New Food market report from Euromonitor International: "Fast Food in Vietnam"
[USPRwire, Mon Nov 17 2014] During 2013, international fast food operators such as KFC, Lotteria, Burger King and Baskin-Robbins continued to further enlarge their outlet networks, especially in big cities, in order to remain competitive due to tough competition. For instance, Vietnam Lotteria increased its number of outlets strongly from 125 to 162 while KFC Vietnam increased its number of outlets from 129 to 137. This trend contributed to healthy growth within fast food in 2013.
Competitive Landscape
KFC Vietnam remained the leading player in fast food in Vietnam in 2013, recording a value share of 17% - a one percentage point increase from 2012. Long-term establishment, high quality, a good reputation, diversified menus and good services are the company’s competitive advantages. During 2013, the company not only further increased its number of outlets but also introduced new products such as Pokkits – a new sandwich product. These all helped the company reinforce its first position in Vietnamese fast food and record healthy growth of 23% in 2013.
Fast food’s projected forecast period constant 2013 price value CAGR of 6% is in-line with the review period CAGR, despite increasing maturity. Rising living standards, higher disposable incomes, increasingly busy lifestyles and the ongoing Westernisation of Vietnamese culture are the key factors which will support strong growth within fast food over the forecast period. Furthermore, the continuous efforts of fast food operators, especially leading international ones such as KFC and Lotteria, to boost demand will be another force which will help fuel growth over the forecast period. For example, operators are likely to further expand their outlet networks, introduce more dishes and improve their services. Indeed, more famous global brands are expected to join the market. McDonald's will open its first outlet in Vietnam in February 2014. As a result, fast food has a projected forecast period constant 2013 price value CAGR of 6%.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Fast Food industry in Vietnam with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Fast Food industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.
The Fast Food in Vietnam market research report includes:
* Analysis of key supply-side and demand trends
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
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