what is the size of the food industry?
If you talk about food industry of Vietnam, food Processing is one among the main industries in Vietnam which is seen as having great potential. This industry is essentially export-oriented, dominated primarily by seafood and agriculture food products. From very log time this industry has contributed significantly to maximize in export revenue, nurture business interface and enhance diplomatic relationships between Vietnam and other countries.
The size
of Food industry is anticipated to succeed in USD 65.03 billion
by 2024 growing at a CAGR of 13.05% during the forecast period (2019 - 2024).
An Entire analysis of the ‘Vietnam Food Service Market’ supported definition,
product specifications, market gains, key geographic regions and imminent
Vietnam Food industry peers which will drive key business decisions till 2023.
•
Strong economic improvement, rapid
urbanization, and constant rise in disposable incomes are the key factors that
are expected to contribute to the event of the foodservice market in Vietnam.
The country’s young generation is shifting toward modern lifestyle, and
includes a preference for socializing in places, like foodservice
establishments.
•
Expansions of market in retail sectorize.
supermarkets, hypermarkets, restaurant chains, coffee shops, and bakeries have
led to the increasing popularity of the aforementioned establishments among the
country’s youth. Branded cafés and fast food chains had strong growth over the
past few years. Meanwhile, the count of full service restaurants has gone up
considerably, with their diversified product portfolios, starting from African
to Western dishes. New entrants, like Tokyo Deli (Japanese), Gogi
(Korean-themed), and MK (Thai), are likely to accentuate the competitive
scenario within the Vietnamese foodservice market.
Key Manufacturers Covered in this Report:
•
Jollibee Food Corp.
•
Yum! Brands
•
Dunkin Brands
•
Vietnam Lotteria Company Ltd
•
Huy Vietnam
•
Starbucks Corporation
•
AFG Vietnam
•
Golden Gate JSC
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