Street Vendors in the US - Industry Research Report

Second helping: Demand will swell with more travel and outdoor gatherings, however inflationary pressure and budget constraints will test consumers love for discretional spending on street vendor services.

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. The analyst expects street vendor revenue to swell at a CAGR of an estimated 8.8% to reach $2.8 billion through the end of 2023. The food truck craze began to take hold just prior to the current period and has since outperformed the broader food service sector. This steady expansion will continue, with revenue anticipated to boost 1.1% in 2023 alone.

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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.