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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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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
Annual Growth
Profit
Profit
Employment
13,501
Businesses
3,703
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 - Starting a New Business Chapter

The barriers to entry into the Food Trucks industry are low when compared with other industries in the food-service sector. Compared with brick-and-mortar food service establishments, initial capital investments for this industry are relatively low. Capital is required to purchase or lease kitchen equipment and trucks, with fully equipped trucks costing more than $100,000. Additionally, in saturated markets such as New York, obtaining a mobile food vending unit permit, which is required to begin operations, is difficult because cities place limits on the number of permits they distribute annually. Moreover, while a two-year truck permit only costs $200 on the black market, vending unit permits are sold for about $15,000. As .. ... purchase to read more

Additional Insights for the Food Trucks Industry

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

     


    Industry ProductsRelated Reports

    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


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Consumer Confidence Index
  • Healthy eating index
  • Urban population
  • Agricultural price index
  • Current Performance
  • Chart: Revenue Growth
  • Industry Outlook
  • Table: Food Trucks Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Food Trucks Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Consumers
  • Key Selling Industries
  • Frozen Food Wholesaling
  • Fruit & Vegetable Wholesaling
  • Grocery Wholesaling
  • Meat Markets
  • Products & Services
  • American (burgers, sandwiches and hot dogs)
  • Asian
  • Desserts
  • Central and South American
  • Other
  • Mixed Ethnicity
  • Greek Mediterranean
  • Chart: Food Trucks Industry Products and Services Segmentation
  • Demand Determinants
  • Income and weather
  • Health consciousness
  • Convenience
  • Major Markets
  • Age 25 to 44
  • Under age 25
  • Age 55 and over
  • Age 45 to 54
  • Chart: Major Market Segmentation for the Food Trucks Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Food Trucks
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Food Trucks Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Food Trucks Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Food Trucks Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Consumer spending (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Brick And Mortar
  • A store that has a physical presence and location, as opposed to an online retailer or a street vendor.
  • Gastronomy
  • An interest in food and good eating with a particular focus on gourmet cuisine
  • Point Of Sale (Pos)
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Food Trucks:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Food Trucks market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Food Trucks, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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