The global food trucks market size is expected to reach USD 6.63 billion by 2028, registering a CAGR of 6.8% over the forecast period, according to the report. Rising popularity of events, such as food festivals, carnivals, concerts, and parades, are driving the industry. The growing demand from bars to partner with food trucks to park outside and gain a larger customer base is also anticipated to fuel the overall market growth. The rising demand for unconventional menus has resulted in the demand for food trucks over the last few years. Moreover, a growing inclination towards purchasing meals from mobile food outlets and street kiosks is observed. According to the Food and Agriculture Organization of the United Nations, more than 2.5 billion people across the world purchase food from mobile food outlets including food trucks daily.
The buses & vans segment held the largest revenue share of the global market in 2020 and is expected to maintain dominance over the forecast period. Consumers below the age of 16 years prefer to purchase desserts & confectionaries from ice-cream vans over stores, which is expected to drive the segment growth. Based on a survey by Food Standard Agency in the U.K., the top 10 major ice-cream brands in the country own more than 30 vans, leading to more than 5,000 ice-cream vans in London itself. The fast-food segment accounted for a majority of the overall revenue share in 2020. A large number of consumers prefer fast food owing to convenience. Increasing demand for quick, fresh, appealing, and affordable meals is a major factor contributing to the growth of fast-food trucks across the globe.
Europe dominated the market in 2020 due to increased investments by the region’s food truck operators. For instance, in December 2020, full-service restaurant Sausitos introduced a food truck format in Krefeld, Germany to check for the product sales in that location. Owing to the strong sales in that location, the company invested in more food trucks across areas, such as Bochum, Cologne, and Dresden. However, North America will account for the largest revenue share by 2028 while Asia Pacific will register the fastest CAGR from 2021 to 2028. The market is fragmented with the presence of a large number of international and regional players.
The buses & vans segment held the largest revenue share of the global market in 2020 and is expected to maintain dominance over the forecast period. Consumers below the age of 16 years prefer to purchase desserts & confectionaries from ice-cream vans over stores, which is expected to drive the segment growth. Based on a survey by Food Standard Agency in the U.K., the top 10 major ice-cream brands in the country own more than 30 vans, leading to more than 5,000 ice-cream vans in London itself. The fast-food segment accounted for a majority of the overall revenue share in 2020. A large number of consumers prefer fast food owing to convenience. Increasing demand for quick, fresh, appealing, and affordable meals is a major factor contributing to the growth of fast-food trucks across the globe.
Europe dominated the market in 2020 due to increased investments by the region’s food truck operators. For instance, in December 2020, full-service restaurant Sausitos introduced a food truck format in Krefeld, Germany to check for the product sales in that location. Owing to the strong sales in that location, the company invested in more food trucks across areas, such as Bochum, Cologne, and Dresden. However, North America will account for the largest revenue share by 2028 while Asia Pacific will register the fastest CAGR from 2021 to 2028. The market is fragmented with the presence of a large number of international and regional players.
