3.1.

Estimated the size of market (the F&B Industry in Vietnam)

The global food and beverage stores market size is expected to grow from $1707.29
billion in 2020 to $1872.9 billion in 2021 at a compound annual growth rate (CAGR) of
9.7%. In detail, The Vietnam foodservice market generated a revenue of $28.4 billion in
2021. The market is projected to grow at a CAGR of more than 19% during the forecast
period. The overall value of the foodservice profit sector in Vietnam declined during
2016-2021. Accommodation, travel, and leisure channels registered significant declines
in their values owing to restrictions on international travel. In the coming years, the profit
sector value is forecast to grow significantly as the pandemic subsides.
However, the food and beverage (F&B) industry in Vietnam is currently recovering from
the pandemic, which has had an impact on cafes, bars, restaurants, and daily consumption
due to limitations on public gatherings and movement as well as temporary financial
restraint displayed by many during uncertain economic times. Yet, long-standing trends
are expected to stand in good stead for Vietnam as its economy reopens. The Vietnamese
people spend a sizeable portion of their incomes on food and drink. Annual disposable
income of Vietnamese people is on the rise along with consumerism, they are
increasingly likely to spend on certain high-value foods. Therefore, the size of Vietnam's
fresh food market, such as vegetables, fruits, meat and fish, is estimated at $27 billion a
year and continues to grow. Fresh food sales are forecast to grow 4.3%/year. According
to Kantar’s WorldPanel Insight Handbook 2019, key areas of pre-pandemic expenditure
were fresh food & FMCG, education, eating and drinking out, entertainment and
travelling, etc. In which, the percentage of consumers spending money on fresh food
accounted for the highest at 26.8%. In particular, spending on fresh food is 3 times higher
than that on FMCG with an estimated account for 23% and amount of VND 1.1 million
per week.
Vietnamese shoppers have little alternative but to turn to online purchasing in 2021 when
faced with strict social distancing measures. Grab, GoJek, Bee & Baemin, and other ride-
hailing services made the switch to food and package delivery, while local e-commerce
behemoths Tiki, Shopee, Lazada, and Sendo, as well as significant grocery chains
VinMart, BigC, and Lotte Mart, all adopted door-to-door shipping. According to the
latest report by IMARC Group, in 2020, the market size of the online food delivery
industry in Vietnam amounted to around 587 million U.S. dollars, indicating an increase
from the previous year due to the impact of the COVID-19 pandemic. This industry was
forecast to continue to grow in the following years, reaching the forecast market size of
2.7 billion U.S. dollars by 2025.
Market size of the online food delivery industry in Vietnam from 2016 to 2020 with
forecasts to 2025
(in million U.S. dollars)

Additionally, the survey conducted by Rakuten in 2020, approximately 22 percent of the

female and 19 percent of male respondents in Vietnam stated that they ordered food from
food delivery apps several times a month. In comparison, seven percent of female
respondents even ordered several times a day, and around 43 percent of respondents in
Vietnam stated that they spent around VDN 100 thousand to VDN 200 thousand on one
order on a food delivery app.
 Online food delivery ensures no-hassle ordering, express deliveries, fewer
misunderstandings and, minimum human interactions. Also, numerous discounts and
cashbacks offered by these services have made online ordering quite popular among
young people and contributed to their widespread popularity across Vietnam.

