Vietnamese consumers spend US$12.6 million daily on coffee and milk tea
Total revenue for the F&B industry is expected to reach VND755.4 trillion ($29.6 billion) this year.
THE HANOI TIMES — Vietnamese consumers spent over VND320 billion (US$12.6 million) on coffee and milk tea every day last year, contributing to total sales of VND118.3 trillion (US$4.6 billion) for beverage shops in 2024.
This data was released in a market report by iPOS.vn, a management solutions platform for over 100,000 restaurants and coffee shops, in collaboration with Euromonitor, and VIRAC.
The findings were based on a survey conducted by iPOS with nearly 4,500 respondents nationwide, primarily in Hanoi and Ho Chi Minh City.
Consumer insights
Phuc Long is targeting net sales growth of between 18% and 36% next year.
The report showed a 13% revenue increase, the highest growth rate from 2018 to 2024.
This growth was driven by consumers' return to a busy lifestyle reminiscent of the pre-pandemic era, as coffee shops, milk tea venues, and bars have evolved into multifunctional spaces, the report said.
