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Global Food Truck Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast to 2028

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Global Food Truck Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast to 2028

Global Food Truck Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast to 2028

  • Published Date: 21 Apr 2020
  • Report ID: F&B 005
  • Pages:170
  • Base Year: 2019
  • Format: PDF
  • Historical Data: 2016-2019

The Food Truck market is anticipated to grow with a CAGR of 5.3% over the forecast period of 2019-2028. A food truck is a large vehicle that can be a van or trailer, equipped to cook, prepare, serve, and sell food. Some, including frozen dessert trucks, sell frozen or prepackaged food; others have on-board kitchens and prepare food from scratch, or they heat up food that was prepared during a bricks and mortar commercial kitchen. Various fast food products such as sandwiches, hamburgers, french fries, etc., can be sold using a food truck. Food trucks can also sell cold beverages like pop and water. Some may cater to specific meals, like the breakfast truck, lunch truck or lunch wagon, and snack truck, break truck, or taco truck. Food trucks cater events where potential customers gather, and places of normal work or study – college campuses, office complexes, industrial parks, auto repair shops, movie sets, military bases, etc. – where potential customers require regular meals or snacks. The icreasing consumpetion of fast food beverages, rise of busy lifestyles, and rapid urbanization are major factors contributing to the growth of the market.

Top Driver: Increasing Consumption of Fast Food and Busy Lifestyle to Propel the Marlet Growth

The rising number of fast-food trucks is attributed to the growth o the market mainly due to the growing consumption of fast food such as burgers, cold drinks, cakes, hot dogs, etc. Mainly, the working class people and teenagers highly influenced by such food services because these are easily available and favor the busy schedules of people. Moreover, the taste of fast foods attracts the younger population, such as school-going children, due to which the market is expected to boost in the forecast period. Also, rapid urbanization and growing office jobs also contribute to the growth of the market.

Although such food services enjoy great attention, rising health concerns regarding fast food consumption may be a restraining factor for the market.

The Fast-food and Snacks Segment to Observe a Steady Growth in the Market

Based on type, the market is segmented into fast-food and snacks, ice-cream and frozen food, fruits and vegetables, barbeque food, and others. The fast-food and snacks segment held the largest market share owing to the busy lifestyles of people du to which they opt of easy to grab and fast eat foods. moreover, fast food and snacks are widely eaten for smaller breaks that may attribute to the growth of the segment. On the basis of location, the market is segmented into streets, parks, commercial institutions, and others.

North America Occupied the Largest Market Share

North America accounted for the largest market share due to the rising compact and faster lifestyle in various states of America. The rising inclination of consumers towards fast food taste and easy availability of the food trucks are some factors that attributed to the growth of the market. Aisa Pacific is the fastest-growing region owing to the rising urbanization and growing job opportunities for youngsters. Regions such as India, China, Japan, and Australia are expected to drive the APAC market widely.

Players to Focus on Development of Sales Strategies and Mergers

The global Food Truck market is expected to grow with a significant CAGR due to presence of various companies including   Roundup World Street Kitchen, Food Truck India, Food Truck Company B.V., Mallaghan, Prestige Custom Food Truck Manufacturer, EasyTracGPS, Inc., Roaming Hunger, Good Food Truck Company, Custom Concessions and others which are developing new products to drive the market growth.

Frank’s Star Lunch:  Recently, in July 2020, a Pennsylvania reastaurant, Frank’s Star Lunch, launche a new food truck called The Chuck Wagon. The truck offers the restaurant’s smaller version of menu including popular homemade recipes.

FoodTrux: In July 2020, a Portalnd based tech company named Foodtrux, launched a mobile application which is a fully interactive food truck finder. The app is designed to search for food trucks near by using the geographic locations.

Takenaka Vancouver: In July 2020, Takenaka, a chef owner launches a highly anticipated food truck that serves Japanese bentos, rice bowls and appetizers.

Scope of the Report

By Type

  • Fast-food and Snacks
  • Ice cream and frozen food
  • Fruits and vegetables
  • Barbeque food
  • Others

By Location

  • Streets
  • Parks
  • Commercial institutions
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Key Reasons to Purchase this Report

  1. It provides a technological development map over time to understand the growth rate of the industry.
  2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
  3. It renders definite analysis for changing competitive dynamics.
  4. It builds a seven-year estimate based on how the market is predicted to grow.

