According to brand–consulting firm Mibrand Vietnam (part of Media Venture Vietnam – MVV Group), the Vietnamese coffee–shop market was valued at 11.5 trillion VND in 2023, with an annual compound growth rate (CAGR) of 7.56%. Mibrand estimates there are over 500,000 coffee shops across the country—from small street stalls hidden in alleyways to upscale, modern café chains.
These include traditional street-style cafés, independent boutique brands with creative designs and high-quality drinks, and large chains rapidly expanding their networks.
A Different Count from Other Researchers
However, a separate April 2024 report, Food & Beverage Business in Vietnam 2023, produced by iPos.vn, Virac, and the F&B Insights Network, paints a different picture. By the end of 2023, it counted only 317,299 restaurants and cafés nationwide—just 1.26% growth from the previous year.
The slower-than-expected growth was attributed to a wave of closures among small and mid-sized F&B businesses and a strategic downsizing of outlets by major companies. Even so, total F&B industry revenue in 2023 climbed 11.47% to 590.9 trillion VND.
Market Trends and Major Players
Despite some big names—such as Golden Gate, Phúc Long Coffee & Tea, and Highlands Coffee—pulling out of prime locations to improve per-store profitability, small and mid-sized F&B chains grew strongly, fueled by franchising and partnership models.
Vietnam’s coffee-shop market is projected to reach USD 511.03 million in 2024 and grow to USD 763.46 million by 2029, representing a CAGR of 8.13% over 2024–2029.
Mibrand identifies five leading chains:
-
Highlands Coffee – 721 stores nationwide
-
Trung Nguyên E-Coffee – 542 stores
-
Phúc Long – 167 stores
-
The Coffee House – 150 stores
-
AHA Coffee – 130 stores
Vibrant Independent Scene
Alongside these big brands, independent cafés are thriving, continually experimenting with design and customer experience—ranging from classic and retro interiors to modern industrial styles. Concepts such as pet cafés, book cafés, and tech-themed cafés are drawing strong customer interest.
In short, while Mibrand cites a figure of more than 500,000 coffee shops, other research suggests a significantly lower count. What’s clear is that Vietnam’s café culture is booming—both in scale and creativity.