$2.4bn
$XXX.Xm
63,018
58,064
$XXX.Xm
Food trucks have seen significant growth over the last five years, cementing their position as a standout in the broad food services sector. Notably, this expansion is largely due to evolving consumer tastes shifting in favor of unique, gourmet cuisine offered at prices lower than those in traditional sit-down restaurants. The industry has thrived, with cities like Portland, LA, and Austin passing regulations and establishing designated areas for this new wave of culinary delights. Despite the economic pressure from the COVID-19 pandemic in 2020, the industry revenues stayed resilient. Industry revenue is expected to reach $2.4 billion, with an annualized growth rate of 10.3% over the five years to 2024.
Industry revenue has grown at a CAGR of 10.9 % over the past five years, to reach an estimated $2.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
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2024 | Profit Margin (%)
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There are no companies that hold a large enough market share in the Food Trucks in the US industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including American, Central and South American and Other. American is the largest segment of the Food Trucks in the US.
The ‘burger trend' strikes gold for American-style food trucks
The industry comprises establishments primarily engaged in preparing and serving meals from a mobile truck. Food is normally prepared, stored and cooked on the food truck. The food truck may or may not use the same location each day and does not sell alcoholic beverages.
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NAICS 72233 - Food Trucks in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Food trucks are dependent on foot traffic. Consumers returning to urban areas and back to the office will drive sales growth.
Learn about an industry's products and services, markets and trends in international trade.
Younger adults are more adventurous and have the disposable income to spend at food trucks. Aging consumers are more apt to go to sit-down restaurants for the atmosphere.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Food trucks gravitate toward cities with easing regulations. High fees and expensive licenses and permits deter food trucks from setting up shop there.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Food trucks compete to attract customers by providing the best quality and taste. Convenience is another way to compete, by offering a quick, satisfying meal at optimal locat...
Learn about the performance of the top companies in the industry.
No food truck controls more than 5.0% of market share because of the sheer number of operators. The low barrier to entry enables new entrants, growing the fragmented industry...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Food trucks are largely dependent on consumer trend. Shifts in consumer preferences and confidence play a major role in performance.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Food trucks depend on labor-intensive roles to function. During periods of high demand, hiring of employees can drive up wages.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Food Trucks in the US industry in United States is $2.4bn in 2024.
There are 58,064 businesses in the Food Trucks in the US industry in United States, which has grown at a CAGR of 15.9 % between 2019 and 2024.
The market size of the Food Trucks in the US industry in United States has been growing at a CAGR of 10.9 % between 2019 and 2024.
Over the next five years, the Food Trucks in the US industry in United States is expected to grow.
Preparing and serving food from a mobile truck and Preparing and serving beverages from a mobile truck are part of the Food Trucks in the US industry.
The level of competition is high and increasing in the Food Trucks in the US industry in United States.