A slice of pepperoni pizza with cheese and bell pepper (Photo by Shutterstock/Potential Filmmaker/VNExpress)

American chain Pizza Hut was the revenue leader 32.2 million USD, up 22 percent year-on-year; followed by Thailand-headquartered The Pizza Company and Vietnam’s Pizza 4Ps.

As one of the earliest pizza chains established in Vietnam, Pizza Hut has had the advantage of being a market pioneer and has now operated for 14 years with over 90 outlets nationwide.  Second-placed The Pizza Company has been rapidly expanding in Vietnam since 2013, its number of stores second only to Pizza Hut at over 70 nationwide. While it is in third place with just 20 stores, Pizza 4Ps’s revenue last year was only 8 percent behind that of The Pizza Company.

Euromonitor International, a London-based strategic market analyst, estimated the value of Vietnam’s pizza market at 120 million USD in 2017.