Mobile Food Services Market Size, Share, Growth, And Industry Analysis by Type (Barbecue Trucks, Hamburgers Hot dogs Trucks, Coffee and Healthy Drink Trucks, Cupcakes and Desserts Trucks, Street Tacos and Burritos, Lobster Trucks, Ice Cream and Cold Drink Trucks and Other Mobile Trucks) by Application (Streets, Events, and Festivals), Regional Forecast To 2032

Updated On: 08 April 2024

Mobile Food Services Market Report Overview

• 
• Request Free Sample PDF to learn more about this report

The global mobile food services market size was USD 2275.2 million in 2022 and market is projected to touch USD 4602.7 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.3% during the forecast period.

Prepared foods are sold in various sorts of trucks in the catering sector known as Mobile Food Services (MFS). In many countries, it is a distinguishing aspect of urban culture. Mobile food services can be provided by using food trucks, carts, booths, trailers, and other vehicles. Cooking, delivering, and serving meals is another way to define mobile food service. The objective of this restaurant is to serve savory cuisine that has been prepared to strict hygienic standards and is competitively priced. Any company that operates a mobile food service, whether using motorised or non-powered vehicles, is included. Customers can use this service to personalise their menus depending on their preferences. Restaurants of all types, including fast food quick-service, full-service, limited-service, and special food service restaurants, are a part of the mobile food services sector. These incentives are enticing businesses in the food and beverage sector to engage in mobile catering and meal delivery services, which are also utilised to help those in need of food in an emergency.

A busy and more mobile lifestyle, high disposable income, the emergence of businesses that outsource non-core activities, and market expansion in crucial and core industries like transportation and retail, among others, have all significantly fueled the growth of the mobile food services market size. There are now more chances in the market for food services because to factors like tourism, immigration, food dynamics, quick and simple access regardless of geographic barriers, and—most importantly—technological developments like the availability of 4G or 5G internet. By enabling food markets to provide their kitchen to their customers across the world, globalisation is anticipated to open the door for more joint ventures, international investments, global expansion, and multifunctional enterprises to provide better facilities in developed countries. Additionally, globalisation is making it simpler for the food services industry to satisfy consumers by serving them upscale and diverse foods, boosting the industry's profitability. One of the main elements propelling the market significance of worldwide mobile food services is the rise in demand for personalised and creative meal menus. Another important element for mobile food services market growth is the advantages of mobile food service outlets over traditional restaurants.

COVID-19 Impact: Government Restrictions on Social Gatherings and Internal Travel Prohibitions Caused Market Disruption

The industry for mobile food services was severely impacted in 2020 by the global Covid-19 pandemic. Government limitations on social gatherings, as well as bans on internal and foreign travel and services, were implemented in reaction to the virus' fast spread. Such actions taken by national and international governments led to a decline in economic activity, with some nations resorting as a final option to lockdown. The rapid spread of the COVID-19 virus in 2020 has a negative impact on the North American mobile food services market size. Lockdowns were implemented because to the exponential rise in COVID-19 patients in several countries, including the US, Canada, and Mexico. However, in 2021 the local fast food industry had higher expectations thanks to the combination of accelerated vaccine dissemination and ensuing lockout rules relaxing.

Latest Trends

"Marketing Initiatives will have a Favourable Impact on the Market for Mobile Food Services in the Future Years"

The vendors in the global market for mobile food services are concentrating on integrated marketing communication and employing print media, periodicals, and social media sites like Facebook and YouTube to advertise their goods and services. These lines of communication are crucial to the marketing plan for mobile food service operations. The most well-known social networking sites and some of its advantages are listed below: Twitter - Twitter provides a platform for vendors to promote their upcoming events and exhibits. The user base of these platforms, Facebook and Instagram Inc., is extremely diverse. YouTube - Vendors may utilise YouTube as a platform to create informative and fun videos about their food trucks and menu items. LinkedIn - This networking platform helps operators of mobile food services with hiring, developing and showing expertise, and finding the top suppliers and key partners.

Mobile Food Services Market SEGMENTATION

• 
• Request Free Sample PDF to learn more about this report

• By type

Depending on mobile food services given are types: Barbecue Trucks, Hamburgers Hot dogs Trucks, Coffee and Healthy Drink Trucks, Cupcakes and Desserts Trucks, Street Tacos and Burritos, Lobster Trucks, Ice Cream and Cold Drink Trucks, and Other Mobile Trucks. The Lobster Trucks type will capture the maximum market share through 2032.

