The food-truck market - Italy

Food trucks are traveling vans equipped with kitchens for the preparation and sale of meals of various kinds, as well as snacks and typical specialties; it is a full-fledged retail business in public areas. The origin of food trucks is undoubtedly American, and initially the phenomenon was of limited interest in the European context. Today, however, street food, which unites about 2.5 billion people worldwide, has gradually become a global phenomenon and has also reached Italy. The global food truck market has grown significantly in recent years and is expected to continue to expand. In 2023, the market value was estimated at $3.73 billion and is expected to increase to $4.04 billion in 2024, with a compound annual growth rate (CAGR) of 8.3 percent. By 2028, the market is expected to reach $5.37 billion with a CAGR of 7.4%. This expansion is mainly driven by the evident change in consumer preferences. More and more people are looking for informal and quick dining options, but they do not want to give up quality, responding perfectly to this need by offering gourmet dishes and ethnic specialties that are often not found in traditional restaurants while also taking into account the low price that food trucks make available. In italy in recent years the number of businesses in the sector has increased impressively, in fact an estimated growth of 7.4 percent annually. The market is expected to be influenced, in particular, by increasingly tight regulations on on-the-go catering and a highly competitive environment that requires pre-emptive moves and continuous innovation in supply.