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Food Trucks: Market Research Report

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

Food Trucks Market Research Report | NAICS OD4322 | Nov 2016

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
$870m
Annual Growth 11-16
7.9%
Annual Growth 16-21
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Profit
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Employment
13,501
Businesses
3,703
Industry Analysis & Industry Trends

The Food Trucks industry has only grown in strength over the past five years and is one of the best-performing segments in the broader food-service sector. The industry's remarkable rise has been largely attributable to changing consumer preferences in favor of unique, gourmet cuisine at budget-conscious prices. Despite strong industry-wide performance, some food truck operators have been held back by municipal regulations, increased competition and low profit margins. The industry will face various challenges over the next five years, especially regulatory hurdles, which have restricted the industry's growth over the past five years. Parking laws and other ordinances are still evolving in many cities to catch up with the industry's transformation... purchase to read more

Industry Report - Industry Analysis Chapter

The Food Trucks industry has experienced a boom over the past five years, primarily as a result of the surge in gastronomy in the United States. The industry, which is composed of operators preparing and serving a broad range of cuisine from mobile food trucks on city sidewalks, in parks and at events, has outpaced the broader food-service sector over the past five years. Additionally, the industry has evolved quickly, as entrepreneurial food truck operators have entered the market to cater to changing consumer preferences in favor of gourmet offerings and unique food concepts. As a result of these trends, industry revenue is expected to grow at an annualized rate of 7.9% over the five years to 2016. The industry is projected to expand 6.1% in 2016 alone, bringing revenue to $869.5 mi.. 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
American (burgers, sandwiches and hot dogs)Central and South AmericanMixed EthnicityGreek MediterraneanAsianDesserts
 
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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