Food Trucks Market Report Highlights
- Asia Pacific is projected to be the fastest-growing regional market during forecast years. The rising focus of well-established commercial fast-food chains in introducing a fleet of food trucks to meet the rising demand for fast food in the region is a major factor contributing to the growth of this region
- The customized trucks segment is projected to register the fastest CAGR during the forecast period. Factors, such as rising demand for unconventional meal experiences, are expected to propel the demand for customized trucks
- The vegan & meat plant segment is expected to register the fastest CAGR during the forecast period. The rise in veganism across the globe coupled with demand for unique menus are among the major factors driving the segment growth
- For instance, in October 2020, Plantruck, Japan, launched BBQ-flavored vegan chicken burgers and karaagemenus through their food truck based in Osaka and has served more than a hundred thousand consumers
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. TypeOutlook
2.3. Size Outlook
2.4. Food Type Outlook
2.5. Regional Outlook
Chapter 3. Food Trucks Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on the Food Trucks Market
3.4. Industry Value Chain Analysis
3.4.1. Sales/Retail Channel Analysis
3.4.2. Profit Margin Analysis
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. Business Environment Analysis
3.6.1. Industry Analysis - Porter’s
3.6.1.1. Supplier Power
3.6.1.2. Buyer Power
3.6.1.3. Substitution Threat
3.6.1.4. Threat from New Entrant
3.6.1.5. Competitive Rivalry
3.7. Roadmap of Food Trucks Market
3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends and Preference
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. Food Trucks Market: Type Analysis & Estimates
5.1. Type Analysis & Market Share, 2020 & 2028
5.2. Expandable
5.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.3. Boxes
5.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.4. Buses & Vans
5.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.5. Customized Trucks
5.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.6. Others
5.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 6. Food Trucks Market: Size Analysis & Estimates
6.1. Size Analysis & Market Share, 2020 & 2028
6.2. Small
6.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.3. Medium
6.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.4. Large
6.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 7. Food Trucks Market: Food Type Analysis & Estimates
7.1. Food Type Analysis & Market Share, 2020 & 2028
7.2. Barbecue & Snacks
7.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.3. Fast Food
7.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.4. Desserts & Confectionaries
7.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.5. Bakery
7.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.6. Vegan & Meat Plant
7.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.7. Others
7.7.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 8. Food Trucks Market: Country Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2020 & 2028
8.2. North America
8.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.2.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.2.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.2.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.2.5. U.S.
8.2.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.2.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.2.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.2.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.3. Europe
8.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.3.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.3.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.3.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.3.5. Germany
8.3.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.3.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.3.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.3.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.3.6. U.K.
8.3.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.3.6.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.3.6.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.3.6.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.4. Asia Pacific
8.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.4.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.4.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.4.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.4.5. China
8.4.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.4.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.4.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.4.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.4.6. Japan
8.4.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.4.6.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.4.6.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.4.6.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.4.7. South Korea
8.4.7.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.4.7.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.4.7.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.4.7.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.5. Central & South America
8.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.5.5. Brazil
8.5.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.5.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.5.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.5.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.6. Middle East & Africa
8.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.6.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.6.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.6.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
8.6.5. UAE
8.6.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
8.6.5.2. Market estimates and forecast, by type, 2016 - 2028 (USD Million)
8.6.5.3. Market estimates and forecast, by size, 2016 - 2028 (USD Million)
8.6.5.4. Market estimates and forecast, by food type, 2016 - 2028 (USD Million)
Chapter 9. Competitive Analysis
9.1. Key global players, recent developments & their impact on the industry
9.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
9.3. Vendor Landscape
9.3.1. Key company market share analysis, 2020 (%)
Chapter 10. Company Profiles
10.1. Prestige Food Trucks
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. United Food Trucks United, LLC
