Summary of our market study

The global food truck market has witnessed robust growth, with expectations of continued expansion at an average annual rate of 6.8% from the year 2020, when the market was valued at US$3.93 billion, to a projected US$6.63 billion by 2028, according to Grand View Research. This growth is largely driven by the Millennial generation's appetite for new culinary experiences, prompting restaurant chains to explore this burgeoning segment. A significant portion of food-truck revenue in 2020 came from fast food products, constituting 33% of sales. The market also indicates a sharp rise in demand for organic and vegetarian options, which are anticipated to grow at an impressive rate of 9.8% annually from 2021 to 2028.

In Spain, the food-truck segment, part of the wider fast-food sector that accrued nearly €4 billion in 2021, is still emerging. Despite the impact of COVID-19 restrictions, the market displayed resilience with the number of food trucks tripling post-pandemic, suggesting there are now at least 1,200 units in operation. The Spanish market prioritizes high-quality gourmet products, reflected in higher consumer spending on food trucks compared to traditional fast-food outlets, and a significant portion of the business model relies on event participation.

The Spanish Food Truck Market: A Growing Trend Fueled by Consumer Preferences

The Spanish food truck market has been witnessing a growing trend, especially in urban centers where there is a notable rise in spending on out-of-home catering and a penchant for street food. The market took a hit in 2020 due to the COVID-19 pandemic, experiencing sanitary closures and a complete halt to sales for a portion of the second quarter. Nevertheless, subsequent relaxations in 2021 and 2022 have enabled the market to bounce back with enthusiasm. Demand for food trucks in Spain reflects the global trend where Millennials are driving growth through their keen interest in new culinary experiences. Despite the food truck market still being in its infancy within Spain, accounting for a fraction of the more than €130 billion generated in the food industry market in 2021, its association with the fast-food sector (which brought in nearly €4 billion in 2021) indicates a shift toward new consumption patterns. Hamburgers, in particular, are a favorite among fast-food outlets, with sales growing by about 30% between 2020 and 2021, reaching totals of more than €2.2 billion. Investments in food trucks are relatively accessible, with quality trucks starting around €10,000 before tax.

These costs exclude additional spending on vehicles for towing, containers for take-away sales, and kitchen equipment. As for the food on offer, a diverse array of culinary styles is available, from American hamburgers to French crepes and Spanish tapas, catering to a demand for not only traditional fast food but also gourmet and original products. The preference for different types of fast food, with hamburgers taking a significant lead, does influence the offerings of food trucks, which often align their menus with these consumer favorites. The Spanish market had about 400 food trucks, with estimates suggesting growth rates of around 30% per year. This indicates that by 2022, the number of food trucks could be between 1,000 and 2,000 units across Spain. Food trucks tend to participate in numerous events and festivals, which serve as significant business opportunities and revenue generators. Some of the major events include MadrEAT and Van Van Market, among others, attracting both dedicated entrepreneurs and restaurateurs using food trucks as a promotional tool. However, it’s important to note the lasting impact of the Covid-19 crisis on the foodservice sector and overall consumption habits. With a significant percentage of Spaniards now preferring.

Key Players in Spain's Vibrant Food Truck Market

The food truck market in Spain, although still in its developmental stage, has seen a myriad of players that cater to a wide range of palates, from gourmet offerings to traditional street fare. These mobile eateries have carved out distinct niches, reimagining street food and offering an array of specialized cuisines that entice food enthusiasts across the nation.

  • StreetXO (DiverXO), a standout in the food truck segment, is an extension of the acclaimed chef Dabiz Muñoz's Gourmet flair. Known for its high-end, experimental cuisine, StreetXO operates out of Madrid, capturing the city's cosmopolitan essence while serving an innovative menu that pushes culinary boundaries.
  • Villada Street specializes in boudin, a French-inspired sausage delicacy. Despite its localized operations in Palencia, the quality and uniqueness of its offerings attract a dedicated following, providing a taste of international flavors on Spain's streets.
  • Les Nenes Road brings a tapestry of tapas to Barcelona, showcasing the heart of Spanish cuisine in a format that's ideal for food truck service. This business encapsulates the social, shared dining experience that tapas are known for, yet in a casual, street-side setting.
  • Carniceros Viajeros has identified itself as the meat lovers' mobile destination. Based in Zaragoza, their itinerant operation serves up a variety of meat-based dishes, underlining the food truck's ability to cater to specific dietary preferences and tastes on the go.
  • Hanna Fubuki takes a detour to the East with its sushi-focused menu, infusing the streets of Málaga with Japanese culinary tradition. Their food truck is a testament to the versatility of the mobile catering model in bringing diverse food cultures to the public.
  • La Quícara champions the ever-popular hamburger, but with a twist that sets it apart within the Canary Islands food scene. By infusing traditional flavors or experimenting with new concoctions, they serve burgers that stand out in the fast-food segment.
  • El Kiosko is a successful chain of franchised restaurants that has intelligently expanded into the food truck arena with three mobile units. They present a world cuisine menu, leveraging their established brand and diverse food offerings to tap into the food truck trend.
  • Lastly, Lacomma is not a food operator but plays a critical role in the ecosystem as a builder and renter of food trucks.
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Summary and extracts

