HANOI, Feb. 28 (Xinhua) -- Vietnam's coffee shop industry is growing remarkably despite a rising number of business closures, Vietnam News reported Friday.

According to data from the consultancy group Mibrand, Vietnam now boasts over 500,000 coffee shops, ranging from small alleyway coffeehouses to high-end coffee chains.

F&B research firm Ipis forecasts that the Southeast Asian country's coffee market, valued at approximately 510 million U.S. dollars in 2024, will reach 765 million dollars by 2029.

While success is possible, experts caution that profitability requires careful financial management, strategic marketing and a long-term commitment.

According to trade experts, Vietnam's coffee industry contributes around 3 percent of the country's gross domestic product. The country's overall beverage sector generates approximately 60 trillion Vietnamese dong (2.3 billion dollars) for state revenues annually. Enditem

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