Table of Content

Chapter 1           Overview And Scope

1.1             Market Vision

1.1.1          Market Definition

1.1.2          Market Scope

1.2             Market Segmentation

Chapter 2           Our Research Practice

2.1             Our Research Methodology

2.2             Data Triangulation

2.3             Data Sources

2.4             Assumptions for the study

2.5             Approach Adopted

Chapter 3           Executive Summary

3.1             Market Snapshot

3.2             Regional Snapshot

3.3             Segment Summary

Chapter 4           Covid-19 Impact Analysis

4.1             Overview

4.2             Prevalence analysis

4.3             Key Factor Impact Analysis

Chapter 5           Global Food Flavors  Market Forces

5.1             What’s Driving the Market

5.2             Porter’s Five Forces Analysis

5.2.1          Power of Suppliers

5.2.2          Threats From New Entrants

5.2.3          Power of Buyer

5.2.4          Threat From Substitute Product

5.2.5          Degree of Competition

Chapter 6           Global Food Flavors  Market -Industry Snapshots

6.1             Overview

6.1.1          Global Food Flavors  Market Value, 2019 – 2028, (US$ Bn)

6.2             Market Overview

6.2.1          Drivers Analysis

6.2.2          Restraint/Challenges analysis

6.2.3          Opportunity Analysis

6.3             Supply Chain/Value Chain Analysis

6.4             Market SWOT Analysis

Chapter 7           Global Food Flavors  Market Analysis, by Type

7.1             Overview

7.2             Key Findings for Food Flavors  Market- By Type

7.2.1          Food Flavors  Market- Chocolate & brown

Food Flavors  market by Type 1, 2019 – 2028 (USD Million)

7.2.2          Food Flavors  Market- Vanilla

7.2.3          Food Flavors  Market- Fruit & nut

Chapter 8           Global Food Flavors  Market Analysis, by Origin Type

8.1             Overview

8.2             Key Findings for Food Flavors  Market- By Origin Type

8.2.1          Food Flavors  Market- Natural

8.2.2          Food Flavors  Market- Natural-identical

Food Flavors  market by Origin Type 2, 2019 – 2028 (USD Million)

8.2.3          Food Flavors  Market- Artificial/Synthetic

Chapter 9           Global Food Flavors  Market Analysis, by Form

9.1             Overview

9.2             Key Findings for Food Flavors  Market- By Form

9.2.1          Food Flavors  Market- Liquid and gel

9.2.2          Food Flavors  Market- Dry

Chapter 10       Food Flavors  Market Analysis by Region

10.1           Key Findings for Food Flavors  Market- By region

10.2           Overview

10.2.1       Global Food Flavors  Market Analysis, By Type, 2019 – 2028

10.2.2       Global Food Flavors  Market Analysis, By Product Type, 2019 – 2028

10.2.3       Global Food Flavors  Market Analysis, By End User, 2019 – 2028

10.3           Food Flavors  Market – North America

10.3.1       Overview

10.3.2       U.S.

10.3.3       Canada

10.3.4       Mexico

10.3.5       North America Market, By Type

10.3.6       North America Market, By Product Type

10.3.7       North America Market, By End User

10.4           Food Flavors  Market – Europe

10.4.1       Overview

10.4.2       Germany

10.4.3       United Kingdom

10.4.4       France

10.4.5       Italy

10.4.6       Rest Of Europe

10.4.7       Europe Market, By Type

10.4.8       Europe Market, By Product Type

10.4.9       Europe market by, End User

10.5           Food Flavors  Market – Asia Pacific

10.5.1       Overview

10.5.2       China

10.5.3       Japan

10.5.4       India

10.5.5       Rest of APAC

10.5.6       Asia Pacific Market, By Type

10.5.7       Asia Pacific Market, By Product Type

10.5.8       Asia Pacific Market, By End User

10.6           Food Flavors  Market –SAMEA

10.6.1       Overview

10.6.2       Middle East & Africa (MEA)

10.6.3       South America

10.6.4       Rest Of World

10.6.5       South America, Middle East and Africa Market, By Type

10.6.6       South America, Middle East and Africa Market, By Product Type

10.6.7       South America, Middle East and Africa Market, By End User

Chapter 11       Market Competition Analysis

11.1           Market Share/Positioning Analysis

11.1.1       Market Positioning of Key Vendors, 2019

11.1.2       Key Strategies Adopted by the Leading Players

11.1.3       Recent Developments

Chapter 12       Company Profiles- Snapshot

12.1.1       Synergy Flavors (US),

12.1.2       Business Fundamentals

12.1.3       Financial Snapshots

12.1.4       Product Portfolio

12.1.5       Recent Developments

12.2           DuPont (US),

12.3           Archer Daniels Midland (ADM) (US),

12.4           Givaudan (Switzerland),

12.5           Kerry Group (Ireland),

12.6           International Flavors & Fragrances (US), Firmenich (Switzerland),

12.7           Symrise (Germany),

12.8           MANE (France),

12.9           Taiyo International (Japan), T.

12.10        Hasegawa (Japan),

*More than 10 Companies are profiled in this Research Report*

*Financials would be provided on a best efforts basis for private companies”

Chapter 13       Appendix

 

 

 

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