Vietnamese Foodservice: The Future of Foodservice in Vietnam to 2016

Oct. 11, 2012 - PRLog -- ReportReserve announces the inclusion of its new report published by Canadean.

This report provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies.

Introduction and Landscape
Why was the report written?
This report is the result of Canadean's extensive market and company research covering the Vietnamese foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and Vietnam's business environment and landscape.

What is the current market landscape and what is changing?
The Vietnamese economy is one of the fastest growing economies in the South East Asian region. Foodservice sales received a boost from the growing economy and increasing middle class population.

What are the key drivers behind recent market changes?
A higher disposable income and fast growing manufacturing and service sectors have given rise to the middle class in the economy. The country has also witnessed the growth of international fast-food chains.

What makes this report unique and essential to read?
“Vietnamese Foodservice: The Future of Foodservice in Vietnam to 2016” provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Vietnamese foodservice value chain, and for new companies considering entering the market.”

Key Features and Benefits
This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Vietnam.

This report provides readers with in depth data on the valuation and development of both the profit and cost sectors in the Vietnam's foodservice market.

This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week across nearly 50 sub-channels.

This report provides highly granular future forecasts and historic market data to aid market and strategic planning.

This report will help you to assess the impact of economic recession and recovery on foodservice market growth.

Key Market Issues
Over the review period, the obese population as a percentage of the total population of the country, increased from 0.2% in 2006 to 0.3% in 2011. The country has also experienced steady urbanization, with a rate of 3.1% in 2010. This has led to a growth in demand for healthy food, particularly amongst families with young children or facing health issues, as well as amongst the cosmopolitan and young population of the country.

The Vietnamese economy has registered a strong GDP growth over the review period. However, the country's varying rate of inflation remains a concern, as the less affluent classes are not able to afford to eat-out whenever  the rate is high, which thereby negatively impacts foodservice sales.

The small roadside pop-up restaurant outlets, which are very popular amongst the local populace, mostly serve local cuisines to their largely native customers. Traditional recipes such as Pho Noodle Soup, Banh Mi, and Spring Rolls are very popular in the country. These pop-up restaurants are not legal in Vietnam but are the most popular places to eat on-the-go.

Over the review period, the country had many foreign nationals coming in for business, tourism, and higher education which have led to an increase in the demand for ethnic food such as Indian, Japanese, Korean, Vietnamese, and recipes specific to other neighboring countries.

Foodservice operators in the country rely heavily on phone services in order to take orders for home delivery. Over the forecast period, a higher penetration of smartphones in the country may spur foodservice operators to effectively engage this channel.

Key Highlights
Over the review period, the Vietnamese economy experienced a surge in the number of households. Single member households and working couples contribute more towards quick service restaurant (QSR) sales, as it is convenient for them to eat on the move due to their fast-paced lifestyle.

Over the review period, Vietnam witnessed the large-scale urbanization and migration of people from the rural areas to the urban area. This has led to a change in lifestyle for a large proportion of the population, who have very little leisure time at hand to cook for themselves, and therefore prefer to eat out. Benefiting from the increasing trend of eating-out, many QSRs and fast-food chains have expanded rapidly in the country.

The opening of the Vietnamese economy provided people with considerable employment opportunities due to the country's urbanization. Over the review period, the country has witnessed a sizeable increase in its urban population, which has contributed to foodservice sales.

A rapidly aging population requires special nutrition, which has encouraged a change in eating habits. The growth in the demand for organic and vegan food has translated into an increasing number of vegetarian and vegan restaurants in the country.

Over the review period, the travel and tourism industry in Vietnam grew considerably, as did the country's economy and its integration with the global economy. The increasing tourism in the country provides an opportunity to the international hotel chains to expand their operations in Vietnam

For further information please visit http://www.reportreserve.com/report/vietnamese-foodservic...