The street vendors global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Street Vendors Market, 2024 The street vendors global market report 2024
Market Size –
The street vendors market size has grown rapidly in recent years. It will grow from $2.39 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to stronger representation of diverse cultures, active engagement with local communities, increasing participation in catering, introduction of global flavors to cater, and stricter health and safety standards.
The street vendors market size is expected to see rapid growth in the next few years. It will grow to $4.27 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to improving the quality of goods and services, food safety certification, well-equipped mobile vending units, increase in health-conscious food options, and implementation of enhanced safety measures. Major trends in the forecast period include adoption of digital payment systems, use of eco-friendly packaging and sustainable practices, expansion of product offerings, online presence of street vendors, and use of innovative marketing strategies.
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Scope Of Street Vendors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Street Vendors Market Overview
Market Drivers –
The rising tourism industry is expected to significantly boost the growth of the street vendors market in the foreseeable future. The tourism industry encompasses all activities, services, and businesses that cater to travelers and tourists. The growth of this industry is driven by the promotion and provision of travel and leisure activities, as well as the desire to explore new places, experience diverse cultures, and engage in recreational activities. Tourism can enhance the visibility of street vendors through travel guides, social media, and word-of-mouth recommendations, resulting in a broader customer base and increased business opportunities. For example, in December 2023, the Australian Bureau of Statistics, an Australian government administration, reported that in the fiscal year 2022-23, Australian domestic tourism expenditure surged by $34.9 billion, reaching a total of $124.9 billion. Meanwhile, international tourism experienced a $17.7 billion increase, bringing the total to $23.6 billion in chain volume terms. Consequently, the rising tourism industry is driving the growth of the street vendors market.
Market Trends –
Major companies operating in the street vendors market are focusing on developing innovative products, such as portable carts with advanced cooling and storage features, to improve food preservation. Portable carts refer to mobile units or vehicles designed with wheels or similar mobility features street vendors use to sell and store their goods. For instance, in September 2022, Trane Technologies, a US-based manufacturing company, launched a Cooling Cart system to address food waste and enhance livelihoods, particularly for street vendors in developing economies. The Cooling Cart features a retrofittable canopy and uses passive cooling technology to extend the shelf life of fresh produce for street vendors. Utilizing the latest advancements in passive cooling technology, the revolutionary cooling cart not only effectively prevents food loss but also enhances the livelihoods of small-scale farmers. It represents a significant improvement in food systems by increasing the efficiency of food management practices, especially during last-mile delivery.
The street vendors market covered in this report is segmented –
1) By Vendor Type: Stationary, Peripatetic, Mobile
2) By Area: Urban, Suburban, Rural
3) By Commodity: Food, Cosmetics, Clothing, Daily Necessities, Other Commodities
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Regional Insights –
North America was the largest region in the street vendors market in 2023. The regions covered in the street vendors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Starbucks Corporation, Chipotle Mexican Grill Inc., Dippin’ Dots, Halal Guys, Sabrett , Kogi BBQ , Roaming Hunger, Curry Up Now, Wafels & Dinges, Coolhaus, Big Gay Ice Cream, Mister Softee , The Cinnamon Snail, Crepes Bonaparte, The Lime Truck, Rito Loco, Auntie Anne’s, Bizz On Wheels, The Taco Truck LLC, Kimchi Taco Truck, Buldogis, Fryborg Food Truck, Cousins Maine Lobster LLC, Fukuburger Truck, The Grilled Cheese Truck
Table of Contents
1. Executive Summary
2. Street Vendors Market Report Structure
3. Street Vendors Market Trends And Strategies
4. Street Vendors Market – Macro Economic Scenario
5. Global Street Vendors Market Size and Growth
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32. Global Street Vendors Market Competitive Benchmarking
33. Global Street Vendors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Street Vendors Market
35. Street Vendors Market Future Outlook and Potential Analysis
36. Appendix
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