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Fast Food - Vietnam

Euromonitor International : Country Sector Briefing

November 2010



Fast Food Vietnam

Euromonitor International Page i

List of Contents and Tables

Headlines ................................................................................................................................................................. 1 Trends ...................................................................................................................................................................... 1

Competitive Landscape .......................................................................................................................................... 2 Prospects .................................................................................................................................................................. 2 Category Data ......................................................................................................................................................... 3

Table 1 Fast Food by Subsector: Units/Outlets 2004-2009 ............................................................ 3 Table 2 Fast Food by Subsector: Number of Transactions 2004-2009 ........................................... 4 Table 3 Fast Food by Subsector: Foodservice Value 2004-2009 ....................... ........................ ..... 5 Table 4 Fast Food by Subsector: % Units/Outlets Growth 2004-2009 ........................................... 6 Table 5 Fast Food by Subsector: % Transaction Growth 2004-2009 ............................................. 7 Table 6 Fast Food by Subsector: % Foodservice Value Growth 2004-2009 .................................. 8 Table 7 Sales of Bakery Products Fast Food by Type 2006-2009 .................................................. 8 Table 8 Global Brand Owner Shares of Chained Fast Food 2005-2009 ......................................... 9 Table 9 Brand Shares of Chained Fast Food 2006-2009 ................................................................ 9 Table 10 Forecast Sales in Fast Food by Subsector: Units/Outlets 2009-2014................................. 9 Table 11 Forecast Sales in Fast Food by Subsector: Number of Transactions 2009-

2014 ..................................................................................................................................10 Table 12 Forecast Sales in Fast Food by Subsector: Foodservice Value 2009-2014 .......................11 Table 13 Forecast Sales in Fast Food by Subsector: % Units/Outlets Growth 2009-

2014 ..................................................................................................................................12 Table 14 Forecast Sales in Fast Food by Subsector: % Transaction Growth 2009-2014 .................13 Table 15 Forecast Sales in Fast Food by Subsector: % Foodservice Value Growth

2009-2014 .........................................................................................................................13



Fast Food Vietnam

Euromonitor International Page 1

FAST FOOD IN VIETNAM

HEADLINES

• Current value sales grow by 13% in 2009 to reach almost VND6.3 trillion

• The number of fast food outlets reaches 7,000 in 2009, a 6% increase over 2008

• Through good business strategies, chained fast food’s popularity continues to increase despite the economic

crisis

• Chained burger fast food records the fastest current value sales growth of 29% in 2009

• In 2009 KFC Vietnam Co Ltd leads a fragmented category with an 11% share of value sales

• Over the forecast period, fast food sales are expected to grow by an 8% constant value CAGR

TRENDS• In 2009 the fast food category witnessed a big change in the pricing strategies of most companies. The

adding of economy menu in most fast food outlets, together with massive promotion and discountcampaigns, made fast food a more affordable meal choice for consumers. Apart from adjusting prices to

increase market penetration, fast food players paid more attention to local taste preferences and catered their

menus accordingly. Western-style fast food formats like burger or chicken either localised their food offer

or added popular local dishes like Vietnamese stewed pork.

• Most fast food companies are basing their operations on the chained business model which allows more

effective resource allocation, standardised management and led to the development of good strategies.

Thus, despite the economic crisis, fast food was less affected than other categories and an outstanding

growth performance was produced in 2009.

• Partially due to the negative impact of the economy downturn, fast food sales grew at a slower rate in

current value terms compared to 2008. This growth pattern was also due to the wider introduction of

economy menus, which resulted in slower growth in terms of sales per transaction and sales per outlet incurrent value terms in 2009. Nevertheless, fast food’s value sales growth performance remained among the

best in the consumer foodservice industry and the category registered exceptional development in terms of

outlet numbers and value sales during a period of high economic difficulty.

• Chained burger fast food recorded the fastest current value sales growth of 29% in 2009, marginally ahead

of chained chicken fast food. In 2009, chained burger fast food brands in Vietnam such as Lotteria and

Jollibee employed good strategies, such as introducing local dishes to their menus, which attracted

consumers and boosted sales. Chained chicken fast food is dominated by KFC. This is the preferred fast

food format among Vietnamese customers, largely because chicken is used in many popular dishes in the

country.

