New York, United States, August 27, 2024 (GLOBE NEWSWIRE) — The global Mobile Food Delivery Market is expected to grow from USD 22.30 billion in 2023 to USD 42.30 billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.
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Mobile food delivery services prepare and serve food from a moving vehicle, such as a truck, van, or cart. Mobile food delivery has become increasingly popular due to its convenience, flexibility, and ability to reach customers anywhere, including congested city streets and at outdoor events and festivals. Mobile food delivery services cater to a wide range of tastes and dietary needs by offering a variety of cuisines, with many focusing on specific types of food, such as tacos, gourmet sandwiches, or desserts. Food trucks and other mobile food vendors are becoming increasingly popular because they have lower startup costs than traditional restaurants, allowing entrepreneurs to enter the food business with less financial risk. Additionally, mobile food delivery services are known for responding quickly to changing consumer preferences and trends by introducing new and innovative menu items. Global urbanization has increased people’s disposable income. Increasing urbanization and a high proportion of women in the workforce are driving the demand for convenient and easy-to-prepare food items. With the growth of urban population, new habits are emerging and people’s preferences for foreign cuisine are expanding. Rapid urbanization, changing gastronomic preferences, changing lifestyles, and the rise of nuclear families are some of the factors driving the global mobile catering services market. However, fluctuations in the supply of raw materials due to adverse weather conditions and natural disasters are impacting the mobile catering services market.
Browse key industry insights across 240 pages of 110 market data tables and figures & charts from the report on the “Global Mobile Food Delivery Market Size, Share and COVID-19 Impact Analysis, By Application (Food Trucks and Removable Container), By Product (Food and Beverages), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2023 – 2033.”
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The food truck The segment dominates the market with the highest market share in the global mobile food delivery market during the forecast period.
Based on application, the mobile food services market is segmented into food trucks and detachable containers. Among these, the food truck segment dominates the market with the highest market share of the mobile food services market during the forecast period. The rapid rise of the restaurant industry, combined with the growing preference of young people for new dining experiences over the traditional dining in brick-and-mortar establishments, is driving the expansion. Other major factors driving the rise are the growing popularity of mobile lifestyle and growing demand for food on the go. Food truck services are among the most popular dining options and are one of the fastest growing concepts due to their accessibility, affordability, and customizability. The rise of upscale food truck services has been mainly driven by recession-induced trends. Meals on wheels has significantly impacted American society.
The food segment is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period.
Based on product, the global mobile food services market is segmented into food and beverage. Among them, the food segment is expected to grow at the highest CAGR during the forecast period. Donuts, sandwiches, burgers and pizza are sold by numerous regional and international operators in the US and Europe, including RBI and YUM! Traditional meals and dishes from other cultures, combined with local flavors to appeal to local consumers, are among the most popular foods offered by mobile foodservice operators in Asia and South America. These factors will drive consumer demand for meals from mobile foodservice operators.
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North America is expected to hold the largest share of the global mobile food services market during the forecast period.
North America is expected to hold the largest share of the global mobile foodservice market during the forecast period. Mobile foodservice is a thriving industry in North America with diverse participants. The highly competitive mobile foodservice industry has numerous companies vying for market share. Many companies compete in the highly fragmented lobster truck market. The lobster truck market is a distinct sub-segment of the larger food truck industry. In the US, the mobile foodservice market is growing rapidly, with twice as many lobster trucks on the road in the last five years.
Asia Pacific is expected to witness the fastest growth in the global mobile food delivery market during the forecast period. Customers in Asian countries such as China, Japan, and South Korea prefer street food, which is expected to boost the regional product demand. The presence of prominent manufacturers in Asia Pacific such as Hanyi Machine and Ante Trailers is expected to boost the market growth.
Competitive analysis:
The report offers the appropriate analysis of the key organizations/companies involved in the global market along with a comparative assessment primarily based on their product offerings, business overviews, geographical presence, corporate strategies, segment market share, and SWOT analysis. The report also offers an in-depth analysis with a focus on the latest news and developments of the companies which include product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This enables to evaluate the overall competition in the market. Major Vendors in Global Mobile Food Services Market: Kogi BBQ, Phat Cart, Cupcakes for Courage, Odd Burger, Wafels and Dinges, Restaurant Brands International Inc., Ms. Cheezious, DessertTruck Works, The Waffle Bus, Burgerville, Subway IP LLC, Lukes Seafood LLC, OINK and MOO BBQ, The Grilled Cheeserie, Darden Restaurants Inc. and other major companies.
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Recent developments
- In July 2024 The Mobile Food Hub, which visits villages in South Cambridgeshire, launched today in a new electric vehicle.
Market segment
This study forecasts revenue at global, regional and country levels from 2020 to 2033. Spherical Insights has segmented the global mobile food delivery market based on the below mentioned segments:
Global Mobile Food Delivery Market, by Application
- Food truck
- Removable container
Global Mobile Food Delivery Market, by Product
Global Mobile Food Delivery Market, by Regional Analysis
- North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East and Africa
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