• By Application

The market is divided in Streets, Events and Festivals based on application. The global mobile food services market players in cover segment like Streets will dominate the market share during 2032.

Driving Factors

"Market for Mobile Food Services is Expanding Due to the Rising Demand for Convenient Meals"

The growing urbanization of the world has increased people's disposable incomes. There is a growing need for food products that are convenient and easy to prepare as a result of increasing urbanization and the high ratio of women in the workforce. As the urban population expands, new habits are taking hold and people's appetites for foreign cuisine are growing. Fast urbanisation, shifting gastronomic preferences, shifting lifestyles, and an increase in nuclear families are a few of the factors for the global mobile food services market growth. Mobile food service providers are becoming more and more prevalent as a result of the trend for on-the-go meals among the working population in many industrialized and developing countries. Due to the growing demand for convenience foods, the mobile food services market share is growing globally, which is driving vendors to broaden the range of mobile food services they provide to QSR clients.

"Mobile Applications for Food Delivery will Aid the Mobile Food Services Market"

The mobile food services market share will keep growing as technology takes over the meal delivery business. The adoption of automation and enhanced procedures in the food industry is increasingly gaining favor since both businesses and consumers benefit. The market for culinary services has seen spectacular expansion, which may be attributed to the social media era, Gen Z, and the twenty-first century. More and more people are placing takeaway orders online and using mobile devices. The development of the global market for culinary services has thus depended heavily on this link between enterprises and end users. Many restaurants are increasingly adapting their menus to client acquisition for takeaways rather than providing a dine-in menu in a takeout area as customers are getting more drawn to at-door services. Meal delivery services that are inexpensive, convenient, and time-saving are expanding the global market. Additionally, the mobile food services market size is expanding due to the success of online ordering and home delivery.

Restraining Factors

"Price Swings in Basic Commodities Would Provide Serious Difficulties for the Mobile Food Services Sector"

Important market raw resources for food manufacturing include vegetables, sugar, grains, meat, salt, and dairy products. Any decrease in the supply of raw materials will have an effect on the mobile food services market growth. Since bad weather and natural disasters have a negative effect on the production of grains and vegetables, they are the primary causes of the scarcity of raw materials. Unfavorable weather conditions have a detrimental effect on agricultural output, which lowers commodity prices globally. Each stage of the supply chain is impacted by crop volume and price swings. Vendors increase the cost of mobile food services due to the high cost of manufacturing and slim profit margins. Maintaining a balance between food cost and quality, however, is essential for providers of these services since the global market for mobile food services is price-driven. Regardless of the cost of production, mobile food service providers must price their products competitively to attract clients since this affects their profit margins.

Mobile Food Services Market Regional Insights

• 
• Request Free Sample PDF to learn more about this report

"North America to Dominate the Global Market Share "

In North America, a thriving industry with a wide range of participants is the mobile food services market. Many businesses are fighting for market share in the highly competitive industry for mobile food services. There are many different companies competing in the highly fragmented lobster truck business. Within the greater food truck sector, the lobster truck market is a specialised market. In the US, the market for mobile food services is expanding quickly. In the last five years, there have been two times as many lobster trucks on the road. Over the following five years, it is anticipated that the market for mobile food services would expand quickly. The increased demand for meals to eat on-the-go and the desire for wholesome, hygienic foods are the main drivers propelling the mobile food services market growth.

Asia Pacific is expected to experience the highest CAGR between 2021 and 2028. Customers in Asian countries including China, Japan, and South Korea choose fast food from the streets, which is anticipated to increase regional product demand. The presence of notable manufacturers in the Asia Pacific region, such as Hanyi Machine and Ante Trailers, is likely to support the market's growth.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Cousins Maine Lobster (U.S)
• Lukes Lobster (U.S)
• Js Lobster (U.S)
• Bite into Maine (U.S)
• Freshies Lobster (U.S)
• Lobsta Truck (|U.S)
• Lobster Dogs Foodtruck (U.S)
• Maine Street Lobster (U.S)
• The Lobster Food Truck (U.S)
• The Happy Lobster (U.S)
• Red Hook Lobster Pound (U.S)
• Lobsterdamus (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.