•

In terms of the number of outlets, chained chicken fast food posted the fastest growth of 34% in 2009. Dueto the higher popularity and greater acceptance of chicken fast food options among customers, it is easierfor players in this category to expand their coverage quickly. Outlet expansion has been proved to be an

effective strategy. Leading players, including KFC, spread out into newly developed cities and more remote

areas, outside of the big cities where competition is already intense.

• Independent fast food overwhelmingly dominates the outlet landscape in Vietnam. This is due to the large

presence of independent Asian fast food units, which evolved from street stalls/kiosks. Their format can be

considered a hybrid of street stalls/kiosks and full-service restaurants. Nonetheless, the popularity of chained fast food players is increasing fast, reflected in much higher growth rates in terms of transactions,

value sales and outlet numbers. Through professional management, good strategies and international

reputations, chained fast food players are making their brands well-known to local people. This provides a

strong competitive advantage over independent fast food players, which tend to operate on limited budgets

and are unable to afford the costs of brand building.



Fast Food Vietnam


• The value sales split between eat-in and take-away in fast food in Vietnam is quite unique due to the habits

of local customers. In most countries, fast food is known for convenience and speed of service with the

purpose to provide customers with a quick but nutritional meal. Thus, take-away’s sales share is normallyhigh. However, Vietnamese consumers still consider any kind of foodservice outlet, including fast food, as

a place to sit in, eat and enjoy. This is particularly the case for chained fast food players such as KFC or

Lotteria which offer pleasant decor and a comfortable and friendly ambience. Thus, customers choose to

visit these outlets not only to eat but also to spend time socialising with friends and families. Therefore, eat-

in sales accounted for a high 91% share of value sales in 2009.

COMPETITIVE LANDSCAPE

• In 2009, KFC remained the leading fast food player in terms of the number of outlets (1% share) and value

sales (11% share). Among the first chained fast food players to enter Vietnam, KFC has developed its

business strongly, building a strong brand name in the country out of its international reputation. Between

2006 and 2009, KFC has been active in developing a modern fast food category in Vietnam and its number

of outlets doubled then tripled. KFC continued to dominate chained chicken fast food with no realcompetitors in this category.

• Still a young brand in the category, Jollibee has significantly fewer outlets and a much lower value salesbase compared to big competitors. Vietnamese consumers have adapted strongly to modern and Western-

style fast food in recent years, creating good opportunities for international fast food players to grow. This

development contributed to Jollibee’s outstanding performance in 2009. The company registered the fastest

value sales growth of 46% in 2009. Apart from keeping its original burger and chicken items, Jollibeesuccessfully added familiar dishes such as chicken curry to the menu, which resulted in continuous sales

growth and increasing numbers of customers.

• While local independent fast food players mostly operate through small family-owned units with minimal

equipment and furniture, international chains have mostly chosen joint ventures as the safest way to expand

their business in the Vietnam. With a previously undeveloped legal platform for franchising as well as strict

policies issued by the government, it made sense for international companies to collaborate with a localpartner. Leading brands such as KFC, Lotteria and Jollibee all chose this strategy. The only well-known

player which chose to develop its business via the franchising model is the local chained Asian fast foodcompany, Nam An Group, the owner of the Pho 24 brand. Its franchised business helped to grow Pho 24’s

outlet numbers as quick as would have been the case via a joint venture, yielding significant success for this

local company.

• The food and drink offerings in the fast food category are becoming more sophisticated as companies pay

more attention to the tastes and demands of local consumers. The most notable trend may be the increasing

presence of economy or value menus, which offer assorted food items for a significantly lower price than

the original set meal offer. This strategy is aimed at reaching out to a wider consumer group and it makes

modern fast food options, which are sometimes considered too expensive, more affordable to most

consumers. In addition, local dishes are being introduced to menus in an attempt to attract more customers.For example, Jollibee offered two new dishes, stewed pork with eggs and chicken curry, both served with

rice. Regarding beverages and side dishes, players are also looking to offer new and interesting items such

as cola carbonates with floating ice cream by Jollibee or KFC’s egg tart, which has been a surprisingly big

success.

• Domestic players continue to dominate in terms of outlet numbers. Generally, local players have good

market knowledge and they understand local customers’ tastes and habits. They also offer familiartraditional meals which are easily accepted by all Vietnamese consumers. However, international fast food

companies are developing in a more dynamic way and showing more promising growth rates. Local

consumers are adapting to Western-style fast food and enjoying higher personal income, enabling them to

afford the luxury of fast food. Moreover, foreign players have huge resources to carry out massive

marketing and PR activities, which help to create or boost brand reputations and attract more customers,

thereby accelerating their pace of expansion and market coverage.

