The Business Research Company’s Food Truck Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Food Truck Global Market Report 2023 evaluates food truck market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global food truck market is expected to grow from the food truck market size has grown strongly in recent years. It will grow from $3.73 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to food diversity, urbanization, rise of social media platforms, food truck festivals and events, government support for small businesses, popularity of mobile food ordering appsThe food truck market size is expected to see strong growth in the next few years. It will grow to $5.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
The growing popularity of street food is expected to propel the growth of the food truck market going forward. Street food is defined as prepared, ready-to-eat food served by hawkers or sellers on the streets and in other public places. It is often less expensive than restaurant meals, making it a popular option for those on a tight budget. Food trucks are a popular way to sell street food as they offer several advantages over traditional brick-and-mortar restaurants, such as the ability to reach a wider customer base and more flexibility in terms of hours of operation. For instance, in 2023, according to Tastewise, an Israel-based provider of AI-powered data platform for food & beverage, around 3274 restaurants currently offering Street food on their menu and social conversations about street food increased from 0.228% in December 2022 to 0.2733% in March 2022. Therefore, the growing popularity of street food is driving the growth of the food truck market.
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The food truck market segments in the report are:
1) By Type: Expandable, Boxes, Buses And Vans, Customized Trucks, Other Types
2) By Size: Small, Medium, Large
3) By Application: Fast Food, Vegan And Meat Plants, Bakery, Other Applications
The table of contents in TBRC’s food truck market report includes:
- Executive Summary
- Food Truck Market Characteristics
- Food Truck Market Trends And Strategies
- Food Truck Market – Macro Economic Scenario
- Global Food Truck Market Size and Growth
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- Global Food Truck Market Competitive Benchmarking
- Global Food Truck Market Competitive Dashboard
- Key Mergers And Acquisitions In The Food Truck Market
- Food Truck Market Future Outlook and Potential Analysis
- Appendix
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