Mobile Food Industry Growth Prediction
2018 Food Truck Industry Trend
The Food truck business is a fast growing industry. It has been growing for years into today’s existing market segment. Although the restaurant industry has moved up at the growth rate of 2% yearly, the food truck industry has a huge 7.9% annual growth rate for the past 5 years.
This chart is showing the value of the US Food truck industry in 2014, 2015 and a forecast for 2020. (www.statista.com)
One of the main reasons for this growth is the low start-up cost of a food truck business which is approximately $50,000 to $100,000, with $250,000 to $500,000 expected annual revenue.
In addition, the traditional food truck industry has provided other unique and creative opportunities for businesses.
We see the use of food trucks in these different emerging trends:
- Branding/promotional tours
- Real life experience for culinary students (Mobile classrooms)
- Food product test out
- Signature food test out
- Pop up events
- Restaurant extensions
Venture Food Trucks will provide you with the most up to date information about the trends related to the industry. We will help you to get the best from the food truck industry golden years that yet to come. Please visit https://venturefoodtrucks.com or call us at 1.855.4052324.