PROSPECTS



Fast Food Vietnam


• Because of the continuous change in local consumers’ eating and drinking habits, influenced by Western

and modern cuisines, as well as much improved personal incomes and company development, the fast food

category in Vietnam is expected to continue to flourish over the forecast period. A more welcome policyand legal regulations for franchising will provide players with more freedom and options to expand their

businesses. This will create big opportunities for chained fast food players, both international and local, to

grow more strongly and build-up their positions in the category and industry as a whole.

• Over the forecast period, fast food sales are expected to grow strongly, by an 8% constant value CAGR, as

industry conditions are favourable. However, companies are likely to run risks and experience difficulties,

especially when turning away from the traditional joint venture method of penetration to franchising toexpand their businesses.

• One potential threat to growth is that once consumers have adapted to modern fast food items and modern

ways of serving, they will quickly become bored by standardised dishes which may lack variety. Fast food

players, therefore, should try to constantly develop and introduce new items and seasonal dishes to satisfy

the quick changing demands of consumers.

• Chained chicken fast food sales are expected to increase by a 21% constant value CAGR, to record the

highest growth over the forecast period. This is the preferred modern fast food type in Vietnam, while the

burger and other Western-style fast food offerings remain strange tastes to local consumers. Thus, it will

take time for people to become familiar with such items. KFC, the leading brand in chicken fast food and

fast food overall, is anticipated to exploit various competitive advantages such as brand awareness and

strong market coverage to maintain its position.

• As the competition between fast food players intensifies, companies are likely to employ various strategies

to strengthen their positions. Maintaining growth in terms of outlet numbers is expected to be a key strategy

because wider coverage offers greater opportunities to penetrate new areas and consumer bases and boost

sales. While more units could result in lower average sales per outlet, most chained fast food players will

continue to employ outlet expansion as one of their foremost development strategies. Besides, marketing

and PR activities are expected to play a more active role in the short term. At the end of the review period,only KFC used television advertisements. However, more players are expected to develop attractive

advertisements through various public media channels to improve their brand awareness and reputation and

lure new customers.

CATEGORY DATA

Table 1 Fast Food by Subsector: Units/Outlets 2004-2009

outlets2004 2005 2006 2007 2008 2009

Chained Fast Food 33 56 96 150 203 253Independent Fast Food 4,682 5,061 5,488 5,893 6,264 6,572Asian Fast Food 3,612 3,941 4,245 4,531 4,794 5,017- Chained Asian Fast Food 6 17 42 62 75 88- Independent Asian 3,606 3,924 4,203 4,469 4,719 4,929

Fast FoodBakery Products Fast Food 140 175 200 220 239 249- Chained Bakery - - - - - -

Products Fast Food- Independent Bakery 140 175 200 220 239 249

Products Fast FoodBurger Fast Food 20 28 41 65 91 110- Chained Burger Fast 12 19 26 44 64 79

Food- Independent Burger 8 9 15 21 27 31

Fast FoodChicken Fast Food 22 30 40 65 100 131- Chained Chicken Fast 15 20 28 44 64 86

Food- Independent Chicken 7 10 12 21 36 45

Fast Food



Fast Food Vietnam


Convenience Stores Fast - - - - - -Food

- Chained Convenience - - - - - -Stores Fast Food

- Independent - - - - - -Convenience Stores Fast

FoodFish Fast Food - - - - - -- Chained Fish Fast Food - - - - - -- Independent Fish Fast - - - - - -

FoodIce Cream Fast Food 921 943 1,058 1,162 1,243 1,318- Chained Ice Cream - - - - - -

Fast Food- Independent Ice Cream 921 943 1,058 1,162 1,243 1,318

Fast FoodLatin American Fast Food - - - - - -- Chained Latin - - - - - -

American Fast Food- Independent Latin - - - - - -

American Fast FoodMiddle Eastern Fast Food - - - - - -- Chained Middle - - - - - -

Eastern Fast Food- Independent Middle - - - - - -

Eastern Fast FoodPizza Fast Food - - - - - -- Chained Pizza Fast Food - - - - - -- Independent Pizza - - - - - -

Fast FoodOther Fast Food - - - - - -- Chained Other Fast Food - - - - - -- Independent Other - - - - - -

Fast FoodFast Casual Dining - - - - - -

Fast Food 4,715 5,117 5,584 6,043 6,467 6,825Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,

