Mobile Food Service involves selling of prepared meals and snacks for immediate consumption from motorized and non-motorized vehicles such as food trucks and ice-cream trucks. The mobile food services market is expected to have a significant growth rate driven by increasing demand for convenience food. The several advantages of mobile food service outlets over brick and mortar shops, such as lesser initial capital investment and the flexibility of reaching a wider range of customers, is projected to enhance the mobile food services market in the coming years. However, fluctuation in commodity prices and the presence of stringent regulations is expected to hamper the market growth. The North America region is expected to have a significant market share due to the presence of major market players. According to the Food and Agriculture Organization of United Nations, about 2.5 billion people around the world purchase food from mobile food outlets every day. The Asia Pacific region is estimated to have a notable growth rate due to rising demand for convenience food.
DRIVERS
Rising demand for convenience foods
RESTRAINT
Stringent Government Regulations
INDUSTRY UPDATE
As per July 2019 updates, Yum Brands increasingly focuses on various digital initiatives and refranchising efforts to drive its top and bottom lines.
SEGMENTATION
The mobile food services market has been analysed through the following segments:
By Mobile Food Unit
Trails/ Trucks
Pushcarts
Knockdown Concession
Mobile Cooker
Frozen Food trucks/Carts
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others