In 2021, traditional grocery retailers accounted for ** percent of the total grocery retail sales in Vietnam. In that year, the grocery retail sales in the country reached a value of **** billion U.S. dollars. Though accounting for over ten percent of the total grocery sales, modern retailers such as supermarkets, hypermarkets, and convenience stores have observed an increase in sales in recent years.

Vietnam online grocery market size reached USD 2.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 16.3 Billion by 2033, exhibiting a growth rate (CAGR) of 21.41% during 2025-2033. The increasing internet penetration and smartphone usage, the sudden outbreak of COVID-19 pandemic, rapid urbanization and hectic work schedules, and increasing disposable income particularly among the middle-class population represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, business model, platform, and purchase type.

Market Size, Revenue, Share, Major Players, Segmentation, and Future Outlook Across Key Sectors Base Year : 2024

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Vietnam Retail Market Size 2025-2029

The Vietnam retail market size is forecast to increase by USD 278.7 billion, at a CAGR of 14.7% between 2024 and 2029. The Vietnam Retail Market is segmented by distribution channel (Offline, Online), type (Grocery, Electronics and Appliances, Home and Garden, Health and Beauty, Others), channel (Cash, Digital Payment, Buy Now Pay Later (BNPL)), store type (Supermarkets, Convenience Stores, Online, Specialty Stores), consumer segment (Urban Middle Class, Rural Consumers, Young Shoppers), and geography (APAC: Vietnam). This segmentation reflects the market's diversity, driven by strong demand for Grocery and Health and Beauty products among Urban Middle Class and Young Shoppers, growing Online channels with Digital Payment and BNPL options, and the dominance of Supermarkets and Convenience Stores for Offline purchases catering to both Rural Consumers and urban preferences across Vietnam in the APAC region.

Major Market Trends & Insights

Based on the Distribution Channel, the offline segment led the market and was valued at USD 212.20 billion of the global revenue in 2023.
Based on the Type, the Grocery segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 299.79 Billion
Future Opportunities: USD 278.7 Billion
CAGR (2024-2029): 14.7%

The market is experiencing significant growth, driven primarily by the increasing demand for convenience food products. This trend is closely linked to the emergence of urban lifestyles, as more consumers in Vietnam's cities seek out quick and easy meal solutions. However, this growth comes with challenges. Logistical and supply chain issues persist, posing significant obstacles for retailers looking to meet the surging demand for convenience foods. Efficiently managing the distribution and delivery of these products is essential for companies aiming to capitalize on this market opportunity and maintain a competitive edge. Navigating these challenges requires strategic planning and innovative solutions to ensure the timely and cost-effective delivery of convenience food products to consumers in Vietnam's urban areas. Companies that can effectively address these logistical hurdles will be well-positioned to thrive in this dynamic and expanding market.

What will be the size of the Vietnam Retail Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In Vietnam's dynamic retail market, pricing optimization plays a crucial role in staying competitive. Consumer spending habits continue to shape the industry, with franchise models adapting to local preferences. Sustainability initiatives and compliance standards are increasingly important, driving retailers to prioritize environmental impact and social responsibility. Merchandising strategies and sales forecasting help businesses optimize profit margins and performance metrics, while product recall procedures and food safety regulations ensure customer satisfaction and protect against product liability. E-commerce fraud and intellectual property rights pose challenges, necessitating robust risk management and business intelligence. Sales data analysis and employee training are essential for addressing inventory shrinkage and supply chain disruptions. The grocery segment is the second largest segment of the type and was valued at USD 101.20 billion in 2023.
Competitor mapping and store security systems are crucial for market penetration and maintaining regulatory compliance. Consumer confidence is influenced by economic indicators, with private label brands gaining popularity. Retailers must navigate complex import/export regulations and adhere to consumer protection laws. Adopting a proactive approach to corporate governance and regulations compliance is vital for long-term success. Market trends include a focus on food safety, sustainability, and digital transformation. Retailers must balance these priorities with managing their workforce, implementing merchandising strategies, and addressing product liability concerns. Effective risk management and supply chain resilience are essential for mitigating the impact of potential crises.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Type

  Grocery
  Electronics and appliances
  Home and garden
  Health and beauty
  Others


Channel

  Cash
  Digital payment
  Buy now pay later (BNPL)


Store Type

  Supermarkets
  Convenience Stores
  Online
  Specialty Stores


Consumer Segment

  Urban Middle Class
  Rural Consumers

In 2020, the market size of the online food delivery industry in Vietnam amounted to around *** million U.S. dollars, indicating an increase from the previous year due to the impact of the COVID-19 pandemic. This industry was forecast to continue to grow in the following years, reaching the forecast market size of *** billion U.S. dollars by 2025.