Euromonitor International estimates

Table 2 Fast Food by Subsector: Number of Transactions 2004-2009

'000 transactions2004 2005 2006 2007 2008 2009

Chained Fast Food 3,375.4 5,618.3 9,596.9 15,145.2 21,237.9 26,936.7Independent Fast Food 194,219.5 213,087.2 231,865.7 248,868.2 267,641.3 283,970.6Asian Fast Food 124,803.0 140,751.0 152,268.0 162,121.5 172,614.5 182,030.0

- Chained Asian Fast Food 415.2 1,243.6 3,382.6 4,972.4 6,036.5 7,123.1- Independent Asian 124,387.8 139,507.4 148,885.4 157,149.1 166,578.0 174,906.9Fast Food

Bakery Products Fast Food 2,898.0 3,742.0 4,677.5 5,613.0 6,623.3 7,351.9- Chained Bakery - - - - - -

Products Fast Food- Independent Bakery 2,898.0 3,742.0 4,677.5 5,613.0 6,623.3 7,351.9

Products Fast FoodBurger Fast Food 894.0 1,374.9 1,895.8 3,150.8 4,575.7 5,702.2- Chained Burger Fast 726.0 1,179.9 1,652.1 2,841.3 4,204.2 5,297.3

Food- Independent Burger 168.0 195.0 243.8 309.6 371.5 404.9

Fast FoodChicken Fast Food 2,564.9 3,687.6 5,173.2 8,248.0 12,463.7 16,276.1- Chained Chicken Fast 2,234.2 3,194.8 4,562.2 7,331.5 10,997.3 14,516.4

Food- Independent Chicken 330.7 492.8 611.0 916.5 1,466.4 1,759.7



Fast Food Vietnam


Fast FoodConvenience Stores Fast - - - - - -

Food- Chained Convenience - - - - - -

Stores Fast Food- Independent - - - - - -

Convenience Stores FastFood

Fish Fast Food - - - - - -- Chained Fish Fast Food - - - - - -- Independent Fish Fast - - - - - -

FoodIce Cream Fast Food 66,435.0 69,150.0 77,448.0 84,880.0 92,602.0 99,547.2- Chained Ice Cream - - - - - -

Fast Food- Independent Ice Cream 66,435.0 69,150.0 77,448.0 84,880.0 92,602.0 99,547.2







Fast Food

Fast Casual Dining - - - - - -Fast Food 197,594.9 218,705.4 241,462.5 264,013.3 288,879.2 310,907.3Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,


Table 3 Fast Food by Subsector: Foodservice Value 2004-2009

VND billion2004 2005 2006 2007 2008 2009

Chained Fast Food 152.3 258.8 444.7 737.8 1,080.7 1,361.8Independent Fast Food 2,733.2 3,079.2 3,479.3 3,957.6 4,481.0 4,935.8

Asian Fast Food 1,419.9 1,647.0 1,852.2 2,127.3 2,388.5 2,645.6- Chained Asian Fast Food 16.8 52.6 146.2 238.3 301.2 359.9- Independent Asian 1,403.2 1,594.5 1,706.0 1,889.0 2,087.3 2,285.6

Fast FoodBakery Products Fast Food 56.3 80.3 108.3 137.6 172.0 197.8- Chained Bakery - - - - - -

Products Fast Food- Independent Bakery 56.3 80.3 108.3 137.6 172.0 197.8

Products Fast FoodBurger Fast Food 41.0 64.2 89.8 151.1 227.5 289.4- Chained Burger Fast 33.0 54.4 76.9 133.9 205.4 264.1


Fast FoodChicken Fast Food 109.6 163.5 241.8 399.0 628.4 805.1

- Chained Chicken Fast 102.6 151.8 221.6 365.7 574.1 737.8Food



Fast Food Vietnam


- Independent Chicken 7.1 11.7 20.2 33.3 54.3 67.3Fast Food

Convenience Stores Fast - - - - - -Food


- Independent - - - - - -Convenience Stores FastFood










Fast FoodFast Casual Dining - - - - - -Fast Food 2,885.5 3,338.0 3,924.1 4,695.4 5,561.7 6,297.6Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,


