street vendors market, street vendors industry, street vendors market trends, street vendors market size, street vendors market growth, street vendors market forecast
What is the current market size and future outlook for the street vendors market?
The street vendors market size has grown rapidly in recent years. It will grow from $2.68 billion in 2024 to $3.02 billion in 2025 at a compound annual growth rate (CAGR) of 12.7%. 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 $4.79 billion in 2029 at a compound annual growth rate (CAGR) of 12.3%. 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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How has the street vendors market evolved, and what factors have shaped its growth?
The rising tourism industry is expected to propel the growth of the street vendors market going forward. The tourism industry encompasses all the activities, services, and businesses that cater to travelers and tourists. The rise in the tourism industry is due to the promotion and provision of travel and leisure activities, the desire to explore new places, experience diverse cultures, and engage in recreational activities. Tourism can help street vendors gain exposure through travel guides, social media, and word-of-mouth recommendations, leading to a more extensive customer base and increased business opportunities. For instance, in December 2023, according to the Australian Bureau of Statistics, an Australian-based government administration, 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. Therefore, the rising tourism industry is driving the growth of the street vendor’s market.
What are the major segments of the street vendors market?
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
Subsegments:
1) By Stationary: Fixed Stalls, Kiosks, Pop-up Shops
2) By Peripatetic: Market Stall Operators, Street-Side Sellers, Hawkers
3) By Mobile: Food Trucks, Ice Cream Vans, Mobile Merchandise Sellers
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Which companies dominate the street vendors market?
Major companies operating in the street vendors 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
How will evolving trends contribute to the growth of the street vendors market?
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.
What are the key regional dynamics of the street vendors market, and which region leads in market share?
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.
What Does The Street Vendors Market Report 2025 Offer?
The street vendors market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Street vendors are individuals selling goods, merchandise, or food items in public spaces, such as streets, sidewalks, parks, and other urban areas. These vendors operate from temporary setups such as carts, stands, or portable stalls rather than permanent retail locations. Street vendors are crucial in providing affordable and accessible goods and services, especially in densely populated and urban areas.
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