The Vietnam Foodservice Market Report Segments the Industry Into Foodservice Type (Café and Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), Outlet (Chained Outlets, Independent Outlets), Location (Leisure, Lodging, Retail, Standalone, Travel), and Service Type (Dine-In, Takeaway, and Delivery). The Market Forecasts are Provided in Terms of Value (USD).

The Vietnam Supermarket Chain Market is size at USD 246 billion in 2023, driven by growth opportunities, market analysis, and strategic insights. Explore key players and future outlook.

According to a report published by Q&Me, as of March 2023, Co.opmart was the leading supermarket chain in Vietnam with *** stores, followed by WinMart with *** outlets. Co.opmart is one of the largest Vietnamese retail supermarket chains managed by Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op). The retail giant Co.opmart Vietnam's retail industry has witnessed significant growth in recent years, with over *** supermarkets across the country, primarily concentrated in major cities such as Hanoi and Ho Chi Minh City. Founded in 1996, Coop Mart has emerged as one of the largest hypermarket chains in the country. With over *** stores nationwide (including Co.opXtra and Co.opXtraplus), Coop Mart offers a diverse range of products at competitive prices. The chain also focuses on promoting local products, thus supporting Vietnamese farmers and manufacturers. In addition, they also own and operate Co.opFood convenience stores, Co.opSmile modern grocery stores, and the 24-hour convenience store Cheers. Competitor WinMart Established by VinCommerce JSC, a subsidiary of Vietnam's largest conglomerate VinGroup, supermarket chain VinMart has been under the management of the FMCG corporation Masan Group since 2019. As of the first quarter of 2022, Masan Group completed its rebranding of VinMart, officially changing VinMart/VinMart+ to WinMart/WinMart+. WinMart is a chain of supermarkets focusing on providing high-quality products, including imported goods, to cater to the growing demand for international brands in Vietnam. Meanwhile, WinMart+ is positioned as a convenience store chain model, offering a quick and hassle-free shopping experience to meet the daily needs of consumers. As of the first quarter of 2023, WinMart+ ranked first among the leading convenience store brands in Vietnam, with over ***** outlets across the country.

The revenue in the food market in Vietnam was modeled to be ************* U.S. dollars in 2024. Following a continuous upward trend, the revenue has risen by ************* U.S. dollars since 2018. Between 2024 and 2030, the revenue will rise by ************* U.S. dollars, continuing its consistent upward trajectory.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Food.

The Vietnam Retail Market Report is Segmented by Product Type (Food, Beverage, and Tobacco Products, Personal Care and Household Care, and More), Retail Channel (Traditional Mom and Pop Retail, Modern Trade Retail, E-Commerce, and Others), and Format (Hypermarkets, Supermarkets, Convenience Stores, Department Stores, Specialty Stores, and Others). The Market Forecasts are Provided in Terms of Value (USD).

The Vietnam online food delivery market attained a value of USD 968.14 Million in 2024. The market is expected to grow at a CAGR of 22.18% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 7176.94 Million.

As more Vietnamese people move to cities and as urban life gets busier, time becomes a premium as many consumers have less time to cook or dine in. As per Open Development Vietnam, about 57.3% of Vietnam's population is expected to reside in urban areas by 2050. The convenience of “order‑and‑deliver” meals becomes highly attractive. Also, urban density helps make delivery logistics more viable with restaurants and customers being closer, delivery routes are shorter.

Consumers are not just ordering more as they are becoming pickier, adding to the Vietnam online food delivery industry value. There is growing interest in healthy meals, plant‑based or specialty diets, organic ingredients, sustainable or eco‑friendly packaging. Demand for quality, food safety, hygiene has increased. Also, variety, including more international cuisines, is increasingly sought after. Platforms and restaurants that can meet such expectations can differentiate themselves.

Discover the booming Vietnam retail market! This in-depth analysis reveals a $252.9B market with a 13.64% CAGR (2025-2033), driven by rising incomes and e-commerce. Explore key players, market segments (grocery, electronics, etc.), and future trends impacting this dynamic sector.