Table 4 Fast Food by Subsector: % Units/Outlets Growth 2004-2009

% Units/Outlets growth2008/09 2004-09 CAGR 2004/09 TOTAL

Chained Fast Food 24.6 50.3 666.7

Independent Fast Food 4.9 7.0 40.4Asian Fast Food 4.7 6.8 38.9- Chained Asian Fast Food 17.3 71.1 1,366.7- Independent Asian Fast Food 4.5 6.5 36.7Bakery Products Fast Food 4.2 12.2 77.9- Chained Bakery Products Fast Food - - -- Independent Bakery Products Fast Food 4.2 12.2 77.9Burger Fast Food 20.9 40.6 450.0- Chained Burger Fast Food 23.4 45.8 558.3- Independent Burger Fast Food 14.8 31.1 287.5Chicken Fast Food 31.0 42.9 495.5- Chained Chicken Fast Food 34.4 41.8 473.3- Independent Chicken Fast Food 25.0 45.1 542.9Convenience Stores Fast Food - - -- Chained Convenience Stores Fast Food - - -

- Independent Convenience Stores Fast - - -Food



Fast Food Vietnam


Fish Fast Food - - -- Chained Fish Fast Food - - -- Independent Fish Fast Food - - -Ice Cream Fast Food 6.0 7.4 43.1- Chained Ice Cream Fast Food - - -- Independent Ice Cream Fast Food 6.0 7.4 43.1

Latin American Fast Food - - -- Chained Latin American Fast Food - - -- Independent Latin American Fast Food - - -Middle Eastern Fast Food - - -- Chained Middle Eastern Fast Food - - -- Independent Middle Eastern Fast Food - - -Pizza Fast Food - - -- Chained Pizza Fast Food - - -- Independent Pizza Fast Food - - -Other Fast Food - - -- Chained Other Fast Food - - -- Independent Other Fast Food - - -Fast Casual Dining - - -Fast Food 5.5 7.7 44.8Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,


Table 5 Fast Food by Subsector: % Transaction Growth 2004-2009

% transaction growth2008/09 2004-09 CAGR 2004/09 TOTAL

Chained Fast Food 26.8 51.5 698.0Independent Fast Food 6.1 7.9 46.2Asian Fast Food 5.5 7.8 45.9- Chained Asian Fast Food 18.0 76.6 1,615.5- Independent Asian Fast Food 5.0 7.1 40.6

Bakery Products Fast Food 11.0 20.5 153.7- Chained Bakery Products Fast Food - - -- Independent Bakery Products Fast Food 11.0 20.5 153.7Burger Fast Food 24.6 44.9 537.8- Chained Burger Fast Food 26.0 48.8 629.7- Independent Burger Fast Food 9.0 19.2 141.0Chicken Fast Food 30.6 44.7 534.6- Chained Chicken Fast Food 32.0 45.4 549.7- Independent Chicken Fast Food 20.0 39.7 432.1Convenience Stores Fast Food - - -- Chained Convenience Stores Fast Food - - -- Independent Convenience Stores Fast - - -

FoodFish Fast Food - - -

- Chained Fish Fast Food - - -- Independent Fish Fast Food - - -Ice Cream Fast Food 7.5 8.4 49.8- Chained Ice Cream Fast Food - - -- Independent Ice Cream Fast Food 7.5 8.4 49.8Latin American Fast Food - - -- Chained Latin American Fast Food - - -- Independent Latin American Fast Food - - -Middle Eastern Fast Food - - -- Chained Middle Eastern Fast Food - - -- Independent Middle Eastern Fast Food - - -Pizza Fast Food - - -- Chained Pizza Fast Food - - -- Independent Pizza Fast Food - - -Other Fast Food - - -

- Chained Other Fast Food - - -- Independent Other Fast Food - - -



Fast Food Vietnam


Fast Casual Dining - - -Fast Food 7.6 9.5 57.3Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,


Table 6 Fast Food by Subsector: % Foodservice Value Growth 2004-2009

% value growth2008/09 2004-09 CAGR 2004/09 TOTAL

Chained Fast Food 26.0 55.0 794.1Independent Fast Food 10.2 12.5 80.6Asian Fast Food 10.8 13.3 86.3- Chained Asian Fast Food 19.5 84.7 2,048.5- Independent Asian Fast Food 9.5 10.3 62.9Bakery Products Fast Food 15.0 28.6 251.4- Chained Bakery Products Fast Food - - -- Independent Bakery Products Fast Food 15.0 28.6 251.4Burger Fast Food 27.2 47.8 605.2- Chained Burger Fast Food 28.6 51.6 700.8- Independent Burger Fast Food 14.5 25.7 214.2Chicken Fast Food 28.1 49.0 634.3- Chained Chicken Fast Food 28.5 48.4 619.3- Independent Chicken Fast Food 24.0 56.9 852.2Convenience Stores Fast Food - - -- Chained Convenience Stores Fast Food - - -- Independent Convenience Stores Fast - - -