3.2. Competitive and market analysis

3.2.1. Target focus group
The selection of target customers is very important because it will show us which
customer groups are really interested in and need our products the most. From there, we
exploit the main value from this customer group to bring revenue to the restaurant. For
our restaurant, the target customer group is 18-35 years old and those who care about
health.
(việc lựa chọn khách hàng mục tiêu rất quan trọng bởi vì nó sẽ cho ta thấy được nhóm
khách hàng nào thực sự quan tâm và cần đến sản phẩm của chúng ta nhất. Từ đó chúng ta
khai thác giá trị chủ yếu từ nhóm khách hàng này để mang lại doanh thu cho nhà hàng.
Đối với nhà hàng chúng tôi, nhóm khách hàng mục tiêu là 18 - 35 tuổi và những người
quan tâm tới sức khỏe.)
3.2.2. Persona
After a long time to business, restaurant define 3 customer groups: They are healthy care,
body shape care and vegetarian.
Firstly, healthy care.
Nowadays, more and more citizens concern about their health to decrease diseases
such as cancer, obesity, diabete and others. Thereby, “eat clean” is a popular key word
which is priority. Because this lifestyle helps them control amount and quality of food
into their body such as: supply fruits, vegetables, protein but decrease lipid, fastfood,
sweets and others foods. In addition, in terms of sick people, eat clean routine also help
them treat diseases, which supplement viatl vitamin and nutrient for treating. Therefore,
selecting clean and fresh ingredients which customers feel secure. They protect not only
health of themselve, but also health of their families.
Secondly, Body shape.
Many people feel lack of confident about their body because some people are too
thin, or too fat. They are afraid of other people's evaluation of their body, making them
shy and afraid to communicate. Therefore, the eat clean lifestyle helps them solve that
worries. For example, for people with thin body, they should set up an eating routine to
help them gain weight such as eating more protein and vitamins. At the same time, they
regularly exercise too, which will help them strengthen their health. And regard to people
with fat body, eat clean helps them lose weight by limiting greasy and fast food.
Although it is quite difficult at first, if they are patient and do exercise of gym regularly,
they will get a dream body. From that, they will fell more confident about their
appearance.
(nhiều người cảm thấy thiếu tự tin về cơ thể của họ bởi một vài người thì quá ốm,
hoặc là quá mập. họ sợ sự đánh giá của người khác về cơ thể của họ khiến họ luôn rụt rè,
ngại giao tiếp. Chính vì vậy lối sống eat clean giúp họ giải quyết nỗi lo đó. Ví dụ, đối với
bạn có thân hình gầy gò, họ nên thiết lập lộ trình ăn uống để giúp họ tăng cân như bổ
sung đạm và vitamin. Đồng thời, họ thường xuyên tập thể dục nữa sẽ giúp cơ thể họ trở
nên khỏe mạnh hơn. còn đối với những bạn có thân hình béo phì, thì eat clean giúp họ
giảm cân bằng cách hạn chế những món ăn dầu mỡ, thức ăn nhanh. Tuy lúc đầu hơi khó
khăn nhưng nếu chịu khó kiên trì cùng với tập thể dục đều đặn thì họ sẽ có được thân
hình mơ ước. từ đó học sẽ không còn tự ti về ngoại hình nữa.)
And finally, vegatarian
People often think that vegetarianism is usually spend for Buddhists, but today
many normal people are still vegetarian. Because, taking vegetarian meals not only helps
them protect their health but also makes them feel pure and calm more. Besides, many
researchs illustrate that vegetarianism brings many health benefits. Therefore, the
restaurant offers frugal and nutritious dishes.
(người ta thường nghĩ rằng ăn chay thường dành cho người hướng phật, nhưng
ngày nay nhiều người thường vẫn ăn chay. bởi vì, ăn chay không những giúp họ bảo vệ
sức khỏe mà còn làm cho họ cảm thấy thanh tịnh và điềm tĩnh hơn. Bên cạnh đó, nhiều
nghiên cứu chỉ ra rằng, ăn chay mang lại nhiều lợi ích cho sức khỏe. do đó, nhà hàng
cung cấp những món ăn thanh đạm và đầy đủ chất dinh dưỡng.)

