Street Vendors Market Report 2024

This Street Vendors market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

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 during the historic period can be attributed to several factors such as a stronger representation of diverse cultures, active engagement with local communities, increased participation in catering, the introduction of global flavors to meet diverse tastes, 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 projected growth during the forecast period can be attributed to several factors such as improvements in the quality of goods and services, food safety certification, better-equipped mobile vending units, an increase in health-conscious food options, and the implementation of enhanced safety measures. Major trends expected to drive this growth include the adoption of digital payment systems, the use of eco-friendly packaging and sustainable practices, expansion of product offerings, the establishment of an online presence by street vendors, and the application of innovative marketing strategies.

The growth of the tourism industry is expected to drive the expansion of the street vendors market. The tourism industry includes all activities, services, and businesses catering to travelers and tourists. The increase in tourism is fueled by the promotion of travel and leisure activities, a desire to explore new destinations, experience diverse cultures, and engage in recreational pursuits. As tourism grows, street vendors benefit from increased exposure through travel guides, social media, and word-of-mouth recommendations, leading to a broader customer base and more business opportunities. For instance, in December 2023, the Australian Bureau of Statistics reported that domestic tourism expenditure in Australia surged by $34.9 billion to a total of $124.9 billion in the fiscal year 2022-23. Additionally, international tourism expenditure increased by $17.7 billion, reaching $23.6 billion in chain volume terms. Thus, the rising tourism industry is significantly contributing to the growth of the street vendors market.

Leading companies in the street vendors market are concentrating on innovative solutions, such as portable carts equipped with advanced cooling and storage features, to enhance food preservation. Portable carts are mobile units or vehicles designed with wheels or similar features that street vendors use to sell and store their products. For example, in September 2022, Trane Technologies, a US-based manufacturing company, introduced the Cooling Cart system to address food waste and improve the livelihoods of street vendors, particularly in developing economies. The Cooling Cart features a retrofittable canopy and employs passive cooling technology to extend the shelf life of fresh produce. This innovative cart not only prevents food loss but also boosts the efficiency of food management practices, particularly during last-mile delivery.

In June 2023, Shore Capital Partners, a US-based private equity firm, entered into a partnership with Roaming Hunger. This collaboration aims to accelerate Roaming Hunger’s growth through investments in development, acquisitions, and new service offerings, thereby supporting the success of food trucks and mobile vendors. The partnership also seeks to strengthen local economies and support small businesses. Roaming Hunger, a US-based food company, connects food trucks, trailers, carts, and pop-ups with catering, vending, and promotional opportunities.

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.

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.

The countries covered in the street vendors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Street vendors are individuals who sell goods, merchandise, or food items in public spaces such as streets, sidewalks, parks, and other urban areas. They typically operate from temporary setups such as carts, stands, or portable stalls, rather than permanent retail locations. Street vendors play a vital role in providing affordable and accessible goods and services, particularly in densely populated and urban areas.

The main types of vendors in the street vendors market are stationary, peripatetic, and mobile. Stationary vendors operate from fixed locations, such as kiosks or stalls, offering goods and services within specific areas. These areas can be urban, suburban, or rural, and the commodities sold include food, cosmetics, clothing, daily necessities, and other items.

The street vendors market research report is one of a series of new reports that provides street vendors market statistics, including the street vendors industry global market size, regional shares, competitors with street vendors market share, detailed street vendors market segments, market trends, and opportunities, and any further data you may need to thrive in the street vendors industry. These street vendors market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The street vendors market includes revenues earned by entities by providing services such as food and beverage services, retail services, and personal services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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