FoodFish Fast Food - - -- Chained Fish Fast Food - - -- Independent Fish Fast Food - - -Ice Cream Fast Food 10.0 13.4 87.5- Chained Ice Cream Fast Food - - -

- Independent Ice Cream Fast Food 10.0 13.4 87.5Latin American Fast Food - - -- Chained Latin American Fast Food - - -- Independent Latin American Fast Food - - -Middle Eastern Fast Food - - -- Chained Middle Eastern Fast Food - - -- Independent Middle Eastern Fast Food - - -Pizza Fast Food - - -- Chained Pizza Fast Food - - -- Independent Pizza Fast Food - - -Other Fast Food - - -- Chained Other Fast Food - - -- Independent Other Fast Food - - -Fast Casual Dining - - -

Fast Food 13.2 16.9 118.3Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,Euromonitor International estimates

Table 7 Sales of Bakery Products Fast Food by Type 2006-2009

% value2006 2007 2008 2009

Sandwich Specialists 65.0 60.0 59.4 59.0Sweet Bakery Goods Specialists 20.0 25.0 25.9 26.0Other Including Mixed Bakery 15.0 15.0 14.6 15.0

Fast Food

Total 100.0 100.0 100.0 100.0Source: Official statistics, trade associations, trade press, company research, store checks, trade interviews,




Fast Food Vietnam


Table 8 Global Brand Owner Shares of Chained Fast Food 2005-2009

% value

Company 2005 2006 2007 2008 2009

Yum! Brands Inc 52.5 46.1 47.2 51.5 50.2Nam An Group 20.3 31.1 29.3 24.4 22.8Lotte Group 18.1 14.3 15.5 16.1 16.1Jollibee Foods Corp 2.9 3.0 2.7 2.9 3.3Tricon Global - - - - -

Restaurants IncOthers 6.1 5.5 5.3 5.2 7.6Total 100.0 100.0 100.0 100.0 100.0Source: Trade associations, trade press, company research, trade interviews, Euromonitor International estimates

Table 9 Brand Shares of Chained Fast Food 2006-2009

% valueBrand Global Brand Owner 2006 2007 2008 2009

KFC KFC Vietnam Co Ltd 46.1 47.2 51.5 50.2Pho 24 Nam An Group 31.1 29.3 24.4 22.8Lotteria Vietnam Lotteria Co Ltd 14.3 15.5 16.1 16.1Jollibee Jollibee Vietnam Co Ltd 3.0 2.7 2.9 3.3Others 5.5 5.3 5.2 7.6Total 100.0 100.0 100.0 100.0Source: Trade associations, trade press, company research, trade interviews, Euromonitor International estimates

Table 10 Forecast Sales in Fast Food by Subsector: Units/Outlets 2009-2014

outlets2009 2010 2011 2012 2013 2014

Chained Fast Food 253 307 365 429 499 576Independent Fast Food 6,572 6,865 7,139 7,383 7,596 7,769Asian Fast Food 5,017 5,231 5,437 5,626 5,798 5,944- Chained Asian Fast Food 88 102 118 137 159 185- Independent Asian 4,929 5,129 5,319 5,489 5,639 5,759

Fast FoodBakery Products Fast Food 249 261 275 290 306 323- Chained Bakery - - - - - -

Products Fast Food

- Independent Bakery 249 261 275 290 306 323Products Fast FoodBurger Fast Food 110 129 149 171 194 219- Chained Burger Fast 79 95 112 131 152 175

Food- Independent Burger 31 34 37 40 42 44

Fast FoodChicken Fast Food 131 163 195 227 259 291- Chained Chicken Fast 86 110 135 161 188 216

Food- Independent Chicken 45 53 60 66 71 75






Fast Food Vietnam




Food

Ice Cream Fast Food 1,318 1,388 1,448 1,498 1,538 1,568- Chained Ice Cream - - - - - -

Fast Food- Independent Ice Cream 1,318 1,388 1,448 1,498 1,538 1,568







Fast FoodFast Casual Dining - - - - - -Fast Food 6,825 7,172 7,504 7,812 8,095 8,345Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

Table 11 Forecast Sales in Fast Food by Subsector: Number of Transactions 2009-2014

