Wilmington, Delaware, Oct. 11, 2023 (GLOBE NEWSWIRE) -- US Food Truck Services Market value is US$ 1.3 billion in 2023 and is expected to grow at a significant CAGR of over 6.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Food truck services comprise the operation of mobile kitchens that produce and sell meals and beverages to consumers on the go. Food trucks include cooking equipment, allowing them to serve cuisines ranging from street food staples to gourmet cuisine. Food truck vendors frequently choose certain sites or events to set up shop, catering to crowds at festivals, concerts, office buildings, universities, and other public spaces.
The proliferation of food-focused television shows, blogs, and social media platforms has aided in the development of a foodie culture in which consumers actively seek out unusual and tasty culinary experiences. Food trucks, with their inventive cuisine, are a natural fit for this food-centric movement.
- According to a deep-dive market assessment by RationalStat, the US food truck services market has been analyzed on the basis of market segments, including offering, cuisine type, platform, and geography/regions (including West US, Midwest US, Northeast US, South US). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the US food truck services market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the US food truck services market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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US Food Truck Services Market: Segmental and Market Share Analysis
- On the basis of offering, in 2022, the food segment had the highest revenue share of more than 75%. Fast food consumption has expanded dramatically in the U.S. as a result of low cost, convenience, and a wide range of cuisines and flavors.
- On the basis of cuisine type, Mexican cuisine segment held the biggest market share of 34% in 2022. Mexican cuisines provide more nutritional options for health-conscious consumers than other types of cuisines.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1.3 billion |
| Market Size Forecast | US$ 2.0 billion |
| Growth Rate | 6.8% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the US Food Truck Services market include,
- In August 2021, Shake Shack launched its first ever food truck in Los Angeles. The food truck will offer burger fixes, hot honey fries, and hot honey chicken sandwiches.
Some of the prominent players and suppliers operating and contributing significantly to the US Food Truck Services market growth include Kogi BBQ, The Halal Guys, Cousins Maine Lobster, LLC, Waffle House, Inc., Food Truck Empire, Coolhaus, Street-Za, Fuku Burger, Big Gay Ice Cream, and Ve-Go Food Truck, among others.
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RationalStat has segmented the US Food Truck Services market based on offering, cuisine type, platform and region
- US Food Truck Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Offering
- Food
- Non-vegetarian
- Vegetarian
- Vegan
- Beverages
- Alcoholic
- Non-Alcoholic
- Dessert and Ice Creams
- Food
- US Food Truck Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Cuisine Type
- Chinese
- Japanese
- Mexican
- Italian
- American
- Others
- US Food Truck Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Platform
- Mobile Vending
- Online Delivery
- US Food Truck Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- US Food Truck Services Market
- West Us
- Midwest US
- Northeast US
- South US
- US Food Truck Services Market
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Key Questions Answered in the Food Truck Services Report:
- What will be the market value of the US Food Truck Services market by 2030?
- What is the market size of the US Food Truck Services market?
- What are the market drivers of the US Food Truck Services market?
- What are the key trends in the US Food Truck Services market?
- Which is the leading region in the US Food Truck Services market?
- What are the major companies operating in the US Food Truck Services market?
- What are the market shares by key segments in the US Food Truck Services market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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