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Food Trucks in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Food Trucks Market Research Report | Consumer Goods & Services | Food Service & Drinking Places | Jan 2015

On the go: Industry revenue growth will slow amid regulatory hurdles and increased saturation

IBISWorld’s Food Trucks market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$857m
Annual Growth 10-15
9.3%
Annual Growth 15-20
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Profit
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Employment
14,893
Businesses
4,042
Industry Analysis & Industry Trends

The Food Trucks industry has experienced a remarkable rise over the past five years, as consumers have increasingly favored unique, gourmet cuisine at budget-conscious prices. Despite strong performance, however, high competition and unfavorable regulatory conditions in some cities have limited the growth of industry vendors. Nevertheless, the industry has outperformed the broader food-service sector over the period in terms of revenue expansion. In the five years to 2020, favorable consumer trends will continue to underpin moderate revenue growth, but the industry will need to work with municipal governments to resolve the remaining legal challenges to food truck operations.... purchase to read more

Industry Report - Industry Investment Chapter

The Food Trucks industry has a low level of capital intensity. While a food truck with a fully functional kitchen can be very expensive, the industry also heavily relies on human labor. In 2015, IBISWorld estimates that for every dollar an operator spends on wages and associated labor costs, it will spend $0.04 on the use and replacement of capital.

The main capital costs incurred by operators include the purchase of vehicles and cooking equipment. These assets depreciate over time, but given their high resale value, depreciation rates are typically low. Launching a new food truck venture costs into the tens of thousands of dollars. However, operators can reduce their capital outlays by renting or leasing vehicles or equipment... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Food Trucks Industry?

The industry comprises establishments primarily engaged in preparing and serving meals from a mobile truck. Food is normally prepared, stored and cooked on the truck. The truck may or may not use the same location each day and does not sell alcoholic beverages.

Industry Products
AmericanLatin AmericanAsian and Middle EasternDesserts
 
Industry Activities
Preparing and serving food from a mobile truckPreparing and serving beverages from a mobile truckPreparing and serving dessert from a mobile truckServing prepackaged food and beverages from a mobile truck


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