Food Trucks Market

Food Trucks Market Size, Share, Growth Analysis, By Type(Expandable, Boxes, Buses & Vans, Customized Trucks), By Size(Small, Medium, Large), By Food Type(Barbecue & Snacks, Fast Food, Desserts & Confectionary, Bakery), By Region(North America, Europe, Latin America, Asia Pacific) - Industry Forecast 2024-2031


Report ID: UCMIG30I2182 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Food Trucks Market Insights

Market Overview:

The global food trucks market was worth USD 3.93 billion in 2020, and it is predicted to develop at a CAGR (compound annual growth rate) of 6.8% between 2021 and 2028. A spike in gastronomy around the world, combined with increased customer demand for innovative dining experiences over traditional physical restaurant experiences, is likely to boost the industry during the forecasted period. The COVID-19 outbreak reduced worldwide demand for food services, particularly the food truck industry. Specifically, countries such as the United States, China, and the United Kingdom have seen cancellations of events such as food festivals & parades, resulting in a drop in food truck sales. Store closures owing to severe lockdown measures had disastrous results, with global sales dropping by 50% from March to April 2020.

Food Trucks Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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FAQs

The market for Food Trucks was estimated to be valued at US$ XX Mn in 2021.

The Food Trucks Market is estimated to grow at a CAGR of XX% by 2028.

The Food Trucks Market is segmented on the basis of Type, Size, Food Type, Region.

Based on region, the Food Trucks Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Food Trucks Market are , Prestige Food Trucks, United Food Trucks United, LLC, M&R Trailers, VS VeicoliSpeciali, MRA, Futuristo Trailers, MSM Catering Trucks Manufacturing, The Fud Trailer Company, Food Truck Company B.V., Bostonian Body, Inc..

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Food Trucks Market

Report ID: UCMIG30I2182

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