$3.9bn
$XXX.Xm
105k
94,730
$X.Xbn
Street vendors are poised to rebound following major disruptions that came as a result of COVID-19. These vendors have seen growth through the end of 2023 because of heightened consumer demand for unique food products and more outdoor gatherings, though revenue also benefited later in 2020 due to falling demand for indoor dining. Street vendors prepare and serve food and beverages for consumption from vehicles and carts, limiting initial capital costs and expanding appeal for vendors attempting to enter the food service sector for the first time. IBISWorld expects street vendor revenue to swell at a CAGR of an estimated 12.3% to reach $3.9 billion through the end of 2024. The food truck craze began to take hold just prior to the current period and has since outperformed the broader food service sector. Further, rising inflation have reduced disposable, inducing customers to frequent street vendors due to their low price points. This steady expansion will continue, with revenue anticipated to boost 0.4% in 2023 alone.
Industry revenue has grown at a CAGR of 12.3 % over the past five years, to reach an estimated $3.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
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There are no companies that hold a large enough market share in the Street Vendors in the US industry for IBISWorld to include in this product.
Street Vendors in the US
Industry revenue is measured across several distinct product and services lines, including American, Desserts and Central and South American. American is the largest segment of the Street Vendors in the US.
American street food vendors dominate the industry
Street vendors comprise establishments primarily engaged in preparing and serving meals and snacks for immediate consumption from motorized vehicles or nonmotorized carts. An establishment is the main location from which the caterer route is serviced, not each cart or vehicle. Included are establishments primarily engaged in providing food services from vehicles, like hot dog carts and ice cream trucks.
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NAICS 72233 - Street Vendors 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.
Street vendors prepare and serve food and beverages for consumption from vehicles and carts, limiting initial capital costs and encouraging more operators to enter the food se...
Learn about an industry's products and services, markets and trends in international trade.
Most revenue is derived from the sale of food and drinks to customers who eat it on-the-go. This overwhelming majority is a result of street vendors not typically providing t...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Street vendor locations are concentrated in patterns similar to population distributions. Establishments in the Street Vendor industry concentrate near areas close to key mar...
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.
The Street Vendors industry is highly competitive due to its highly fragmented nature of operations. Competition has surged in recent years as more vendors have entered the i...
Learn about the performance of the top companies in the industry.
The industry encompasses numerous small-scale vendors, each controlling less than 5.0% of market share. High fragmentation stems from low barriers to entry, limited market si...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Street vendors typically don’t receive special assistance from the government in the form of import tariffs. However, many cities and counties have trade associations that ad...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins tend to be low due to the competitive nature of the industry and the high labor and purchase costs. Product turnover, therefore, needs to be high in order for ...
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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The market size of the Street Vendors in the US industry in United States is $3.9bn in 2024.
There are 94,730 businesses in the Street Vendors in the US industry in United States, which has grown at a CAGR of 16.8 % between 2019 and 2024.
The market size of the Street Vendors in the US industry in United States has been growing at a CAGR of 12.3 % between 2019 and 2024.
Over the next five years, the Street Vendors in the US industry in United States is expected to grow.
Mobile American food stands, carts and vendors and Mobile dessert stands, carts and vendors are part of the Street Vendors in the US industry.
The level of competition is high and increasing in the Street Vendors in the US industry in United States.