Market Size of Vietnam Coffee Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 511.03 Million |
| Market Size (2029) | USD 763.46 Million |
| CAGR (2024 - 2029) | 8.13 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Coffee Market Analysis
The Vietnam Coffee Market size is estimated at USD 511.03 million in 2024, and is expected to reach USD 763.46 million by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).
Vietnam has developed a well-established culture of coffee. The country hosts several companies engaged in not only the domestic trade of coffee but also have established their presence in foreign markets. Additionally, increasing global exposure, western culture, and penetration of established coffee brands are anticipated to be the key factors that drive the expansion of coffee chains in Vietnam. At the same time, more sophisticated tastes among people in the country are expected to support the country's coffee market. Moreover, the increased acceptance of coffee is attributed to the emergence of premium stores from companies such as Highland's Coffee, Starbucks Corporation, Phuc Long, and Trung Nguyen, among others, thereby fueling the market growth. For instance, in November 2022, the Coffee House operated more than 150 outlets across Vietnam. Moreover, these outlets have ushered in an experiential element to coffee drinking by creating attractive and relaxing ambiances, which is aiding them to raise their revenues. In November 2022, The Coffee House's parent company, Seedcom, announced that the coffee chain had achieved year-on-year sales growth of 53% to reach VND 564 billion (USD 22.7 million) in the nine months ended 30 September 2022.
Furthermore, the coffee chains in the country are focused on establishing new 'upscale' store formats that are being designed to meet the increasing demand for elevated coffee and culinary experiences among Vietnamese consumers. For instance, in January 2023, Vietnamese coffee chain The Coffee House launched its new 'exclusive and upscale' coffee shop brand, SIGNATURE by The Coffee House, at the Crescent Mall shopping center in Ho Chi Minh City to cater to increasing consumer appetite for premium products and experiences across the country. Such developments happening in the country are expected to further boost the market's penetration in the country.