'000 transactions2009 2010 2011 2012 2013 2014

Chained Fast Food 26,936.7 32,963.1 39,444.8 46,455.0 54,101.4 62,513.2Independent Fast Food 283,970.6 299,242.3 313,247.4 325,714.2 336,439.0 343,611.9Asian Fast Food 182,030.0 191,040.5 199,715.0 208,004.5 215,877.7 222,312.6- Chained Asian Fast Food 7,123.1 8,262.7 9,626.1 11,262.5 13,233.5 15,615.5- Independent Asian 174,906.9 182,777.8 190,088.9 196,742.0 202,644.2 206,697.1

Fast FoodBakery Products Fast Food 7,351.9 8,013.6 8,654.7 9,260.5 9,862.4 10,454.2- Chained Bakery - - - - - -

Products Fast Food- Independent Bakery 7,351.9 8,013.6 8,654.7 9,260.5 9,862.4 10,454.2Products Fast Food

Burger Fast Food 5,702.2 6,836.9 8,044.1 9,393.5 10,877.8 12,498.9- Chained Burger Fast 5,297.3 6,409.7 7,595.5 8,924.7 10,397.3 12,008.9


Fast FoodChicken Fast Food 16,276.1 20,296.7 24,429.8 28,628.9 32,949.7 37,467.1- Chained Chicken Fast 14,516.4 18,290.6 22,223.1 26,267.7 30,470.6 34,888.8

Food- Independent Chicken 1,759.7 2,006.0 2,206.6 2,361.1 2,479.2 2,578.3


Food




Fast Food Vietnam


- Independent - - - - - -Convenience Stores FastFood










Fast FoodFast Casual Dining - - - - - -Fast Food 310,907.3 332,205.4 352,692.2 372,169.2 390,540.4 406,125.1Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

Table 12 Forecast Sales in Fast Food by Subsector: Foodservice Value 2009-2014

VND billion2009 2010 2011 2012 2013 2014

Chained Fast Food 1,361.8 1,669.5 2,007.3 2,373.8 2,778.4 3,233.7Independent Fast Food 4,935.8 5,244.0 5,505.8 5,712.5 5,868.7 5,970.8Asian Fast Food 2,645.6 2,810.2 2,965.7 3,111.1 3,259.1 3,398.4- Chained Asian Fast Food 359.9 410.3 469.8 540.3 624.0 723.9- Independent Asian 2,285.6 2,399.9 2,495.9 2,570.8 2,635.1 2,674.6

Fast FoodBakery Products Fast Food 197.8 212.6 227.5 242.3 256.8 271.0

- Chained Bakery - - - - - -Products Fast Food- Independent Bakery 197.8 212.6 227.5 242.3 256.8 271.0

Products Fast FoodBurger Fast Food 289.4 349.9 415.0 488.3 569.5 659.1- Chained Burger Fast 264.1 322.2 385.0 456.3 536.1 624.6


Fast FoodChicken Fast Food 805.1 1,015.8 1,241.1 1,474.3 1,722.1 1,993.7- Chained Chicken Fast 737.8 937.0 1,152.5 1,377.2 1,618.2 1,885.2

Food- Independent Chicken 67.3 78.8 88.6 97.0 103.8 108.5





Fast Food Vietnam




Fish Fast Food - - - - - -- Chained Fish Fast Food - - - - - -

- Independent Fish Fast - - - - - -Food

Ice Cream Fast Food 2,359.8 2,524.9 2,663.8 2,770.4 2,839.6 2,882.2- Chained Ice Cream - - - - - -








Fast FoodFast Casual Dining - - - - - -Fast Food 6,297.6 6,913.5 7,513.1 8,086.3 8,647.0 9,204.4Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

Table 13 Forecast Sales in Fast Food by Subsector: % Units/Outlets Growth 2009-2014

% Units/Outlets growth2009-14 CAGR 2009/14 TOTAL

Chained Fast Food 17.9 127.7Independent Fast Food 3.4 18.2Asian Fast Food 3.4 18.5- Chained Asian Fast Food 16.0 110.2- Independent Asian Fast Food 3.2 16.8Bakery Products Fast Food 5.3 29.7

- Chained Bakery Products Fast Food - -- Independent Bakery Products Fast Food 5.3 29.7Burger Fast Food 14.8 99.1- Chained Burger Fast Food 17.2 121.5- Independent Burger Fast Food 7.3 41.9Chicken Fast Food 17.3 122.1- Chained Chicken Fast Food 20.2 151.2- Independent Chicken Fast Food 10.8 66.7Convenience Stores Fast Food - -- Chained Convenience Stores Fast Food - -- Independent Convenience Stores Fast Food - -Fish Fast Food - -- Chained Fish Fast Food - -- Independent Fish Fast Food - -Ice Cream Fast Food 3.5 19.0

