Industry Threats & Opportunities
- Despite strong performance, some operators have been held back by regulations, increased competition and low profit margins
- Laws restricting food truck operators in some cities have hindered growth
- Operators that include healthy options will be best situated for success... purchase to read more
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 Key Buyers Chapter
The Food Trucks industry exhibits a low level of concentration due to the highly fragmented nature of the industry. Most food trucks are owner-operated and do not employ any workers. Additionally, there are no major players in this industry that control more than 5.0% of market share. IBISWorld expects the top four food trucks to account for less than 5.0% of industry revenue in 2016.
While the leading industry operators, such as Kogi, have added more trucks to their business over the past five years, new enterprises have entered the industry at a faster rate, causing the industry to become more fragmented. IBISWorld anticipates this trend to persist in the upcoming years as mobile food vending becomes popular in less saturated regions.
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Additional Insights for the
IBISWorld identifies 250 Key Success Factors for a business.The most important for the Food Trucks Industry are Ability to control stock on hand Proximity to key markets Must have license
IBISWorld analysts also discuss how external factors such as Consumer spending and Consumer Confidence Index in the Food Trucks industry impact industry performance... purchase to read more