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The US Food truck services Market size is estimated to grow by USD 520.9 million at a compound annual growth rate (CAGR) of 6.6% between 2022 and 2027. The market experiences a surge driven by the rising trend of snacks and indulgence consumption. Consumers increasingly seek convenient, on-the-go food options that offer unique flavors and experiences. Food trucks provide a diverse range of indulgent treats, from gourmet burgers to artisanal desserts, catering to evolving taste preferences. This shift reflects a broader cultural change towards experiential dining and culinary exploration, propelling the food truck industry forward as a dynamic and innovative segment of the market.
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This report provides a detailed analysis of the market by and Delivery Mode (Mobile vending and Online delivery), Product (Food, Desserts, and Beverages ), Type (American, Mexican, Chinese, Thai, and Others ).
The mobile vending segment is estimated to witness significant growth during the forecast period. The market has seen significant growth in recent years, particularly in the mobile vending segment. This segment focuses on trucks that serve a variety of food and drinks to customers in different locations, equipped with all necessary kitchen equipment and ingredients.
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The mobile vending segment was the largest segment and was valued at USD 1.03 billion in 2017. Food trucks offer a more affordable alternative to brick-and-mortar restaurants for entrepreneurs. Additionally, social media and review platforms have played a significant role in the success of mobile vending businesses, allowing truck owners to build a loyal customer base and attract new customers by providing updates on their location, menu, and special promotions. This, in turn, is expected to drive the growth of the mobile vending segment in the market during the forecast period.
Based on product, the market has been segmented into food, desserts, and beverages. The food?segment will account for the largest share of this segment.? The segment in the market predominantly emphasizes serving a vast variety of delicious and satisfying meals to customers. Additionally, the relatively low overhead costs compared with the opening of a restaurant make trucks an attractive option for aspiring entrepreneurs. Food trucks present a more accessible entry point into the service industry with lower operating expenses and the ability to reach a wider audience by attending festivals, markets, and other events. Therefore, such advantages are expected to increase the demand which will drive the growth of the segment in the market during the forecast period.
The US food truck market is thriving, catering to diverse tastes and preferences, especially among Gen Z consumers. Gourmet foods, including street food favorites like barbecue, hamburgers, and innovative options from trucks like Plantology in Gainesville, Florida, are gaining popularity. Social media platforms such as Facebook, Twitter, Instagram, TikTok, and Snapchat play a pivotal role in promoting food trucks and engaging with customers, offering convenience in finding their locations and exploring menus.
With lower initial investment and operational costs compared to traditional brick-and-mortar restaurants, food trucks provide opportunities for small independent restaurant owners. Legal compliances and regulatory standards are vital considerations for ensuring smooth operations. Innovation in payment methods, alongside technological advancements like Menufy, streamlines order placement and fulfillment, offering hassle-free dining experiences. As the food truck industry continues to evolve and diversify, it remains a lucrative revenue stream and a dynamic component of the culinary landscape in cities like San Francisco, Los Angeles, and Portland.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand for mobile food services is notably driving the market growth. The market growth is notably propelled by the increasing demand for mobile food services. Mobile service outlets, which involve selling prepared food for immediate consumption from motorized or nonmotorized vehicles and carts, are gaining prominence. Trucks, trailers, carts, and stands serve as platforms for delivering these services, with trucks emerging as particularly popular in the US market. Compared to brick-and-mortar restaurants, mobile service outlets boast a higher success rate, largely due to their lower initial investments and operational costs.
Urban youth's fondness for street food and the lower overhead costs associated with mobile service outlets contribute to their rising popularity. Major service chains like Starbucks, Chick-fil-A Inc., and White Castle Management Co. are also exploring mobile service options to expand their reach. As a result, the mobile food service segment is poised to bolster market growth in the forecast period, tapping into the preferences of modern consumers and leveraging technological advancements to offer hassle-free dining experiences.
The rise in strategic partnerships is one of the major market trends. In the market, there is a growing trend of market alliances among the participants. By working together, service establishments and delivery platforms can access new market landscapes and technologies. This has led to an increase in the number of strategic partnerships between different restaurants and delivery platforms. Such alliances offer a greater number of options, making it more convenient for customers to order food.
Moreover, an effective supply chain for delivery has also made many restaurants more accessible. Therefore, the growing number of strategic alliances between service establishments and delivery platforms is anticipated to support the growth of the market during the forecast period.
The rise in potential food contamination is a significant challenge hindering market growth. Food service providers often purchase raw materials, including vegetables, meat, and dairy products, from third-party suppliers. However, improper handling of these supplies can lead to contamination, which can affect the safety and quality of the product. Germs can spread to kitchen surfaces, floors, equipment, door handles, and hands, resulting in cross-contamination, which is the most common cause of poisoning. As a result, products may need to be discarded or recalled, which can have a significant impact on the operations and sales of the company.
Additionally, authorities may even shut down the business operation of such players if they engage in unsafe and unhygienic activities related to their products, and they have the right to confiscate/seize food and beverage products that pose a potential threat to consumers' overall well-being. Direct cross-contamination and indirect cross-contamination are the two major types of cross-contamination. These factors are likely to hinder the market's growth during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cousins Maine Lobster LLC - The company offers truck services that provide the perfect way to bring the Maine lobster experience to the neighbourhood by food trucks.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market thrives on the country's gastronomic culture and mobile lifestyle, offering a unique blend of traditional dining with food-on-the-go convenience. With millennials and Gen Z favoring gourmet foods and adventurous culinary experiences, food trucks capitalize on social media platforms like Facebook, Twitter, and Instagram to attract customers. These trucks, operating with low operational costs and diverse menus, cater to various preferences, from barbecue and hamburgers to plant-based options. Regions like San Francisco, Los Angeles, and Portland witness the success of Mexican and Italian cuisine segments, reflecting the market's globalization and cultural diversity. The rise of online delivery platforms like Menufy provides hassle-free dining experiences, enabling small independent restaurant owners to tap into a broader revenue stream while meeting regulatory standards and embracing technological advancements.
The market continues to evolve, reflecting the nation's love for gastronomy and on-the-go dining. Offering affordability, versatility, and accessibility, food trucks thrive even during economic recessions, embodying American culture with their meals on wheels concept. With consumers seeking unique and adventurous food concepts, food trucks leverage platforms like Tik Tok and Snapchat to showcase their offerings. Adhering to legal compliances and operating within designated times, trucks like Plantology in Gainesville, Florida, serve homemade cheesy burgers, mac bowls, and loaded fries, catering to vegetarian-friendly and vegan preferences. These trucks also offer a variety of beverages, from nitro brew to craft cocktails. Additionally, online delivery platforms facilitate easy ordering and payment methods, enhancing the overall dining experience for customers while ensuring seamless order placement and fulfillment.
The market forecasting report covers market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
US Food Truck Services Market Scope |
|
Market Report Coverage |
Details |
Page number |
135 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.6% |
Market growth 2023-2027 |
USD 520.9 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.32 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Coolhaus, Cousins Maine Lobster LLC, Curbside Kitchen, Frios Gourmet Pops, GASTROTRUCK, Gorilla Cheese NYC, Kogi BBQ, Ms Cheezious, Nationwide Transport Services LLC, Off the grid, Roaming Hunger LLC, Rocket Fine Street Food, Roxys Grilled Cheese, Seabirds Kitchen, Slide On By, Stoked Pizza Co., Tenoch Mexican, The Halal Guys Inc., Vibe Food Truck, and Waffle House Inc. |
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, and 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Delivery Mode
7 Market Segmentation by Product
8 Market Segmentation by Type
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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