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A report by revealed that as of March 2023, Lotteria and KFC were the leading fast-food restaurant chains in Vietnam by number of stores, with *** and *** outlets, respectively. According to the source, the number of chain restaurants in Vietnam totaled over *** thousand that year.

Growth of the fast-food industry in Vietnam

KFC and Lotteria were among the first international chains to enter the Vietnamese fast-food market in the late 1990s. Over the next decade, the fast-food industry enjoyed substantial growth and popularity among Vietnamese diners, particularly among the younger generations. However, in the mid-2010s, the American fast-food giant McDonald’s struggled to gain a foothold in Vietnam’s crowded fast-food scene despite their global dominance. As of 2021, McDonald’s reportedly operated and franchised over ** thousand restaurants in over 100 countries worldwide. Out of these, just ** were located in Vietnam.

Vietnam’s F&B market on the rise of food delivery services

Quick-service restaurants looking to enter the Vietnamese F&B market would need to compete against the country’s street food sector. Amid the fast-food craze, street vendors and food stalls have remained the most prevalent type of food and beverage business in Vietnam. However, 2020 was a difficult year for Vietnam’s F&B market when the COVID-19 pandemic posed significant challenges to the country’s economy. As a result, food delivery services has witnessed significant growth to meet the needs of the population during the lockdown period. Fast-food restaurants, on the other hand, were better able to adapt to the trend by utilizing online delivery services even after the lockdown was lifted. According to a survey conducted among Vietnamese consumers, around ** percent of respondents revealed that they had ordered fast food on delivery apps, as of April 2023.