The Food Trucks industry's remarkable rise in 2017 has been largely attributable to changing consumer preferences in favor of unique, gourmet cuisine at less expensive prices. Despite a strong industry-wide performance, some food truck operators have been held back by municipal regulations, increased competition and low profit margins. Food trucks compete directly with the broader food-service sector, and some brick-and-mortar establishments have lobbied against the industry. The industry will contend with various challenges over the next five years, especially regulatory hurdles, which have restricted the industry's growth over the past five years. Still, growing household incomes and changing consumer preferences toward healthy and gourmet cuisine will spur growth over the next five years to 2022.
The industry comprises establishments primarily engaged in preparing and serving meals from a mobile truck. Food is normally prepared, stored and cooked on the truck. The truck may or may not use the same location each day and does not sell alcoholic beverages.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.