3.2.3. Estimates the number of products that target buyers might purchase

The restaurant's average operating capacity in the first year is estimated to be 35%, with
an average of 70 diners per day at the restaurant and an average of 150 diners ordering
online including delivery apps, including: About 40 customers order a combo of 5 days a
week (3 meals/day) equivalent to 120 meals/day and 25 customers order a combo of 7
days a week (3 meals/day) equivalent to 75 meals/day. Estimated number of 360-day
active days in the first year. But this is just our initial estimate, this number may change
due to the influence of external factors. To know the influence of external factors on
Famstay's business, we decided to use PESTEL analysis for evaluation.
 Political factors: In the context of the complicated development of the Covid-19
epidemic, when the operation of traditional markets is limited, people's need to hoard
food during the isolation period, further promotes the market for clean food consumption.
Recently, a series of large enterprises have also invested in clean agriculture and high-
tech agriculture. In particular, recently, the Prime Minister has made big decisions to
invest in clean food - high-tech agriculture with a credit package of VND 50,000 billion
with many incentives. In addition, investors are entitled to investment incentives in terms
of corporate income tax for projects on processing and preserving safe vegetables and
clean food as prescribed in Decree 164/2003/ND-CP dated May 22. December 2003 of
the Government on "Detailing regulations on the implementation of the Law on corporate
income tax", Decree 152/2004/ND-CP dated August 6, 2004 of the Government
amending and supplementing a number of articles of Decree No. No. 164/2003/ND-CP of
December 22, 2003 Detailing the implementation of the Law on Corporate Income Tax,
it will create relatively easy and convenient legislation to increase domestic output. The
number of suppliers investing in the clean food market increases because of incentives
and support from the state, thereby increasing the ability to ensure the source of input
materials as well as the quality of the restaurant in the future. customer's eyes.

Economic Factors: The economic growth rate is maintained at a relatively high

level, for the whole period 2011-2019, GDP growth reached about approximately
5.1%/year, belonging to the group of high-growth countries in the region and the world.
This will increase the originally estimated number of customers due to the improvement
in living standards due to economic development. However, due to the impact of the
Covid-19 epidemic, the economic growth rate is decreasing, specifically, in 2020 it
decreased sharply to only 2.12%, along with inflation and the unemployment rate
(continue to reach a low of 1.42% in 2021) due to the influence of the epidemic.
However, the economy expanded 13.76 percent in the third quarter
compared to 7.72 percent in the second quarter and 5.05 percent in the first
quarter. This is a good sign for the clean food business because in addition
to people's income is recovering, but after experiencing the epidemic, they
raise awareness about the issue of choosing clean and safe food, applying
healthy diet to ensure good health.
 Graph : GDP growth rate from 2021-2020

(baochinhphu.vn)

Social factors: According to the graph below, the bulk of our country's population
is between the ages of 15 and 64, which is the working-age group with a steady
profession and is married. Because this age group is generally highly busy and under a lot
of strain at work, they have a strong desire to unwind with their families in tranquil
settings, which is also our target client. We will be able to attract a large number of
clients due to the high population density in this location.
3.3 Competitors Analysis

Taste Of Fresh does the competitive analysis that is a way of evaluating how well our
business and our products or services are performing compared to other rivals selling
similar products or services in the market. It assists us in identifying our product's unique
value proposition and what differentiates it from rivals, which may guide future
marketing efforts.

Taste Of Fresh estimates that there are about 1,000 healthy food restaurants in Ho Chi
Minh City. Of which, more than half of the restaurants operate under the eat clean model
and about 400 restaurants operate the vegan eat clean model. We selected 3 restaurants to
conduct competitor analysis. These are Green & Young, Eat More Salad, Bep Inspire that
are all restaurants that already have a foothold in the market. These restaurants provide
solutions for daily nutritional menus delivered to your door. The solution to the eat clean
menu, lose weight, gain muscle, maintain the habit of eating clean and living green. They
serve from individuals to businesses and their meal kit packages are classified into
numerous sorts, each with a different number of calories for different clients.

