Street Vendors in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS 72233Revenue
$3.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
105k
Businesses
94,730
Wages
$X.Xbn
Street Vendors in the US industry analysis
Street vendors are poised to rebound following major disruptions that came as a result of COVID-19. These vendors have seen growth through the end of 2023 because of heightened consumer demand for unique food products and more outdoor gatherings, though revenue also benefited later in 2020 due to falling demand for indoor dining. Street vendors prepare and serve food and beverages for consumption from vehicles and carts, limiting initial capital costs and expanding appeal for vendors attempting to enter the food service sector for the first time. IBISWorld expects street vendor revenue to swell at a CAGR of an estimated 12.3% to reach $3.9 billion through the end of 2024. The food truck craze began to take hold just prior to the current period and has since outperformed the broader food service sector. Further, rising inflation have reduced disposable, inducing customers to frequent street vendors due to their low price points. This steady expansion will continue, with revenue anticipated to boost 0.4% in 2023 alone.
Trends and Insights
- Street vendors prepare and serve food and beverages for consumption from vehicles and carts, limiting initial capital costs and encouraging more operators to enter the food service sector. The food truck craze began to take hold just before the current period.
- Most revenue is derived from the sale of food and drinks to customers who eat it on-the-go. This overwhelming majority is a result of street vendors not typically providing tables and chairs for customers' use.
- Street vendor locations are concentrated in patterns similar to population distributions. Establishments in the Street Vendor industry concentrate near areas close to key market segments, including corporate parks, city streets, breweries, concerts and other venues found in vastly populous regions.
- The Street Vendors industry is highly competitive due to its highly fragmented nature of operations. Competition has surged in recent years as more vendors have entered the industry, offering new and unique products perceived to be underserviced by existing street vendors.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 12.3 % over the past five years, to reach an estimated $3.9bn in 2024.
Trends and Insights
Input price volatility and supply hurdles have challenged street vendor performance
- After pandemic restrictions and workforce infections that limited meat production in 2020, the drop in supply led meat prices to skyrocket. Thus, street vendors have suffered from higher prices of generator fuel to power food trucks and meats, particularly pork and chicken, since 2020.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Travel trends influence street vendors
- The steady growth throughout the outlook period results from consumers postponing travel plans initially made during the pandemic. As the pandemic unfolded, worldwide travel came to a standstill and resulted in serious implications for all businesses associated with tourism.
Biggest companies in the Street Vendors in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Street Vendors in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including American, Desserts and Central and South American. American is the largest segment of the Street Vendors in the US.
Trends and Insights
American street food vendors dominate the industry
- Burgers, hot dogs and other nostalgic foods, like grilled cheese, are heavily immersed in American culture and have driven substantial growth for street vendors over the past half-century.
- More insights available in the full report
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Competitors
- Chain Restaurants in the US
- Single Location Full-Service Restaurants in the US
- Coffee & Snack Shops in the US
- Fast Food Restaurants in the US
Complementors
- Food Service Contractors in the US
- Caterers in the US
International industries
- Global Tourism
- Street Vendors in Canada
- Fast Food and Takeaway Food Services in Australia
- Fast Food and Takeaway Food Services in New Zealand
- Takeaway & Fast-Food Restaurants in the UK
Table of Contents
About this industry
Industry definition
Street vendors comprise establishments primarily engaged in preparing and serving meals and snacks for immediate consumption from motorized vehicles or nonmotorized carts. An establishment is the main location from which the caterer route is serviced, not each cart or vehicle. Included are establishments primarily engaged in providing food services from vehicles, like hot dog carts and ice cream trucks.
What's included in this industry?
Mobile American food stands, carts and vendorsMobile dessert stands, carts and vendorsMobile Central and South American food stands, carts and vendorsMobile Asian food stands, carts and vendorsMobile Mixed ethnicity stands, carts and vendorsMobile Greek Mediterranean stands, carts and vendorsMobile Seafood stands, carts and vendorsMobile snack and beverage stands, cards and vendorsCompanies
Purchase this report to view all major companies in this industry.
Related Terms
WAGON WHEEL CARTMOBILE FOOD PREPARATION VEHICLESINDUSTRIAL CATERING VEHICLESBRICK-AND-MORTARIndustry Code
NAICS 72233 - Street Vendors in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Street vendors prepare and serve food and beverages for consumption from vehicles and carts, limiting initial capital costs and encouraging more operators to enter the food se...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Most revenue is derived from the sale of food and drinks to customers who eat it on-the-go. This overwhelming majority is a result of street vendors not typically providing t...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Street vendor locations are concentrated in patterns similar to population distributions. Establishments in the Street Vendor industry concentrate near areas close to key mar...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The Street Vendors industry is highly competitive due to its highly fragmented nature of operations. Competition has surged in recent years as more vendors have entered the i...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry encompasses numerous small-scale vendors, each controlling less than 5.0% of market share. High fragmentation stems from low barriers to entry, limited market si...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Street vendors typically don’t receive special assistance from the government in the form of import tariffs. However, many cities and counties have trade associations that ad...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit margins tend to be low due to the competitive nature of the industry and the high labor and purchase costs. Product turnover, therefore, needs to be high in order for ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Street Vendors in the US industry in United States in 2024?
The market size of the Street Vendors in the US industry in United States is $3.9bn in 2024.
How many businesses are there in the Street Vendors in the US industry in 2024?
There are 94,730 businesses in the Street Vendors in the US industry in United States, which has grown at a CAGR of 16.8 % between 2019 and 2024.
Has the Street Vendors in the US industry in United States grown or declined over the past 5 years?
The market size of the Street Vendors in the US industry in United States has been growing at a CAGR of 12.3 % between 2019 and 2024.
What is the forecast growth of the Street Vendors in the US industry in United States over the next 5 years?
Over the next five years, the Street Vendors in the US industry in United States is expected to grow.
What does the Street Vendors in the US in United States include?
Mobile American food stands, carts and vendors and Mobile dessert stands, carts and vendors are part of the Street Vendors in the US industry.
How competitive is the Street Vendors in the US industry in United States?
The level of competition is high and increasing in the Street Vendors in the US industry in United States.
