- 1. Pizza 4P’s – Pizza For Peace
- 2. Kamereo – Farm to Restaurant Provider
- 3. Star Kombucha
- 4. Marou – The Best Chocolate You Never Heard of
- 5. Foody.vn – The Ultimate Foody App
- 6. Lecka – Healthy Organic Snacks
- 7. Orlar – Revolutionary Organic Produce
- 8. Pasteur Street Brewing Co.
- Investing in Vietnam’s F&B Industry? – Know the Trends
- How can Cekindo Help?
Vietnam is a thriving economy with a host to Asia’s top Food & Beverage (F&B) startups making a splash. In 2020, the F&B sector clocked USD 42 million in revenue and made a 15.8% contribution to the GDP of the country. Moreover, food and beverage spending accounts for about 35% share in the monthly expenditure structure of Vietnamese consumers. This industry is on the rise and rife with investment possibilities.
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By 2030, it is estimated that Vietnam will be home to 17 million middle-class households and shall become the third-largest urban market in terms of consumer numbers and the fifth largest in terms of total spending in Southeast Asia. This will act as a catalyst for businesses to invest in Vietnam’s F&B sector.
Here is our list of Top F&B Startups that are scripting their success stories in the country.
1. Pizza 4P’s – Pizza For Peace
Pizza 4P’s follows a mission to serve delectable food to their customers while taking environment-conscious initiatives at the same time. The restaurant is committed to providing experiences that leave every guest satisfied. Moreover, they also started an article series “Peace for Earth” highlighting their various sustainable projects like the development of a Zero-waste restaurant, upcycling 3 tons of plastic waste into furniture, turning leather waste into bill holders, and various others.
2. Kamereo – Farm to Restaurant Provider
Kamereo happens to be the first B2B food supplier in Vietnam that leverages technological advancements to aid restaurants in receiving their daily supplies in the most seamless manner.
Since its launch in 2019, they have helped a plethora of restaurants in Ho Chi Minh City to streamline purchasing operations and reduce costs. To supplement its expansion plans in Hanoi and the building of a new warehouse system, the organization managed to raise an impressive $4.6 million in 2021.
3. Star Kombucha
With the mission of “Healthy on the inside, beautiful on the outside”, Star Kombucha was introduced to encourage the healthy living movement happening in Vietnam. It is a fermented beverage that is primarily targeted at women aged between 30 to 44 to give them a better and healthy lifestyle. Mr. Paul Nguyen brought Kombucha to Vietnam because he firmly believed that the consumers here are curious to try various options available in the market, and with the entry of Star Kombucha their interest will be aroused.
4. Marou – The Best Chocolate You Never Heard of
With the peculiar thought of making chocolate using Vietnamese cacao, Marou was brought into existence and the manufacturing unit was set up in Saigon. Unlike most chocolate makers, Marou’s chocolate beans are carefully selected at the source, therefore giving the product required complexity and variability. It also helps the company to exercise greater control over all facets of the production line. The result is chocolate with unusual aromas — licorice, say, or tobacco, according to Marou itself. In March 2021, Mekong Capital decided to make their investment in Marou, aiding the business to further scale-up.
5. Foody.vn – The Ultimate Foody App
Foody.vn receives 9,288,000 monthly web visitors looking for food recommendations, restaurant listings, and value-added services such as order delivery, reservations, and coupons. Since its inception in 2012, the company has mushroomed in the F&B sector and happens to be one of the most successful start-ups in Vietnam.
Moreover, the company received seed funding from Southeast Asia’s Sea Ltd — a leading internet company based in Singapore. The series B round concluded with an investment of $64 million for 82% of public shares of Foody.
6. Lecka – Healthy Organic Snacks
Lecka is a healthy snack brand in Vietnam aimed at providing delicious and nutritious food to consumers who want to lead a healthy and sustainable life. It strictly advocates and practices the use of natural, local ingredients and plastic-free packaging.
The brand has huge support from the country’s sports community members who are always looking for fresh and healthy snacks for their workouts and adventures.
7. Orlar – Revolutionary Organic Produce
Orlar was envisaged to overcome the problems associated with agricultural intensification by using sustainable development models and efficient food production technologies. It encourages the use of high-tech vertical farming ‘pods’ and proprietary inputs to transform lives and landscapes.
Moreover, the company extensively promotes activities related to the preservation of native biodiversity, judicious use of natural resources, and improving the wellbeing of people.
8. Pasteur Street Brewing Co.
Headquartered in Saigon, Pasteur Street Brewing Company brings a perfect fusion of American brewing with fresh and local Vietnamese ingredients to make amazing craft beer. The company is recognized as an innovative leader in the craft beer community and one of the most prominent beer brands in the country. Since 2014, they have sent beers to more than 300 outlets domestically and internationally and won countless awards in APAC craft beer competitions.
Investing in Vietnam’s F&B Industry? – Know the Trends
The Covid-19 pandemic has introduced significant changes in the consumption patterns of the locals which in turn has a direct impact on the trends of the F&B industry in Vietnam.
Cautious spending on leisure activities
Lockdown and social distancing rules during the Covid-19 pandemic affected the daily income of the Vietnamese people, forcing them to cut their costs on activities such as beauty services, dining out, and outdoor entertainment. Eventually, they have become more price-conscious and prefer to spend on essential products or services. However, customers are still willing to spend more on healthy products.
More awareness of Hygiene and safety
Expect the consumers to be finicky regarding the food’s safety and hygiene. Moreover, they shall also expect the deployment of advanced technological measures in the processing, packaging, and preservation of products.
Vietnamese are gradually pivoting towards organic and plant-based products, based on the belief that said products are healthier than animal products. This trend is expected to spike at a higher rate in the coming years. According to Polaris Market Research, the global plant-based meat market hit $5.02B in 2021 and is forecasted to grow at a CAGR of 20.6%. Vietnamese people are promised to be among the big consumers.
A more health-conscious middle-class
With the advent of the Covid-19 pandemic, Vietnamese started taking their diets seriously, and eventually, they began to incline towards products that aid in increasing the body’s immunity and resistance. Food categories that were regarded as healthy grew in popularity, while less healthy products struggled for growth.
How can Cekindo Help?
Cekindo’s team of legal experts, lawyers, and consultants have a plethora of experience in setting up F&B-related companies in Vietnam, including Restaurant Setup, Food Product Registration, and more. Fill out the form below and book a free initial consultation with one of our legal experts.