Food trucks have been an integral part of many vibrant societies. These popular mobile food joints populated the US and soon became a very popular window for food shopping. The instant availability, affordable pricing and latest experimental food itinerary helped mobile food services earn an edge over contenders. Mobile food services have flooded the entire food and restaurant market in the US and Europe in 2009 and with passing time their popularity soared and mobile food services reserved their space in the lives of the middle-class population. Mobile food services not only created a parallel food based economy but also generated massive jobs in the food sector and many of the aspiring chefs and entrepreneurs found a foothold in the food industry. The technological advancements in the sector have helped mobile food services gain momentum. Social media platforms have given a much-needed publicity while advanced GPS services have brought mobile food services closer to consumers. The surging popularity of food trucks amongst commoners has created a new avenue for this business model. Several countries across the globe have allotted specific space to food trucks to expedite their sale.
To popularise the concept of food trucks several countries have organised food truck rallies. Mobile food services are a robust source of revenue and also an extremely low investment profitable venture for startups. Mobile food services provide employment and cheap food to the mass population. In the US the mobile food services industry has reached a few billion dollars and the industry is expected to grow manifold in the coming years. Mobile food services are giving a steady challenge to the brick and mortar hotels and keeping the cost of the market in control by creating a competitive ecosystem. The concept of mobile food services is growing in Asia but they are dominating the existing food markets of Australia, Canada, France and several other countries. As per a report published by the United Nations, a massive portion of the world population feeds on street food, which is offered by these mobile food services. Mobile food services have been the first line of food supplies in countries such as Brazil, Thailand and Indonesia.
Mobile food services are transforming their presentation techniques and also changing their selling strategies. Apart from using digital platforms for branding these mobile food services are also using tailor-made apps and digital payment corridors to enhance the convenience of their customers. This business fraternity is facing fierce competition from conventional food joints and they are also finding it hard to adjust to the competition that is emerging every day in their own class. Managing space in a busy populated area is the biggest challenge. Often it becomes hard to gauge the human traffic movement and to extract benefits of the pouring footfalls.
Mobile Food Services: Game Changers
Mobile food services are growing worldwide and the market is expanding. The massive global economic meltdown and soaring number of unemployed youths are pushing many towards this sort of low budgeted business. To adjust with the fast paced lifestyle people are adapting to the new medium of food supply. Enhanced food safety awareness amongst the people is providing leverage to mobile food services. The startup trend across the world is also pushing the growth of mobile food services.
Mobile Food Services: Restraints
Many countries across the globe including the US have regulated the movement and growth of this segment. Regular checkups are conducted on food trucks to maintain food quality and this has created hurdles in the free growth of this segment. The brick and mortar restaurants and other renowned food chains are facing enormous competition from these small time traders and in many countries big restaurant lobbies are influencing lawmakers to frame adverse laws to check the organic growth of mobile food services.
Mobile Food Services: Top Players
There are several renowned mobile food services available across the world. Some of the famous mobile food service providers include Kogi BBQ, Phat Cart, Cupcakes for Courage, Yumbii, Wafels and Dinges, Ms Cheezious, The Waffle Bus.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
What Can Readers Expect from this Report?
- An overview of the sector, including the key factors that have shaped patterns and demand
- Not just data, but insights that you can incorporate in your strategic decision making
- Nuanced underlying factors that influence consumer behaviour
- Data points to understand the past, analyse the present, and project the future
- Trends that will impact the sector in the short- and long-term
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers
Mobile Food Services Overview
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.