As a food truck business owner, it is important to be aware of the latest food truck trends and statistics. By keeping up with the latest trends, you can ensure that your food truck business remains successful and relevant. In this article, we will discuss some of the key food truck trends and statistics to watch.
Benefits of Looking at the Statistics and Trends
One of the benefits of looking at food truck industry statistics is that it allows you to get a sense of the size and growth potential of the industry. It also helps you understand your typical customer base. Additionally, by looking at industry trends, you can get an idea of popular menu items that are in demand right now. This can help you develop a menu that appeals to current customers, while also staying ahead of any upcoming food trends.
Food Truck Industry Statistics
The food truck industry has been growing rapidly in recent years. In fact, according to statista.com, “…the market size for food trucks is expected to grow from $2 billion in 2018 to $10 billion by 2023.” This growth can be attributed to a number of factors, including changing demographics (more people are single and living alone or without children) and rising income levels (people are spending more on food).
There are currently an estimated 35,500 food trucks operating in the United States. This number has been growing steadily over the past few years as the food truck industry continues to expand.
Approximately 43% of food truck customers are between the ages of 25-44 years old, while 20% are under the age of 25. Food truck customers are more likely to have a higher rate of disposable income and enjoy worldwide food trends.
Statistics on Food Truck Startup Costs
The average cost to start a food truck varies depending on the type of truck and the equipment that is needed. However, according to foodtruckr.com, the average startup cost for a food truck is approximately $80,000. This includes the cost of the truck itself, as well as the initial cost of food and supplies.
There are a number of ways to reduce the cost of starting a food truck. One option is to buy a used food truck rather than a new one. Additionally, you can reduce the cost of food and supplies by shopping for deals and discounts online.
It is also important to remember that there are additional costs associated with running a food truck business, such as insurance, licensing fees, and marketing expenses.
Food Truck Industry Trends
Some of the current food truck trends include consumer demand for vegan and meat substitutes dishes, food promotions and online ordering. Business and community events often include food trucks in a new trending pattern, as well.
As more people become aware of the environmental impact of meat consumption, there is an increased demand for vegan and meat-free options. In fact, according to a report from Euromonitor International, “Vegan food is one of the hottest food trends globally, with sales of vegan products growing by 8.1 percent in 2018.” This trend is likely to continue as more people adopt vegan and vegetarian diets.
In order to attract customers, many food trucks are now partnering with events or businesses. For example, food trucks might partner with a local brewery to offer discounts to customers who purchase their beer. Or, they might set up at a popular concert venue and sell food to concert-goers.
Another trend that is becoming increasingly popular is online ordering. Many food truck customers now prefer to order their food online or through a mobile app instead of waiting in line. This allows them to avoid long lines and get their food more quickly.
As food truck businesses continue to grow in popularity, restaurants are starting to supplement their food offering with food trucks. This allows restaurants to reach a new audience and expand their customer base. Additionally, it gives customers another option for food and allows them to try food from different restaurants.
Conclusion
The food truck industry is growing rapidly and is expected to reach $10 billion by 2023. This growth can be attributed to changing demographics, rising income levels, and increasing demand for vegan and meat-free options. By keeping up with the latest food truck trends and statistics, you can ensure that your food truck business remains successful.