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Food trucks market to grow at a CAGR of 5.87% from 2022 to 2027: The growing popularity of street food through food trucks will drive growth - Technavio

NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The food trucks market size is estimated to grow by USD 1,409.73 million from 2022 to 2027, at a CAGR of 5.87% according to Technavio. Download a sample report!

Technavio has announced its latest market research report titled Global Food Trucks Market 2023-2027
Technavio has announced its latest market research report titled Global Food Trucks Market 2023-2027

Food trucks market insights -

  • Vendors: 15+, Including Bostonian Body Inc., Custom Concessions, Delivery Concepts Inc., Food Trailers for Sale, Food Truck Co., Foodtrucker Engineering LLP, Futuristo Trailers, M and R Specialty Trailers and Trucks, MSM Catering Trucks Mfg., Roaming Hunger LLC, United Food Truck LLC, and VS Special Design srl, among others

  • Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

  • Segments: Application (Fast food, Barbeque and snacks, Desserts and confectionary, and Others), Type (Medium-sized food trucks, Small-sized food trucks, and Large-sized food trucks), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

To understand more about the food trucks market, request a sample report

Food trucks market - Company insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Bostonian Body Inc., Custom Concessions, Delivery Concepts Inc., Food Trailers for Sale, Food Truck Co., Foodtrucker Engineering LLP, Futuristo Trailers, M and R Specialty Trailers and Trucks, MSM Catering Trucks Mfg., Roaming Hunger LLC, United Food Truck LLC, and VS Special Design srl.

Food trucks market – Market Dynamics

Major Drivers

The growing popularity of street food through food trucks drives the growth of the food truck market. Gourmet street food means gourmet-style street food that is typically prepared to a high standard tastes good and is aesthetically presented, which are becoming more common.

Local cultures are often reflected in street food, and there is a wide variety of them the food consumption pattern of consumers has changed; they prefer foods with good taste and are cheaper in price. Hence, such factors drive the growth of the food truck market during the forecast period.

Significant Trends -

Increasing demand for eating out is an emerging food truck market trend. Food trucks are known to make and promote fast foods, barbeques, snacks, desserts, and more. Food trucks also offer less waiting time and a great taste that makes them more demanding than restaurants.

Since, eating out has turned out to be one of the most famous forms of leisure, going out offers a chance to socialize and relax over delicious food without having to cook or do the dreaded clean-up after dinner. Hence, such trends fuel the growth of the food truck market during the forecast period.

Key Challenges - 

Strict government rules on the use of food trucks challenge the growth of the food truck market. People gather near food trucks, which creates heavy losses for street food vendors, affecting the market for food trucks.

Furthermore, since private areas have complained of gatherings in proximity to their premises, parking permits are required for food trucks. Hence, such factors challenge the growth of the food truck market during the forecast period.

Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

The food trucks market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this food trucks market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the food trucks market between 2023 and 2027

  • Precise estimation of the size of the food trucks market and its contribution to the market with a focus on the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the food trucks market across Europe, North America, APAC, South America, and Middle East and Africa

  • A thorough analysis of the market's competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of food trucks market vendors

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Food trucks market scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.87%

Market growth 2023-2027

USD 1,409.73 million

Market structure

Concentrated

YoY growth 2022-2023 (%)

5.77

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 37%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Bostonian Body Inc., Custom Concessions, Delivery Concepts Inc., Food Trailers for Sale, Food Truck Co., Foodtrucker Engineering LLP, Futuristo Trailers, M and R Specialty Trailers and Trucks, MSM Catering Trucks Mfg., Roaming Hunger LLC, United Food Truck LLC, and VS Special Design srl

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2022

  • 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

  • 4.1 Global food trucks market 2017 - 2021

  • 4.2 Geography Segment Analysis 2017 - 2021

  • 4.3 Application Segment Analysis 2017 - 2021

  • 4.4 Type Segment Analysis 2017 - 2021

  • 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

  • 5.1 Five forces summary

  • 5.2 Bargaining power of buyers

  • 5.3 Bargaining power of suppliers

  • 5.4 Threat of new entrants

  • 5.5 Threat of substitutes

  • 5.6 Threat of rivalry

  • 5.7 Market condition

6 Market Segmentation by Application

  • 6.1 Market segments

  • 6.2 Comparison by Application

  • 6.3 Fast food - Market size and forecast 2022-2027

  • 6.4 Barbeque and snacks - Market size and forecast 2022-2027

  • 6.5 Desserts and confectionary - Market size and forecast 2022-2027

  • 6.6 Others - Market size and forecast 2022-2027

  • 6.7 Market opportunity by Application

7 Market Segmentation by Type

  • 7.1 Market segments

  • 7.2 Comparison by Type

  • 7.3 Medium-sized food trucks - Market size and forecast 2022-2027

  • 7.4 Small-sized food trucks - Market size and forecast 2022-2027

  • 7.5 Large-sized food trucks - Market size and forecast 2022-2027

  • 7.6 Market opportunity by Type

8 Customer Landscape

  • 8.1 Customer landscape overview

9 Geographic Landscape

  • 9.1 Geographic segmentation

  • 9.2 Geographic comparison

  • 9.3 Europe - Market size and forecast 2022-2027

  • 9.4 North America - Market size and forecast 2022-2027

  • 9.5 APAC - Market size and forecast 2022-2027

  • 9.6 South America - Market size and forecast 2022-2027

  • 9.7 Middle East and Africa - Market size and forecast 2022-2027

  • 9.8 US - Market size and forecast 2022-2027

  • 9.9 UK - Market size and forecast 2022-2027

  • 9.10 Germany - Market size and forecast 2022-2027

  • 9.11 Canada - Market size and forecast 2022-2027

  • 9.12 China - Market size and forecast 2022-2027

  • 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers

  • 10.2 Market challenges

  • 10.3 Impact of drivers and challenges

  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview

  • 11.2 Vendor landscape

  • 11.3 Landscape disruption

  • 11.4 Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered

  • 12.2 Market positioning of vendors

  • 12.3 Bostonian Body Inc.

  • 12.4 Custom Concessions

  • 12.5 Delivery Concepts Inc.

  • 12.6 Food Trailers for Sale

  • 12.7 Food Truck Co.

  • 12.8 Foodtrucker Engineering LLP

  • 12.9 Futuristo Trailers

  • 12.10 M and R Specialty Trailers and Trucks

  • 12.11 MSM Catering Trucks Mfg.

  • 12.12 Roaming Hunger LLC

  • 12.13 United Food Truck LLC

  • 12.14 VS Special Design srl

13 Appendix

  • 13.1 Scope of the report

  • 13.2 Inclusions and exclusions checklist

  • 13.3 Currency conversion rates for US$

  • 13.4 Research methodology

  • 13.5 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com

Global Food Trucks Market 2023-2027
Global Food Trucks Market 2023-2027
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