As Vietnam faced a new wave of COVID-19 in 2021, and many major cities went through long periods of lockdown, sales in full-service restaurants plummeted, and players had to find various ways to continue operating during the government ban. Home delivery became the new standard.
Despite the gloomy performance in 2021 due to the long period of lockdown in almost all major cities, chained operators still opened new outlets. Even though delivery services became increasingly familiar to consumers, dining in is still the preferred choice for many occasions, due to the atmosphere of the restaurants and the freshness of the food.
An overwhelming majority of the full-service restaurants in the country consists of independent restaurants selling Vietnamese food, with such outlets having a presence throughout the country. However, during the lockdown, these operators were more severely impacted compared with their chained counterparts.
All categories within full-service restaurants are expected to see dynamic current value rebounds in 2022, and strong growth is set to continue over the forecast period. This is mainly because the dining experience in full-service restaurants is more difficult to replicate at home or elsewhere, making it more attractive to dine-in than other types of consumer foodservice.
Despite the growing acceptance of Western cuisines such as North American, French and Italian, Asian cuisines are still more popular, and play a crucial part in the consumer foodservice industry. Other than Vietnamese, Japanese and Korean foods are the best-known, followed by other cuisines, such as Chinese and Thai.
Golden Gate is not only by far the leader in full-service restaurants, but also leads the overall consumer foodservice industry. Its success can be attributed to many factors, including the large range of restaurants that are spread out across most major cities throughout Vietnam.
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FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).See All of Our Definitions
This report originates from Passport, our Full-Service Restaurants research and analysis database.
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