The volume in the food market in Vietnam was modeled to stand at ************* kilograms in 2024. Following a continuous upward trend, the volume has risen by ************ kilograms since 2018. Between 2024 and 2030, the volume will rise by ************ kilograms, continuing its consistent upward trajectory.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Food.

Vietnam Retail Market size was valued at USD 297.5 Billion in 2024 and is expected to reach USD 952.6 Billion by 2032, growing at a CAGR of 15.6% from 2026 to 2032.

Vietnam Retail Market: Definition/ Overview

In Vietnam, retail is the direct sale of products and services to consumers through a variety of channels such as supermarkets, shopping malls, convenience shops, and e-commerce platforms.

Vietnam soup market size reached USD 48.7 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 108.6 Million by 2033, exhibiting a growth rate (CAGR) of 9.31% during 2025-2033. The growing awareness about health and wellness among Vietnamese people, rising reliance one-commerce and online grocery shopping, and increasing preferences for eco-friendly product packaging options represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, category, packaging, and distribution channel.

In 2021, Circle K was the most prominent player among Vietnam's convenience store chains with a market share of ** percent. This was followed by Family Mart and Ministop, with a market share of **** percent and **** percent respectively.

The Vietnam Foodservice Market size was valued at USD 22.32 Billion in 2024 and is projected to reach USD 51.43 Billion by 2032, growing at a CAGR of 11% from 2026 to 2032.

Vietnam Foodservice Market Drivers

Rising Disposable Income and Urbanization: Growing income levels and rapid urbanization are driving increased spending on dining out, convenience foods, and premium dining experiences. As more people move to cities, demand for diverse and high-quality foodservice options continues to expand. Urban residents spend approximately 75% more on dining out compared to their rural counterparts, with major cities like Ho Chi Minh City and Hanoi seeing a 32% increase in foodservice establishments between 2021-2023.

Digital Adoption and Food Delivery Growth: The widespread adoption of digital platforms, mobile apps, and e-payment solutions has fueled the growth of online food delivery services. The rise of food aggregators and quick-service delivery options has made dining more accessible and convenient for consumers. Vietnam's food delivery market has experienced explosive growth, with the Vietnam Digital Economy Report showing that online food delivery services reached USD 951 Million in 2023, a 157% increase from 2020.

International Cuisine Integration: The increasing exposure to global food trends and rising demand for international cuisines have transformed Vietnam’s foodservice landscape. Restaurants and cafes are incorporating diverse culinary offerings, catering to evolving consumer preferences and attracting both locals and tourists. The Vietnam Trade Promotion Agency reports that international restaurant chains grew by 43% between 2020-2023, with over 200 foreign food and beverage brands now operating in Vietnam. Local consumers are increasingly embracing international cuisines, with Japanese, Korean, and Western restaurants seeing a compound annual growth rate of 25% from 2021 to 2023.

The Vietnam Pet Food Market Report is Segmented Into Pet Food Product (Food, Pet Nutraceuticals/Supplements, Pet Treats, and Pet Veterinary Diets), Pets (Cats, Dogs, and Other Pets), and Distribution Channel (Convenience Stores, Online Channel, Specialty Stores, Supermarkets/Hypermarkets, and Other Channels). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Metric Tons).

The Vietnam Two-Wheeler Food Delivery Market report segments the industry into Vehicle Type (Scooters/Mopeds, Motorcycles), Application (Food Delivery, Grocery Delivery) and Province (Ho Chi Minh City, Ha Noi, Quang Ninh, Binh Duong, Vung Tau, Dong Nai, Bac Ninh, Da Nang, Thanh Hoa, Thai Nguyen, Vinh Phuc, Can Tho, Hung Yen, Phu Tho, Ninh Binh, Hue, Others (Hai Phong, Nghe An, Etc.)).

The Vietnam Food Additives Market Report is Segmented by Type (Preservatives, Sweeteners, Sugar Substitutes, Emulsifier, Anti-Caking Agents, Enzymes, Hydrocolloids, Food Flavors and Enhancers, Food Colorants, and Acidulants) and Application (Dairy & Frozen, Bakery, Meat & Seafood, Beverages, Confectionery, and Other Applications). The Report Offers the Market Size in Value Terms in USD for all the Abovementioned Segments.