Mobile Food Services - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Mobile Food Services Market is expected to grow at a CAGR of 7.1% during the forecast period. Some of the key factors propelling the market growth include rising demand for convenience foods, advantages of mobile food service outlets over brick-and-mortar restaurants, and innovations and customizations in food menus. However, fluctuations in food commodity prices and stringent regulations may hamper the growth of the mobile food service industry.
Mobile food service includes a business that serves food and beverages from motorized or non-motorized vehicles. These 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. 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.
By type, food segment is expected to grow at the significant rate during the forecast period, due to evolving lifestyles, rapid urbanization, changing food preferences, and the growing number of nuclear families. The demand for convenience foods has also increased due to the increase in urban population and change in lifestyles. Therefore, with market players offering innovative offerings, the mobile food services market size is expected to grow considerably in the upcoming years.
On the basis of geography, Asia pacific region is expected to have considerable market growth during the forecast period, due to the presence of several mobile food service vendors in the emerging economies. Rapid urbanization in India and China has indirectly impacted food consumption patterns due to the increase in the working population. In addition, increased income levels and growing popularity of western foods are factors that are likely to create growth opportunities for mobile food services in APAC. Furthermore, the increasing demand for fast food is also encouraging international vendors to expand their food service offerings in South Korea and China.
Some of the key players in mobile food services market include Subway IP LLC, Burgerville, Baby's Badass Burgers, DessertTruck Works, Bian Dang, Luke's Lobster Holding LLC, Don Chow Tacos, Chef Shack, Flying Pig Truck, Restaurant Brands International Inc., YUM! Brands Inc., Kogi BBQ, Phat Cart, Cupcakes for Courage, Yumbii, Wafels and Dinges, Ms Cheezious, Waffle Bus, Cousins Maine Lobster, OINK and MOO BBQ, and The Cow and The Curd .
Distribution Channels Covered:
End Users Covered:
• Food Truck
• Removable Container
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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