Press release
Mobile Food Truck Market Report, Size, Share, Growth, Trends, Industry Analysis, Forecast to 2033
The new report published by The Business Research Company, titled Mobile Food Truck Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the mobile food truck market size has grown rapidly in recent years. It will grow from $1.80 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The mobile food truck market size is expected to see rapid growth in the next few years. It will grow to $4.08 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%.
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What Is Driving The Growth Of The Global Mobile Food Truck Market?
Rising Fast Food Consumption Fuels Growth In Mobile Food Truck Market
The increasing consumption of fast food is expected to propel the growth of the mobile food truck market going forward. Fast food refers to quickly prepared, often pre-packaged meals or snacks for quick consumption. Fast food consumption is rising due to its convenience, affordability, and the increasing pace of modern lifestyles, which often prioritize quick and easy meal options over healthier alternatives. Mobile food trucks enhance the fast-food industry by offering a convenient and accessible way to serve quick, on-the-go meals in diverse locations. They expand the reach and availability of fast-food options to a broader audience. For instance, in June 2023, according to the Aviko, a Netherlands-based food company, the UK fast food sector grew by 9%, increasing from $20.57 billion in 2021 to $22.44 billion in 2022. Therefore, the increasing consumption of fast food is driving the growth of the mobile food truck market.
What Is The Key Trend In The Global Mobile Food Truck Market?
Integration of Hydrogen Fuel Cell Technology in Mobile Food Trucks
Major mobile food truck market companies are increasingly focusing on developing advanced products, such as hydrogen fuel cell food trucks, to offer zero-emission benefits and promote sustainability. A hydrogen fuel cell food truck is a mobile food service vehicle powered by hydrogen fuel cell technology. This type of truck uses hydrogen gas to generate electricity through an electrochemical reaction, which powers the vehicle's electric motors and kitchen equipment. For instance, in April 2023, Toyota Australia, an Australia-based automotive manufacturing company, launched FCV Express Diner, a hydrogen-powered food truck with a mobile kitchen. It includes induction cooktops, an oven, and other appliances, all powered by its fuel cell. It showcases the potential of hydrogen technology for providing sustainable and zero-emission food service. It is engineered to fulfill various functions, adapting to diverse environments and requirements, making it ideal for commercial and emergencies. Additionally, the vehicle can serve as a mobile generator, providing electricity for external power needs, increasing its versatility in different settings.
How Is The Global Mobile Food Truck Market Segmented?
The mobile food truck market covered in this report is segmented -
1) By Product Type: Unpowered Food Truck, Electric Food Truck, Gasoline Food Truck
2) By Size: Small, Medium, Large
3) By Application: Scenic Spot, Street, Other Applications
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How Is The Competitive Landscape Of The Global Mobile Food Truck Market?
Major companies operating in the mobile food truck market are Starbucks Corporation, Airstream Inc., Mallaghan Engineering, Ltd., Custom Concessions Inc., Roaming Hunger LLC, Baskin-Robbins, AA Cater Truck Manufacturing Co Inc - Company Profile, Cruising Kitchens LLC, Bella Manufacturing, Apex Specialty Vehicles, M&R Specialty Trailers & Trucks Inc., Curbside Kitchen Inc., Prestige Food Trucks, MSM Catering Trucks Manufacturing Inc., Venture Food Trucks, Bostonian Body Inc., San Diego Food Truck Pros, KoJa Kitchen, United Food Truck, Prime Design Food Trucks, California Cart Builder, Stone Press Food Truck, Chameleon Concessions, Schickwheel, Venus Motors
Contents Of The Global Mobile Food Truck Market
1. Executive Summary
2. Mobile Food Truck Market Report Structure
3. Mobile Food Truck Market Trends And Strategies
4. Mobile Food Truck Market - Macro Economic Scenario
5. Mobile Food Truck Market Size And Growth
…..
27. Mobile Food Truck Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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