COUNTRY PROFILE
Discover more about the Vietnam market including overviews about the retail, foodservice, and food-processing sectors. Events, resources, and more are linked throughout the profile.
2nd largest
Vietnam ranks as the second largest export market in Southeast Asia for U.S. processed food exports
105.7 million
The total population of Vietnam reached 105.7 million people in 2024
6-7%
Vietnam’s annual GDP growth average
USDA’s Office of Agricultural Affairs (OAA) in Hanoi, hereinafter referred to as “FAS Post Hanoi,” reports that as of 2024, U.S. exporters continue to face tariff disadvantages in Vietnam, which can reduce the competitiveness of U.S. products against those from countries that have Free Trade Agreements (FTAs) with the country.
Vietnam ranks as the second largest export market in Southeast Asia for U.S. processed food exports and the 10th overall. U.S. exports of processed food to Vietnam grew 5% to US$666.1 million in 2024.
Top 2024 processed food exports to Vietnam included:
Canned, Dried, and Frozen Fruit
$16 billion
Retail packaged food sales in Vietnam reached US$16 billion in 2024
37.8%
By 2029, retail packaged food sales are expected to reach US$22.6 billion
$666.1 million
U.S. exports of processed food to Vietnam were US$666.1 million in 2024.
According to Euromonitor, retail sales in the packaged food market in Vietnam had been estimated to reach US$16 billion in 2024, ranking it fourth in ASEAN after Indonesia, the Philippines, and Thailand. By the year 2029, retail sales in the packaged food market in Vietnam are expected to reach over US$22.6 billion.
Most consumer-oriented products reach the shelves of retail food channels through importers and processors. Recently, some of the largest modern retail food chains have started directly importing fresh fruits, beef and beef products, seafood, and non-alcoholic beverages for their outlets.
FAS Post Hanoi reports that U.S. products that are already present in the Vietnamese market with good sales potential include pork meat, tree nuts, food preparations, fresh produce, poultry, seafood, milk and dairy products, condiments, and sauces.
$26.9 billion
In 2023, Vietnam’s foodservice sector reached US$26.9 billion
$1.1 billion
Vietnam imported US$1.1 billion of consumer-oriented products from the U.S. in 2024
18 million
Vietnam expected 18 million foreign tourists in 2024.
FAS Post Hanoi reports that in 2023, Vietnam’s hotel, restaurant, and institutional (HRI) sector grew 14.7% to US$26.9 billion. Vietnam’s foodservice market is dynamic and competitive, driven by a younger population of nearly 100 million people. According to the “ASEAN Consumer Sentiment Study” in 2024, 42% of surveyed Vietnamese consumers reported increasing their spending on experiences, including vacations, fine dining, and concerts.
The top imports from the U.S. in 2024 were tree nuts (pistachios, almonds, and walnuts), poultry products, fresh fruits (apples, cherries, and grapes), dairy products, and non-alcoholic beverages. Products not present in significant quantities but have good sales potential include cheeses, ginseng, dried and frozen fruits and other packaged products.
$73.8 billion
Vietnam’s food processing industry was valued at US$73.8 billion in 2023
11,000 companies
Vietnam’s food processing industry comprises some 11,000 companies
14.7% increase
Vietnam food processing sector experienced growth of 14.7% due to a rebound in tourism
FAS Post Hanoi reports that Vietnam’s food processing industry comprises some 11,000 companies, valued at US$73.8 billion in 2023. Vietnam is a large producer of agricultural products, including pork, coffee, spices, fruits, and vegetables. The country is also developing a burgeoning food processing and agro-industrial base. Leading multinational food processors have established food processing operations in Vietnam and are able to offer a range of Western-style products at reasonable prices.
FAS Post Hanoi reports that U.S. products present in the market with strong sales potential include fresh fruits, dairy products, tree nuts, soup and other food preparations, meat products, bakery goods, cereal, pasta, syrup and sweeteners, confectioneries, seafood, wheat, and soybeans and soybean meal.
