With an average annual growth rate of 10 per cent, Vietnam’s beverage industry is evolving into a dynamic sector, drawing in new entrants and compelling established chains to continuously innovate.Last week, the Food & Hospitality exhibition in Hanoi welcomed 180 businesses from 24 countries seeking to showcase their products and explore expansion opportunities in the Vietnamese market.According to Annie Tran, senior event manager at Informa Markets Vietnam, the unit responsible for the exhibition, the landscape in Vietnam is growing more strongly than ever.“The number of businesses attending this year’s exhibition has increased by 22 per cent compared to the 2024 edition. Of that, international exhibitors account for 70 per cent, a 5 per cent rise compared to last year,” she said. “Many of these businesses are already present in Vietnam, but there is also a significant number of foreign companies exploring the market for the first time to make decisions about expanding their operations.”“Many Chinese beverage chains have achieved some success here, such as Mixue. I hope that our iced milk tea will be well received by Vietnamese customers, especially young people and office workers who are willing to pay $2-3 for a drink,” he said.“Vietnamese customers tend to prefer sweeter and stronger-flavoured drinks, while Chinese consumers favour lighter tastes. Therefore, we will adjust the flavours of our drinks to provide the best experience for them,” Ma said.In early 2025, another premium Chinese bubble tea brand, Chagee, confirmed plans to expand into the Vietnamese market. Currently, the company is working to complete infrastructure in preparation for its official launch. Vietnam will be the fourth Southeast Asian market the brand enters, after Malaysia, Singapore, and Thailand.By the end of last year, Vietnam had approximately 323,000 operating food and beverages (F&B) stores, with a revenue of $26.9 billion, up 16.6 per cent on-year, according to a 2024 Food & Beverage Market Report published by iPOS.vn last week.Nguyen Do Anh Quan, senior brand manager at iPOS.vn, stated that Vietnam’s F&B industry would continue to maintain strong growth in 2025, with revenue from chains expected to reach $2.16 billion, an increase of 14.4 per cent compared to last year. Meanwhile, independent stores will experience slower growth, an increase of 9.3 per cent.Looking ahead, iPOS.vn projects that by 2028, F&B chain revenues could reach $3.19 billion, representing over 8 per cent of the total market.According to Mai Ho, CEO of Starbucks Vietnam, the mixology store sets itself apart by offering a curated selection of handcrafted coffee alongside an exclusive menu of expertly crafted cocktails.Currently, Starbucks operates more than 120 stores across 16 provinces and cities in Vietnam.Data from market research firm Euromonitor indicates the F&B industry grow at an annual compound growth rate of 10.2 per cent from 2023 to 2027, and market size expected to reach around $34.1 billion by 2027. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News