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Third-party delivery service is emerging in food delivery market
Food Delivery Service has been in business since the 20th century, especially for Chinese cuisine. Since Pizza Hut launched their delivery service in 1994, this market has become a billion-dollar business. However, as in many other sectors, the rise of digital technology is reshaping the market. Food Delivery now can be applied to any kinds of food and the emergence of 3rd party companies providing platform-to-consumer delivery services have made the market even hotter.
Vietnam is not an exception. Vietnam’s revenue in the food delivery market reached USD 146 million in 2018, according to Statista. In particular, the restaurant-to-consumer delivery reached USD 117 million, while platform-to-consumer delivery accounted for USD 32 million, and grew 46% in a year from 2017 to 2018. As a forecast for the future, the overall CAGR in the Vietnamese market from 2017 to 2023 is 28.5%. In comparison, 3rd party services are expected to be 41.6%, and further growth is predicted in the future.
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Demand for coffee increasing with the expansion of coffee chains
14-02-2016
Vietnam is the second largest coffee-exporting country (following Brazil) with its export value reached 1.65 million tons in 2014 (accounting for 14% of world’s coffee export value).
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What will happen to the fast food market when occupied by two major chains?
11-09-2015
According to Ministry of Industry and Trade’ report, annual food expense by Vietnamese has increased by 5.1% on average and is expected to reach 29.5 billion dollars (300 dollars per capita) in 2016. A survey by Canvassco on how often Vietnamese dine out in 2014 demonstrated 40% saying that they dine out everyday, 37% once a week and 13% once a month. The food service industry has become more and more competitive as Vietnamese consumption keeps increasing. Above all, fast food market draw more attention as it earned up to 1.35 trillion VND in 2014 and its CAGR is reaching 15~20% per year.
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