Food Truck Market: Introduction

Food trucks can also be considered as mobile restaurants that are able to move anywhere. Food truck market is gaining traction as the food served by them is affordable and delicious and it is available at nearby places. Less capital investment is another reason for the growth of food truck market.

Food Truck Market: Dynamics

The global food truck market is expected to expand significantly over the forecast period, due to rising inclination of consumers towards street food and rapidly changing lifestyle. Lack of time is another reason due to which people are preferring food trucks to buy their meal at affordable rates. Furthermore, lower investment, higher profitability, and higher flexibility, coupled with rising disposable income of consumers, which in turn is enabling them to spend in unique and delicious food served at food trucks, are some of the reasons that are boosting the growth of food truck market. However, escalation in number of health conscious population, and stringent governmental regulations on food trucks due to service tax and traffic laws issues can hinder the growth of food truck market.

Gobal Food Truck Market Size Analysis, By Region (2017-2025)

Food Truck Market: Segment Analysis 

On the basis of application, fast food segment is expected to be leading the market share over the forecast period, due to availability of variety of fast foods served at food trucks. Increased inclination of teenagers and children towards fast food is another fueling factor for the anticipated growth of food truck market.

Among truck type, full size van is expected to hold the dominance in global food truck market as they are very spacious, hence can accommodate a large amount of food product to be served to consumers. Higher adoptation of food vans to serve food in concerts, public gatherings and other programs are expected to contribute majorly in the growth of the segment. Rising focus of food truck manufacturers on improving the interior of food bus and to produce hygienic food buses that are easy to maintain are anticipated to boost the growth of food bus segment.

Food Truck Market: Regional Analysis

North America is anticipated to be dominating the global food truck market due to increased interest of consumers in street food. The changing taste preference of consumer, coupled with low price of food sold at food truck is escalating the growth of food trucks market in North America. Increasing number of food suppliers aspiring to enter into restaurant business with lower capital investment is also aiding to the growth of food truck market in the region.

The food truck market shows the value of the U.S. food truck market in 2014 and 2015, as well as the industry forecast for 2020. In 2015, the U.S. food truck market was estimated at USD 856.7 million.

Rapid change in lifestyle and food habits in countries such as China, India, Australia and Japan, due to rapid urbanization is creating scope for the growth of food truck market in Asia Pacific in the upcoming years. Furthermore, rising income of population living in developing Asian countries such as India and China are expected to boost the mobile restaurant business and aid the growth of food trucks market.

Global Food Truck Market: Key Players

Major companies operating in global food truck market are Prestige Custom Food Truck Manufacturer, Roundup World Street Kitchen, EasyTracGPS Inc., Good Food Truck Company, Food Truck India and Roaming Hunger.

Global Food Truck Market Report Offer You!

Global Food Truck Market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

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