The Street Vendors industry has surged ahead over the past five years due to renewed consumer demand for unique and gourmet food products. This trend gained momentum as the fast food and food service industries slowed down significantly, as a result of changing consumer tastes and heightened competition. Over the five-year period, many consumers have increased their spending on eating out; nevertheless, many people have still opted for lower-priced items and convenience. Furthermore, the general trend toward healthy eating over recent years has hurt sales for street vendors that offer greasy, high-calorie meals. Yet, despite an increasingly health-conscious consumer base, renewed fascination with street foods in the United States has offset some of these trends. Despite strong recent growth, demand is expected to slow down over the next five years, as this recent fad slowly subsides and the industry becomes saturated.
This industry comprises establishments primarily engaged in preparing and serving meals and snacks for immediate consumption from motorized vehicles or nonmotorized carts. The establishment is the main location from which the caterer route is serviced, not each cart or vehicle. Included in this industry are establishments primarily engaged in providing food services from vehicles, such as hot dog carts and ice cream trucks.
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.