Green & Young Eat More Salad Goom - Healthy Foods

 Healthy Foodstore & Beverages

Product Offers meals to help the customers maintain a healthy lifestyle

Strengths -Diverse Menu from -Has a quick ordering -Good service and
system
main dishes to side dishes are diverse, The
ones, including red rice -All products are shop uses a bamboo or
noodles, mixed fruit, refrigerated before paper straw completely,
being delivered, it the food container made
- Green & Young only takes 3 minutes
to warm up from bagasse, glass
Healthy Foodstore also bottles, cloth bags that
create their own recipe -There is a customer both care and protect the
for salad dressing care system right on
environment., so the
the website
food is no longer feeling
- The decoration is eye-
guilty for using plastic
catching, the case
containers
design looks very cool
- Have a weekly menu
- Is a brand that is hot
and have rice sets for
recently in the eat clean
customers
market
- There are kombucha
teas, organic seed milk
and dishes Natural
ingredients.

- Provide pure
vegetarian food, diverse
ingredients and
processing but still
ensure the element of
Eat Clean in the dish

Weaknesses - The price is quite high -Quite high price -The restaurant is
because the ingredients -The website system is not well-known.
used in the restaurant not eye-catching and
 are quite basic and sketchy
common, there is not -Does not specify the
much variety and amount of calories in
upgrade. each serving

-The amount of food in

each dish is quite small
compared to the price

All three restaurants analyzed above have a common point of diverse menu and use
environmentally friendly packaging, this is a factor that helps the restaurant score in the
eyes of customers. Green & Young Healthy Foodstore and Eat More Salad are all
familiar brands for customers who eat Eat Clean, in addition to ordinary customers they
still have a certain foothold because of their salads of the whole. The two shops are
famous and receive positive reviews on delivery apps and fanpage. Compared to the other
two restaurants, Goom invested very carefully on the content on their fanpage, in addition
to the information about the food and the image of the shop, Goom also often provided
and answered for customer useful information. Regarding the topic related to health.
Another special feature of the restaurant is that they provide pure vegetarian food, diverse
ingredients and processing but still ensure the element of Eat Clean in the dish. In
addition, they also have a weekly menu and have rice sets for customers to choose.

However, the weakness of these three restaurants is that they do not public calories in
each dish. The BMR Calculation is just relative, not accurate, thus consulting the Client
for the Optimal Package Selection will be ineffective. As for Groom, they only operate
on their fanpage and do not cooperate with the delivery apps so the number of customers
who know the restaurant is not much.

3.4. Differences to others competitors

The position of Freshii is the same price as Fitfood, Fitmeal, Bep Inspire. But in the
field of quality, Freshii makes sure to put in the higher position in quality. Other
competitors have the premium service to calculate the statistic as customer demand
however that is not truly effective in the long term. We can optimize that by tracking
daily
customer health. That helps the service to easily change the plan immediately as the
customer desires.
Moreover, to boost the customer satisfaction and encourage them to be loyal. We add the
nutritionist service to give advice at any time to the clients. That makes people who use
our service feel they are taken care of by nutrition experts so that they are willing to
enroll
in our service for a long time.
Source:
Statista (2021), Market size of the online food delivery industry in Vietnam from 2016 to 2020
with forecasts to 2025. Retrieved October 07, 2022 from Vietnam: online food delivery market size
2016-2025 | Statista

GlobalData (2022), Vietnam Foodservice Market Size and Trends by Profit and Cost Sector
Channels, Consumers, Locations, Key Players, and Forecast, 2021-2026. Retrieved October 07,
2022 from globaldata.com
James Fox (2022), Vietnam’s Food & Beverage Industry: Market Trends, Demographics,
Consumer Preferences. Retrieved October 07, 2022 from Vietnam’s F&B Industry: Market
Trends and Consumer Preferences (vietnam-briefing.com)
Thu Nguyen (2020), Exploring Asia's youngest consumer market: Why Vietnam now? Retrieved
October 07, 2022 from Exploring Asia's youngest consumer market: Why Vietnam, now? | We
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