The total household spending is expected to increase steadily by an average of 10%/year due to the increase in GDP per capita of Vietnam. In which, the spending on F&B in Vietnam accounted for more than 20% of the total household spending, and almost 40% of the essentials spending. With the forecast of Fitch Solutions, spending on F&B will achieve a CAGR (2022F-2026F) of 9%.
From 4M2020 to 4M2022, commodity prices skyrocketed due to the COVID-19 pandemic causing the supply to be exhausted and pushing up commodity prices. Since 2022, this index has shown signs of cooling down due to improved supply, creating a driving force for consumption to grow again.
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