FAST FOOD BUSINESS: OPPORTUNITIES AND THREATS
Abstract
According to data of the General Statistics Office (2023), Vietnam’s population is 100.3 million people in 2023, an increase of 834.8 thousand people compared to 2022. Currently, Vietnam is the third most populous country in Southeast Asia (after Indonesia and the Philippines) and ranks 15th in the world. In recent years, the fast food market in Vietnam has truly become a powerful industry, stemming from Vietnam’s young population and increasing consumption demand. Despite the great growth potential, the fast food market also faces some significant threats. This article aims to point out the opportunities and threats for fast food businesses and propose some solutions to promote consumption and sustainable business for fast food production and business establishments.
Downloads
References
Allyn Freeman, Milton Parker (2005). How to feed friends and influence people. Hoboken, N.J: J Wiley
Anh Dung (2022). Current consumer trends of young people in Vietnam. https://news.timviec.com.vn/xu-huong-tieu-dung-cua-gioi-tre-hien-nay-83349.html#xu-huong-tieu-dung-cua-gioi-tre-trong-hanh-vi-an-uong
Bao Viet (2023). Explore startup opportunities with the fast food business model. https://baodanang.vn/can-biet/202302/tim-hieu-co-hoi-khoi-nghiep-bang-mo-hinh-kinh-doanh-do-an-nhanh-3937817/
Chu Hanh (2023). What is fast food? Should fast food be traded in Vietnam?. https://bepos.io/blogs/fast-food-la-gi/
Cimigo (2022). Healthy eating trends in Vietnam. https://www.cimigo.com/vi/trends/nhu-cau-va-xu-huong-an-uong-lanh-manh-viet-nam/
Duong Lieu (2023). In 2023, Vietnam’s population reached 100.3 million people, with an average life expectancy of 73.7 years. https://tuoitre.vn/nam-2023-dan-so-viet-nam-dat-100-3-trieu-dan-tuoi-tho-trung-binh-73-7-tuoi-20231230091202154.htm
Duyen Duyen (2018). Fast food is a booming industry in Vietnam. https://vietnambiz.vn/thuc-an-nhanh-la-nganh-hang-dang-len-ngoi-tai-viet-nam-54470.htm
Hoai Anh (2021). Healthy eating trends for physical and mental health. https://baothanhhoa.vn/doi-song-xa-hoi/xu-huong-an-uong-lanh-manh-cho-suc-khoe-the-chat-va-tinh-than/145103.htm
Huu Ngoc (1995). American Culture Profile. The Gioi Publishing House, Hanoi.
iPos.vn (2018). 3 reasons why food delivery services are increasingly developing in Vietnam. https://ipos.vn/3-ly-do-khien-dich-vu-giao-do-an-ngay-cang-phat-trien/
iPOS.vn (2021). Conquering Gen Z – The top target audience of the F&B industry today. https://ipos.vn/thu-hut-gen-z-fnb/
Mai Kim Lien (2023). Explosion of the fast food market in Vietnam: Potential and threats. https://1phut30giay.vn/blogs/news/bung-no-thi-truong-thuc-an-nhanh-o-viet-nam-tiem-nang-va-thach-thuc
Minh Nguyet (2022). What is Gen Z? 90% of Gen Z have these characteristics. https://hieuluat.vn/thong-tin-can-biet/gen-z-la-gi-90-gen-z-deu-co-nhung-dac-diem-nay-2713-46217-article.html
MQ - Win Flavor (2024). Vietnam Fast Food Market 2025 – Unstoppable development. https://mqflavor.com/thi-truong-thuc-an-nhanh-viet-nam-dau-hieu-khoi-sac-trong-boi-canh-binh-thuong-moi/
Nguyen Chuan (2022). Foreign fast food “struggling” in Vietnam. https://diendandoanhnghiep.vn/thuc-an-nhanh-ngoai-chat-vat-o-viet-nam-
Tran Dung (2024). Overview of Vietnam’s fast food market – development trends 2024. https://bepos.io/blogs/thi-truong-thuc-an-nhanh-viet-nam/
Viet Trinh (2023). Fastfood/ What is fast food? Popular fast food today. https://www.sapo.vn/blog/fastfood-thuc-an-nhanh-la-gi
Vu Khue (2022). Vietnam’s snack food market has the fastest growth in Asia. https://vneconomy.vn/thi-truong-do-an-nhe-viet-nam-tang-truong-nhanh-nhat-chau-a.htm
The authors and co-authors warrant that the article is their original work, does not infringe any copyright, and has not been published elsewhere. By submitting the article to GPH-International Journal of Business Management, the authors agree that the journal has the right to retract or remove the article in case of proven ethical misconduct.
