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Food truck industry trends emerging in 2022. Let’s take a closer look at the food truck industry trends that are shaping the space in 2022. Increased costs and prices. Bills across the board are rising for the food truck industry, from start-up costs to inventory expenses.
Food Trucks Market Size, Share & Trends Analysis Report By Type (Customized Trucks, Buses & Vans), By Food Type (Fast Food, Vegan & Meat Plant), By Size (Small, Medium), By Region, And Segment Forecasts, 2021 - 2028
Food Truck Market size was valued at USD 4.3 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. Increasing government initiatives aimed at supporting food entrepreneurs are driving growth in the market.
Expert industry market research on the Food Trucks in the US (2014-2029). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.
To find out more about food truck trends, here are the key statistics on the U.S. food truck industry: There are 36,324 food truck businesses in the U.S. The market size of the U.S. food truck industry is estimated to be $1.48 billion.
The Food Truck Market size is estimated at USD 4.15 billion in 2024, and is expected to reach USD 6.87 billion by 2029, growing at a CAGR of 6.5% during the forecast period (2024-2029). The food truck market has experienced substantial growth over the past decade, emerging as a dynamic and integral part of the broader foodservice industry.
As of 2023, the U.S. food truck market is valued at over $1.2 billion, reflecting the sector’s substantial growth.
First up on our statistics deep dive, we'll explore the growth trends in the food truck industry, highlighting key statistics that show its potential and trajectory. Rise in Numbers: More Trucks, More Variety. The last decade has witnessed a significant increase in the number of food trucks.
The U.S. fleet has risen to 36,324 food trucks as of 2023, up 9.9% from 2022. 12% average annual growth rate since 2016 beats restaurant industry‘s pace. (Chef‘s Store) Global food truck industry expected to expand at 6.8% CAGR from 2021-2028 as concept spreads. (Grand View Research)
The food truck industry growth story has followed an upward trajectory, accelerated by the COVID-19 pandemic as traditional dining channels faced massive disruption. Revenue potential also outpaces conventional restaurants, with the most profitable trucks bringing in over $1.5 million per year [2].
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