United States Food Truck Market Size (2024 - 2029)

United States Food Truck Market Analysis

The United States Food Truck Market size is estimated at USD 1.02 billion in 2024, and is expected to reach USD 1.41 billion by 2029, growing at a CAGR of 6.67% during the forecast period (2024-2029).

Over the long term, consumers' shifting preference toward quick and convenient meal options, the high urbanization rate, and the increasing demand for fast-food consumption will serve as significant determinants for the growth of the US food truck market. Moreover, the increasing demand for meal options offered at lower prices among college-going students further catalyzes the increasing preference for customizable food trucks.

• According to the National Center for Education Statistics (NCES), the public college enrollment in the United States touched 13.49 million in 2022, while the private college enrollment in the country stood at 5.09 million during the same period.
• Further, the United States is one of the leading countries in the world, with the highest number of universities worldwide as of July 2023, amounting to approximately 3,180 establishments.

Due to the lower cost of operating a food truck compared to a traditional brick-and-mortar restaurant, more individuals prefer to launch their food truck brand. The quicker turnaround service time at these establishments is also convenient for consumers with a busy schedule. Therefore, food trucks are becoming popular in urban areas and congested cities. Furthermore, fast-food consumption among consumers has surged significantly in recent years, which various food trucks across the United States offer. Brand popularity and food quality are pivotal in enhancing brand presence.

In the coming years, although the expanding online food delivery services market is expected to hamper the industry's growth, the growing student and working-age population preferring to opt for faster food services will drive the demand for food trucks. Various manufacturers operating in the sector are strategizing to offer customizable food trucks as each owner has different requirements in terms of kitchen size and the overall size of the vehicles. With the increasing preference for consuming beverages and international cuisines in the United States, the food truck market is expected to surge significantly between 2024 and 2029.

United States Food Truck Industry Segmentation

A food truck is a large motorized vehicle such as a van, multi-stop truck, or trailer equipped to store, transport, cook, and sell food. Some food trucks also have an on-board kitchen, which can utilized to prepare food from scratch.

The US food truck market is segmented by type, application, and size. By type, the market is segmented into vans, trailers, customized trucks, and others (expandable food trucks, etc.). By application, the market is segmented into fast food, vegan and plant meat, barbeque and snacks, desserts and confectionery, and others (fruits and vegetables, etc.). By size, the market is segmented into up to 15 feet, 16-25 feet, and above 25 feet.

The report offers market size and forecasts for food trucks in value (USD) for all the above segments.