Food Trucks Market registering a CAGR of 6.8% over the forecast period
Food Trucks Industry Overview The global food trucks market size was valued at USD 3.93 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. A surge in gastronomy across the globe coupled with the rising preference of consumers between the age group of 16-34 years for new meal experience over conventional brick and mortar restaurant experience is expected to drive the market over the forecasted period. The COVID-19 outbreak decreased the market demand for food services including the food trucks industry globally. Primarily, countries, such as the U.S., China, and the U.K., have witnessed cancellations of events, such as, food festivals and parades, which has resulted in a decline in sales of food trucks. Store closures due to strict lockdown measures resulted in disastrous consequences, with sales decreasing by 50% from March to April 2020, globally. Gather more insights about the market drivers, restrain...