General Industry

Although Food Trucks may seem like it is a fairly recent development in the food industry, it has actually been around for quite a long time (since the 1920’s) and it is quickly becoming more and more popular. The market size has been steadily increasing over the past few years. In fact, it multiplied its industry-wide value by four from 2012-2017, and it is still on the rise. The average industry growth from 2015-2020 was around 7.5 percent. The current market size of the Food Truck industry is 1 billion distributed throughout 24,600 businesses. It is an industry that has developed important innovations over a short time, and by quickly responding to the changes in consumer demand, it has been able to successfully meet the needs of American consumers.

Food Truck Industry Trends

The Food Truck Industry has been growing more and more popular over the past few years. The success of food trucks can be attributed to the diversity in options and typically reasonable prices, as well as the transportable setup. Food trucks are also doing very well in creating a positive, familiar dynamic with their consumers. They are finding ways to be resourceful and valuable to their customers by partnering with food delivery services and other food truck owners. By assessing their consumer’s needs, they are shifting the focus to customer relations and promoting positivity with good food.