Global Food Truck Market Report and Forecast 2024-2032

Global Food Truck Market Size

The global food truck market reached approximately USD 4.34 billion in 2023. The market is projected to grow at a CAGR of 6.60% between 2024 and 2032, reaching a value of around USD 7.78 billion by 2032.

Food Truck Market Outlook

• As per the industry reports in 2022, around 35,500 food trucks were operating in the USA.

• Consumers in the age range of 18 to 34 are the primary patronage of the food trucks.

• Big Cheezy food truck announced the opening of a new restaurant at Louisiana State University, in the United States, in May 2024, which will offer melts and grilled cheeses.

Food Truck Market Growth

The shift in consumer preference towards an innovative meal-provider service other than the regular brick-and-mortar, rising demand for food trucks in events and festivals, and the cost-efficient model of starting a food truck are some of the prominent market drivers. Food trucks offer the provision of mobile kitchens and can serve fresh and hot meals to consumers in different parts of the city and town.

Favourable government initiatives are aimed at strengthening the food truck infrastructure in the country. The Portland Bureau of Transportation (PBOT) announced the initiation of a novel food truck program in 2024, under which food truck vendors can acquire permits and operate on city streets, thereby boosting foot traffic in the central city of Portland.

The traditional food service providers are now also offering their food products on food trucks to boost their revenue. For instance, Gio Chicago Pizza announced in March 2024 that it is set to launch a food truck to enhance its reach among consumers.

Food Truck Industry Segmentation

“Food Truck Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Vans

• Trailers

• Trucks

• Others

Market Breakup by Size

• Small and Medium

• Large

Market Breakup by Food Type

• Fast Food

• Bakery

• Desserts and Confectionary

• Vegan and Meat Plants

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Food Truck Market Share

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe occupies a significant share of the market due to the rise of events and festivals, government schemes that provide funding and assistance for food truck programs, and the entrance of brick-and-mortar food suppliers into the food truck sector.

Leading Companies in the Food Truck Market

The market players are expanding their operations to gain a competitive edge in the market.

• Prestige Food Trucks

• United Food Truck LLC

• VS Special Design srl

• Futuristo Trailers

• M&R Specialty Trailers And Trucks

• The Fud Trailer Company

• Msm Catering Trucks Mfg. Inc.

• Food Truck Company

• One Fat Frog

• Foodtrucker Engineering LLP

• Others

Key Highlights of the Report