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Strategic Initiatives
10.3. M&R Trailers
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Strategic Initiatives
10.4. VS VeicoliSpeciali
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Strategic Initiatives
10.5. MRA
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Strategic Initiatives
10.6. Futuristo Trailers
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Strategic Initiatives
10.7. MSM Catering Trucks Manufacturing
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Strategic Initiatives
10.8. The Fud Trailer Company
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Strategic Initiatives
10.9. Food Truck Company B.V.
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Strategic Initiatives
10.10. Bostonian Body, Inc.
10.10.1. Company Overview
10.10.2. Financial Performance
10.10.3. Product Benchmarking
10.10.4. Strategic InitiativesList of Tables
1. Food trucks market - Driving factor market analysis
2. Food trucks market - Market restraint analysis
3. Expandable market estimates and forecast, 2016 - 2028 (USD Million)
4. Boxes market estimates and forecast, 2016 - 2028 (USD Million)
5. Buses & vans market estimates and forecast, 2016 - 2028 (USD Million)
6. Customized trucks market estimates and forecasts, 2016 - 2028 (USD Million)
7. Others market estimates and forecasts, 2016 - 2028 (USD Million)
8. Small sized food trucks market estimates and forecast, 2016 - 2028 (USD Million)
9. Medium sized food trucks market estimates and forecasts, 2016 - 2028 (USD Million)
10. Large sized food trucks market estimates and forecasts, 2016 - 2028 (USD Million)
11. Food trucks market estimates and forecasts, by barbecue & snacks, 2016 - 2028 (USD Million)
12. Food trucks market estimates and forecasts, by fast food, 2016 - 2028 (USD Million)
13. Food trucks market estimates and forecasts, by desserts & confectionary, 2016 - 2028 (USD Million)
14. Food trucks market estimates and forecasts, by bakery, 2016 - 2028 (USD Million)
15. Food trucks market estimates and forecasts, by vegan & meat plant, 2016 - 2028 (USD Million)
16. Food trucks market estimates and forecasts, by other food type, 2016 - 2028 (USD Million)
17. North America food trucks market estimates and forecast, 2016 - 2028 (USD Million)
18. North America food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
19. North America food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
20. North America food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
21. U.S. food trucks market estimates and forecast, 2016 - 2028 (USD Million)
22. U.S. food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
23. U.S. food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
24. U.S. food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
25. Europe food trucks market estimates and forecast, 2016 - 2028 (USD Million)
26. Europe food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
27. Europe food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
28. Europe food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
29. Germany food trucks market estimates and forecast, 2016 - 2028 (USD Million)
30. Germany food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
31. Germany food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
32. Germany food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
33. U.K. food trucks market estimates and forecast, 2016 - 2028 (USD Million)
34. U.K. food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
35. U.K. food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
36. U.K. food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
37. Asia Pacific food trucks market estimates and forecast, 2016 - 2028 (USD Million)
38. Asia Pacific food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
39. Asia Pacific food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
40. Asia Pacific food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
41. China food trucks market estimates and forecast, 2016 - 2028 (USD Million)
42. China food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
43. China food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
44. China food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
45. Japan food trucks market estimates and forecast, 2016 - 2028 (USD Million)
46. Japan food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
47. Japan food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
48. Japan food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
49. South Korea food trucks market estimates and forecast, 2016 - 2028 (USD Million)
50. South Korea food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
51. South Korea food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
52. South Korea food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
53. Central & South America food trucks market estimates and forecast, 2016 - 2028 (USD Million)
54. Central & South America food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
55. Central & South America food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
56. Central & South America food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
57. Brazil food trucks market estimates and forecast, 2016 - 2028 (USD Million)
58. Brazil food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
59. Brazil food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
60. Brazil food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
61. Middle East & Africa food trucks market estimates and forecast, 2016 - 2028 (USD Million)
62. Middle East & Africa food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
63. Middle East & Africa food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
64. Middle East & Africa food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
65. UAE food trucks market estimates and forecast, 2016 - 2027 (USD Million)
66. UAE food trucks market estimates and forecast, by type, 2016 - 2028 (USD Million)
67. UAE food trucks market estimates and forecast, by size, 2016 - 2028 (USD Million)
68. UAE food trucks market estimates and forecast, by food type, 2016 - 2028 (USD Million)
69. Company categorizationList of Figures
1. Food trucks market segmentation
2. Information procurement
3. Primary research pattern
4. Primary research approaches
5. Primary research process
6. Food trucks market - Penetration & growth prospect mapping
7. Food trucks market - Value chain analysis
8. Food trucks market: Porter’s Five Forces Analysis
9. Roadmap of food trucks market
10. Factors affecting buying decisions for food trucks market
11. Food trucks market: Type share (%) analysis, 2020 & 2028
12. Food trucks market: Size share (%) analysis, 2020 & 2028
13. Food trucks market: Food Type share (%) analysis, 2020 & 2028
14. Food trucks market: Regional share (%) analysis, 2020 & 2028
15. Food trucks market share analysis, 2020, (%)
Companies Mentioned
- 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.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | December 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 4.11 Billion |
| Forecasted Market Value ( USD | $ 6.63 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
