Global Mobile Food Services Market: About this market
Mobile food service includes a business that serves food and beverages from motorized or non-motorized vehicles. Technavio’s mobile food service market analysis considers the sale of food and beverages. Our analysis also considers the sale of mobile food in APAC, Europe, MEA, North America, and South America. In 2018, the food segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as convenience will play a significant role in the food segment to maintain its market position. Also, our global mobile food service market looks at factors such as rising demand for convenience foods, advantages of mobile food service outlets over brick-and-mortar restaurants, and innovations and customizations in food menus. However, fluctuations in food commodity prices, high propensity toward substitutes, and stringent regulations may hamper the growth of the mobile food service industry.
Global Mobile Food Services Market: Overview
Advantages of mobile food service outlets over brick-and-mortar restaurants
Establishing a mobile food truck requires lesser initial investment compared to brick-and-mortar restaurants. Investing in a mobile food truck offers the flexibility of reaching a wide range of customers and eliminates several complications associated with brick-and-mortar restaurants. Mobile food services enable customers to customize their menus based on their preferences. Also, mobile food service outlets have higher success rates than brick-and-mortar restaurants. These factors are encouraging companies in the food and beverages industry to invest in mobile food services. The advantages of mobile food service outlets over brick-and-mortar restaurants is one of the key factors driving the growth of the global mobile food service market size at a CAGR of almost 5% during the forecast period.
Use of improved equipment and packaging
Mobile food service operators are adopting advanced equipment and sustainable practices in packaging to improve their operational efficiency and achieve cost savings. Several mobile food service operators are replacing aging units with new electronic appliances such as modern refrigerators that comply with new refrigeration standards. Many such advancements among mobile food service operators will have a positive impact on the growth of the global mobile food service market size.
For the detailed list of factors that will drive the global mobile food service market size during the forecast period 2019-2023, click here.
With the presence of several players, the global mobile food service market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several mobile food service providers, that include Kogi BBQ, Luke’s Lobster Holding LLC, Restaurant Brands International Inc., Subway IP LLC, and YUM! Brands Inc.
Also, the mobile food service market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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