The street vendors market is estimated to reach US$ 2.5 Billion in 2022. As per the report, sales are forecast to increase at a robust 6% CAGR, with the market valuation reaching US$ 8 Billion by 2032.
A parallel world economy is operated by street sellers. They can be found anywhere, although they tend to congregate in crowded areas like bustling streets, byways, and public squares. They are a unique breed of independent business owners that are dominating the market with their classy manoeuvres, expanded market presence, mobility, and wide range of affordable items.
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The world’s markets are flourishing thanks to street vendors. While the vast shopping centres are stocked with pricey goods, these street vendors frequently supply the market with inexpensive goods, helping many people to live. The creation of self-help organisations that give these street vendors financial support is building a foundation for the expansion of the street vendor ecosystem. Since they contribute to the economy by spreading out the burden and creating jobs for the migrant population, many governments around the world have come to embrace their presence in the market. The expansion of street sellers is being aided by this emerging trend.
Key Takeaways:
- In terms of area, rural areas segment are predicted to account for a dominant share of Travelers in the market through 2032.
- On the basis of commodities, food products is anticipated to hold a major share in the market.
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Street Vendors Market by Category
By Vendor type, Street Vendors Market is segmented as:
- Stationary
- Peripatetic
- Mobile
By Area, Street Vendors Market is segmented as:
- Urban
- Suburban
- Rural
By Commodity, Street Vendors Market is segmented as:
- Food
- Cosmetics
- Clothing
- Daily necessities
- Others
By Region, Street Vendors Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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