NEW YORK, Nov. 14, 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. 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. 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. Download a sample report!
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)
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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.
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.
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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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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SOURCE Technavio
