GCC Food Truck Market (Type - Bus, Van, and Customised Trucks; Size Type - Small, and Medium; Application - Ice Cream, Barbeque Food Truck, Halal Food, Fast Food, Fruits & Vegetable Seller, and Others): Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report ongoing study by Infinium Global Research on the food truck market provides an in-depth analysis of segments and sub-segments in the GCC as well as regional food truck market. The study also highlights the impact of drivers, restraints, and macro indicators on the GCC and regional food truck market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the GCC food truck market. The GCC food truck market was valued at approximately USD 109 million in 2022 and is expected to reach about USD 151 million in 2028, with a CAGR of nearly 6% during the forecast period.

Market Insight

A food truck is a large motorized vehicle such as a van or trailer, equipped to cook, prepare, serve, and sell food. Some food trucks that include ice cream trucks, sell frozen or prepackaged food others have on-board kitchens and prepare food from scratch, or they heat up food that was prepared in a brick-and-mortar commercial kitchen. Sandwiches, hamburgers, French fries, and other regional fast food are common. Food trucks may also sell cold beverages such as soda pop and water. Additionally, Food trucks, or “kitchens on wheels,” have been a growing culinary trend in many countries in recent years and Saudi Arabia is no exception. They are now familiar sights on streets, at beaches, at malls, in parks and other open spaces, in short, anywhere they can park. Food truck foods are safer and healthier than street foods. With growing health consciousness, more people are opting for food trucks and small restaurants for their food needs since they are cheaper than buying from established restaurants.

The investment which is required in the food truck business is less as compared with the other businesses. This factor boosts the growth of the market. In the countries such as Saudi Arabia, primarily two licenses are required- a city municipality license and a regular kitchen license to ensure that the business meets health and safety regulations, which drives the growth of the market. The food truck market is especially driven by the factors such as changing lifestyles, busy schedules, and inclination towards different tastes and menus. Additionally, the rising popularity of street food and beverages is increasing the demand for the food truck market worldwide. Furthermore, Heavy calorie increases because of the consumption of food are one of the factors that restrain and hamper the growth of the food truck market. Additionally, stringent government rules and regulations towards the utilization of food truck that applied to traffic laws, complaints made by tax paid restaurants, gaining parking space and many more regulations for business and the climatic condition is restraining the worldwide food truck market. The increasing number of working women and rising urbanization. Incorporating specialty drinks and a number of other new unconventional items within the menu will create new opportunities for the market players. These food trucks are given a good ambiance with which people get more attracted to them and this also helps to initiate the growth opportunity of becoming an entrepreneur in the food sector.

In Saudi Arabia, the food truck market is projected to grow at a significant market share. The growing demand for healthier food and the rapidly increasing demand for catering services in commercial spaces. Several corporate offices are focusing on offering tempting food perks to attract customers which is boosting the growth of Saudi Arabia's food truck market. Food service providers are including healthy eating options such as organic foods, a balanced vegan diet, healthy snacks, and many more to cater to the growing health-conscious population in the country. According to an Alpen Capital GCC Food Industry report conducted earlier this year, population growth, high disposable income, increasingly urbane lifestyles, and evolving consumer preferences have been propelling food consumption growth in the GCC.

Report Scope of the Food Truck Market:

Segment Covered

The report on GCC food truck market covers segments such as type, size type, and application. On the basis of type, the sub-markets include bus, van, and customised trucks. On the basis of size type, the sub-markets include small, and medium. On the basis of application, the sub-markets include ice cream, barbeque food truck, halal food, fast food, fruits & vegetable seller, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as WORLD STREET KITCHEN, Food Truck Company, Prestige Food Trucks, Restaurant Brands International Inc., Roaming Hunger, Krispy Kreme Doughnut Corp., BinHendi Enterprises, Americana Foods Inc., Yum! Brands, and M&R SPECIALTY TRAILERS AND TRUCKS.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the food truck market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.