- Chained Ice Cream Fast Food - -- Independent Ice Cream Fast Food 3.5 19.0



Fast Food Vietnam


Latin American Fast Food - -- Chained Latin American Fast Food - -- Independent Latin American Fast Food - -Middle Eastern Fast Food - -- Chained Middle Eastern Fast Food - -- Independent Middle Eastern Fast Food - -

Pizza Fast Food - -- Chained Pizza Fast Food - -- Independent Pizza Fast Food - -Other Fast Food - -- Chained Other Fast Food - -- Independent Other Fast Food - -Fast Casual Dining - -Fast Food 4.1 22.3Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

Table 14 Forecast Sales in Fast Food by Subsector: % Transaction Growth 2009-2014

% transaction growth2009-14 CAGR 2009/14 TOTAL

Chained Fast Food 18.3 132.1Independent Fast Food 3.9 21.0Asian Fast Food 4.1 22.1- Chained Asian Fast Food 17.0 119.2- Independent Asian Fast Food 3.4 18.2Bakery Products Fast Food 7.3 42.2- Chained Bakery Products Fast Food - -- Independent Bakery Products Fast Food 7.3 42.2Burger Fast Food 17.0 119.2- Chained Burger Fast Food 17.8 126.7- Independent Burger Fast Food 3.9 21.0

Chicken Fast Food 18.1 130.2- Chained Chicken Fast Food 19.2 140.3- Independent Chicken Fast Food 7.9 46.5Convenience Stores Fast Food - -- Chained Convenience Stores Fast Food - -- Independent Convenience Stores Fast Food - -Fish Fast Food - -- Chained Fish Fast Food - -- Independent Fish Fast Food - -Ice Cream Fast Food 4.4 24.0- Chained Ice Cream Fast Food - -- Independent Ice Cream Fast Food 4.4 24.0Latin American Fast Food - -- Chained Latin American Fast Food - -

- Independent Latin American Fast Food - -Middle Eastern Fast Food - -- Chained Middle Eastern Fast Food - -- Independent Middle Eastern Fast Food - -Pizza Fast Food - -- Chained Pizza Fast Food - -- Independent Pizza Fast Food - -Other Fast Food - -- Chained Other Fast Food - -- Independent Other Fast Food - -Fast Casual Dining - -Fast Food 5.5 30.6Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

Table 15 Forecast Sales in Fast Food by Subsector: % Foodservice Value Growth 2009-2014



Fast Food Vietnam


% value growth2009-14 CAGR 2009/14 TOTAL

Chained Fast Food 18.9 137.5Independent Fast Food 3.9 21.0

Asian Fast Food 5.1 28.5- Chained Asian Fast Food 15.0 101.1- Independent Asian Fast Food 3.2 17.0Bakery Products Fast Food 6.5 37.0- Chained Bakery Products Fast Food - -- Independent Bakery Products Fast Food 6.5 37.0Burger Fast Food 17.9 127.7- Chained Burger Fast Food 18.8 136.5- Independent Burger Fast Food 6.4 36.2Chicken Fast Food 19.9 147.6- Chained Chicken Fast Food 20.6 155.5- Independent Chicken Fast Food 10.0 61.2Convenience Stores Fast Food - -- Chained Convenience Stores Fast Food - -

- Independent Convenience Stores Fast Food - -Fish Fast Food - -- Chained Fish Fast Food - -- Independent Fish Fast Food - -Ice Cream Fast Food 4.1 22.1- Chained Ice Cream Fast Food - -- Independent Ice Cream Fast Food 4.1 22.1Latin American Fast Food - -- Chained Latin American Fast Food - -- Independent Latin American Fast Food - -Middle Eastern Fast Food - -- Chained Middle Eastern Fast Food - -- Independent Middle Eastern Fast Food - -Pizza Fast Food - -- Chained Pizza Fast Food - -

- Independent Pizza Fast Food - -Other Fast Food - -- Chained Other Fast Food - -- Independent Other Fast Food - -Fast Casual Dining - -Fast Food 7.9 46.2Source: Official statistics, trade associations, trade press, company research, trade interviews, Euromonitor International

estimates

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