With an anticipated market share of US$ 21 billion in 2022, the mobile food services market is expected to rise at a steady CAGR of 6.1% from 2023 to 2033, when it is valued at US$ 40.28 billion globally.
In many thriving cultures, food trucks have played a crucial role. These well-known food trucks made their way throughout the US and quickly gained popularity as a place to buy for groceries. The most recent experimental food itineraries, reasonable prices, and immediate availability gave mobile food services an advantage over competitors.
In 2009, mobile food services completely took over the US and European food and restaurant industries. As time went on, their popularity skyrocketed and they cemented a place in the middle-class population’s life.
In addition to spawning a rival food economy, mobile food services produced a large number of employment in the food industry, giving many would-be restaurateurs and business owners a start.
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Mobile food services are giving a steady challenge to the brick and mortar hotels and keeping the cost of the market in control by creating a competitive ecosystem. The concept of mobile food services is growing in Asia but they are dominating the existing food markets of Australia, Canada, France and several other countries.
As per a report published by the United Nations, a massive portion of the world population feeds on street food, which is offered by these mobile food services. Mobile food services have been the first line of food supplies in countries such as Brazil, Thailand and Indonesia.
Mobile food services are transforming their presentation techniques and also changing their selling strategies. Apart from using digital platforms for branding these mobile food services are also using tailor-made apps and digital payment corridors to enhance the convenience of their customers.
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This business fraternity is facing fierce competition from conventional food joints and they are also finding it hard to adjust to the competition that is emerging every day in their own class. Managing space in a busy populated area is the biggest challenge. Often it becomes hard to gauge the human traffic movement and to extract benefits of the pouring footfalls.
The Key Players in this Market include:
- Kogi BBQ
- Phat Cart
- Cupcakes for Courage
- Yumbii
- Wafels and Dinges
- Restaurant Brands International Inc.
- Ms. Cheezious
- DessertTruck Works
- The Waffle Bus
- Burgerville
- Subway IP LLC
- Lukes Seafood LLC
- OINK and MOO BBQ
- The Grilled Cheeserie
- Darden Restaurants Inc.
- World Famous House of Mac
- McDonald Corp
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
Key Segments Profiled in the Mobile Food Services Market Survey:
By Application:
- Food Truck
- Removable Container
By Product:
- Food
- Beverages
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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