Last year, Vietnam's chained coffee market reached 725 million USD, an increase of 27% compared to 2023, according to the "Southeast Asia Coffee and Tea Chains 2026" report by Singaporean venture capital firm Momentum Works. This growth rate was the second highest in the region, trailing only Malaysia (34%). The value of the chained tea market hit 617 million USD, up 28% from 2023, following Thailand (38%).

These figures position Vietnam's combined chained coffee and tea market as the third largest in ASEAN, behind Indonesia and Thailand.

In Vietnam, the coffee chains with the most stores include Milano Coffee, Highlands Coffee, Phuc Long, Starbucks, and Katinat. Milano Coffee boasts a dominant network, with approximately 2,500 stores nationwide, according to its self-reported information.

Highlands Coffee ranks second. According to the 2025 business results report from Jollibee Foods Corporation (JFC), the company that owns and operates Highlands Coffee, the chain has 985 stores, primarily in Vietnam. Its revenue last year increased by nearly 16%.

In the tea business segment, ToCoToCo leads in store count, with nearly 1,000 branches. Hong Tra Ngo Gia follows, having reached the 500 sales point milestone. Other brands such as Gong Cha, Koi The, The Alley, and Tiger Sugar each operate approximately 50-70 stores per chain.

Despite being the third largest market in the region, Vietnam currently has only Milano Coffee operating over 1,000 stores. In contrast, ASEAN has 11 beverage chains of this size, comprising eight local brands and three international ones: Starbucks (US), Mixue, and Bingxue (China).

A beverage counter at Starbucks Reserve Bitexco on 18/4/2025. Photo: Kim Ngan

The two brands with the largest regional presence, Mixue (over 4,900 stores) and Cafe Amazon (over 4,400 establishments), have faced fierce competition upon entering Vietnam. Mixue Group, the company behind the affordable bubble tea and ice cream chain, indicated in its first half of 2025 report that it scaled down operations in Vietnam. Cafe Amazon even withdrew in November 2025, after five years of market entry.

Momentum Works' report also indicated that the Southeast Asian chained coffee and tea market reached nearly 10 billion USD in 2025. Weihan Chen, Head of Research at Momentum Works, noted that for many years, the regional beverage market's development has revolved around store expansion and the emergence of new brands.

Looking ahead, the competitive advantage will lie in the ability to optimize operational systems, from supply chains and in-store processes to digital infrastructure. "Future winning brands will not only have delicious beverages and the largest networks, but also strong operational systems", Chen stated.

The report highlighted that brands from China are becoming a model in this trend. Leading chains are adopting more industrialized operating models, including automation, QR-based processes, and assembly-line beverage preparation. This significantly increases capacity and economic efficiency per sales point. While a typical store serves 300-400 cups daily, leading establishments can now achieve 600-800 cups, with some even recording a record of over 9,000 cups.

Vien Thong