323,000 F&B outlets, up nearly 2% from the previous year. Industry revenue reached 688 trillion VND, a 16.6% increase. Projections suggest it will hit 755 trillion VND in 2025, underscoring the sector’s strong momentum.\

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The success of foreign chains such as Haidilao, Jollibee, Highlands Coffee, and Mixue highlights their advantages in management, capital, and technology. Haidilao, for instance, earned over USD 43 million in Vietnam in just the first half of this year. Jollibee’s fried chicken sales in Vietnam grew by an impressive 35%, the highest across its global system. Highlands Coffee now operates nearly 900 stores nationwide, generating tens of millions in profit for parent company JFC. Meanwhile, Mixue has surged ahead to become Vietnam’s largest F&B chain with more than 1,300 outlets and revenue of nearly VND 1.26 trillion in 2023.

Vietnamese consumers, especially younger generations, increasingly favor brands offering standardized spaces, professional service, and consistent quality. These are precisely the factors that allow international chains to capture customer loyalty and expand rapidly.

Local brands, on the other hand, face obstacles such as limited capital, weaker management structures, slower adoption of technology, and underdeveloped branding strategies. Many lack long-term vision, scalable models, and strong brand identity, with some still using personal naming conventions that fail to create clear market positioning.

Hoang Tung, chairman of F&B Investment, argues that Vietnamese businesses must preserve their culinary identity—a natural advantage—while investing in customer experience, visual presentation, and brand storytelling. Nguyen Ky Trung, vice chairman of the Ho Chi Minh City Culinary Association, emphasizes the importance of scalable models, professional marketing, and financial strength to sustain growth.

The pressing question remains: can Vietnamese F&B brands rise to build a presence on the regional and global stage, or will the market continue to be dominated by foreign giants?

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