While the larger food-service sector relies on buoyant consumers to drive revenue, the Street Vendors industry has not been as susceptible to volatility in consumer spending and confidence over the past five years. In the five years since the recession, many consumers spent less on discretionary items such as food purchases. However, street vendors were largely able to avoid these potential hindrances by selling food that is even cheaper than traditional fast food restaurants. The public's newfound obsession with food trucks will likely subside over the next five years, but sustained interest from major metropolitan areas will still present some opportunities for growth. Street vendors and the rest of the dining sector will continue to benefit as the economy improves, the unemployment rate declines and consumers spend more money on luxuries such as eating out.
This industry comprises establishments primarily engaged in preparing and serving meals and snacks for immediate consumption from motorized vehicles or nonmotorized carts. The establishment is the main location from which the caterer route is serviced, not each cart or vehicle. Included in this industry are establishments primarily engaged in providing food services from vehicles, such as hot dog carts and ice cream trucks.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.