Market trend (HA)

Long term
Cooking directly on a cast iron skillet allows you to taste the freshness
and delicious aroma of the dish.  -> Utilize this entertainment trend to
attract customers and create a unique culinary experience.-> Leverage
the new market trend of PaPaXot restaurants.
Many young people are switching to the vegetarian/vegan trend. -> The
restaurant has been and is adding vegetarian/vegan products to the menu.
-> Looking into the future, the vegetarian/vegan trend seems to continue to
grow..->  The opportunity for PaPaXot restaurant to provide
vegetarian/vegan food will be expanded more.

* Short term: Create products with new materials, new methods. -> The West
and the East have introduced the trend of new ingredients (chia seeds, seaweed,
...) ->  created the dish "Seaweed Soup", "Heat squash", "Inlaid beef" golden
fortune"

Market growth (HA tt)

The foodservice industry in Vietnam is highly fragmented, with a wide range

of offering channels and participants. Local, independent, and small-scale
restaurants are majorly contributing towards the growth of the industry. Due to
shifting lifestyles and an increase in foodservice establishments, eating out is
becoming a significant aspect of modern Vietnamese life. 
Ipos.vn's report on the food and beverage market shows that the revenue of the
food service market in Vietnam in 2022 has recovered close to the pre-COVID-
19 level, reaching over 333 trillion Vietnamese dong. Due to the impact of the
COVID-19 pandemic, the F&B market in 2021 experienced a sharp decline.
However, after the pandemic, customers increased their frequency of eating out
and returned to their old living habits, making the F&B market a potential
market for businesses to invest in. Below is a table of revenue figures for the
F&B service in Vietnam from 2016 to 2022:

Based on the report, we can see that the food and beverage (F&B) business
market of Ipos.vn is projected to reach nearly 610 trillion Vietnamese dong in
revenue in 2022, a 39% increase compared to 2021. It can be seen that after the
COVID-19 pandemic, the F&B service industry has grown rapidly due to
various factors, including the recovery of consumer demand, the adaptability of
F&B businesses, and the restarting of the economy, which has led to a high
increase in consumer demand, resulting in the growth of the F&B service
industry in 2022 that has recovered significantly. Moreover, customers'
behavior when dining out has changed, and they have a high demand for safety
and food quality.
Not only that, based on the survey collected with customers using Papaxot, it
shows that
Based on the chart, we can see that 68% of customers are willing to spend over
100,000 VND per person for a high-quality meal at a restaurant. We can also
see that after the Covid-19 pandemic, customers have a high demand for food
quality and are usually people who care about nutrition and health. They are
willing to spend more on products made from good, safe and healthy
ingredients. Increased spending capacity urgently requires diverse products that
are suitable for customers' choices, and PAPAXỐT with a diverse menu can
satisfy that demand.
After two years of the pandemic, the F&B industry has experienced many
fluctuations. The estimated revenue scale of the F&B industry in 2022 is nearly
610 trillion Vietnamese dong, of which 333.69 trillion dong comes from the
restaurant market. The demand for this industry has strongly recovered after the
period of social distancing, and the market value in 2023 is expected to
increase by 18% compared to 2022, reaching 720 trillion dong. After a strong
recovery and impressive growth, the F&B industry will continue to develop at
a stable pace and is expected to reach a value of 938.3 trillion dong in 2026.
2023 is likely to become a battle for market share among major chains as small
investors remain cautious. As a result, Q4/2022 saw a slowdown in the F&B
industry compared to the same period in previous years. This is considered a
common impact of the economy and is expected to continue into 2023.
Some food business models will slow down after 2023. In particular, the food
delivery market will face more difficulties.
And based on the revenue chart that PAPAXOT has obtained in 2021 and
2022:

Year Revenue (billions dong) Growth

2021 5572
2022 14111 145,32̀%

After the COVID-19 pandemic, the revenue of PPX has remarkably increased
with a growth rate of 145.32%, indicating that the projects of PPX after the
pandemic are being implemented in a feasible way. With the strong
development of the F&B market, PPX has to compete with many competitors
after the COVID-19 pandemic. However, from the above figures, we can see
that PPX has overcome many competitors to stand firm in the F&B market in
Ho Chi Minh City. PPX has gained a significant amount of market trend
information and combined it with the market growth after the COVID-19
pandemic, which helped PPX segment its customers clearly and meet their
needs from food quality to services. This has helped PPX remain steadfast in
the F&B market up until the present time