1 Market overview

1.1 Definition and presentation

A food truck is a vehicle (truck, van, pickup) equipped to prepare and sell a variety of culinary preparations or beverages. The concept originated in the United States. The food-truck borrows a number of codes from fast-food restaurants, with typical cuisines (American, Asian, Italian, etc.) and fast service.

In Europe, many entrepreneurs have entered the food-truck market, which presents few barriers to entry, with limited fixed costs and the possibility of changing location. Certain specialties lend themselves particularly well to this type of catering, such as Souvlaki in Greece or Churros in Spain. Some companies, such as Prestige Food Truck (USA), M&R Trailers & Trucks (USA) and the Food Truck Company (Netherlands), have also successfully launched into the manufacture of specialized vehicles.

In Spain, the food-truck market has also seen an upward trend, particularly in urban centers where spending on out-of-home catering is on the rise and street food is very popular. The market was strongly affected by the appearance of covid-19 in 2020, with sanitary closures and a complete halt to sales for part of the second quarter of 2020. However, the relaxations introduced in 2021 and 2022 have enabled the sector to recover with a degree of dynamism.

1.2 Global market

The global food truck market is set for solid growth over the next decade, with average annual sales of +*.*%. The sector's revenues are expected to rise from US$*.** billion in **** to US$*.** billion in ****. [***]

Food Trucks market sales World, ****-****, US$ billion Source: ****

Growth in this market is being driven by ...

1.3 Spanish market

The food-truck market in Spain is still in its infancy. Within the food industry market, which will account for more than €*** billion in sales in Spain in ****[***]. This represents **% of the Foodservice market, up * points on ****. The trend is therefore towards new consumption patterns.

sales trends in the Fast-Food market Spain, ...

1.4 Covid-19 crisis

The Covid-** crisis led to repeated lockdowns in Spain, which had a lasting impact on consumer habits in the country. The hotel and restaurant sector was particularly hard hit. Among the lasting effects, it is worth noting that confined Spaniards have increased the amount of time they spend cooking food themselves ...

2 Demand analysis

2.1 Variety request

As with fast food, food-trucks appeal for the diversity of the dishes they offer. Trucks often specialize in a particular type of cuisine, referring to a particular nationality, for example: American hamburgers, French crepes, tapas... So it's interesting to know which types of product are most in demand.

Breakdown of Fast-Food ...

2.2 Spanish eating habits

Spaniards are accustomed to eating their meals outside the home, a practice found in several Mediterranean countries. With **% of Spaniards frequently eating out, they are above the European average (***).

Percentage of population going out to eat at least once a month Europe, ****, % (***) Source: ****

Spaniards also tend to go out to eat ...

3 Market structure

3.1 Events

One business model for food-truck operators is to travel from festival to festival, criss-crossing the country. Here's a list of food festivals and other recurring events that are a must for street food operators.

Source: ****

In addition to food-trucks owned by entrepreneurs who operate year-round, some brands and restaurants promote themselves ...

3.2 Investment

A quality truck costs around €**,*** before tax. Below, we present the prices of the products offered by Lacomma, Spanish manufacturer of food-trucks:

Source: ****

It should be noted, however, that all these models are trailers, so the cost of the vehicle in front must be added. For food-trucks integrated directly into the ...

3.3 Comparison with Fast-Food market structure

As the food-truck market in Spain is far from mature, it needs to be set against models that are firmly established in the country, such as fast-food restaurants. In fact, food-trucks are newcomers to this segment, although they are distinguished by a more refined and original offering.

As for the big ...

4 Offer analysis

4.1 Price per product

Spain's best-known food-truck is chef Dabiz Muñoz's Goxo, which in **** was awarded the prize for best chef in the world for the second year running in The Best Chef Awards international competition. We present his menu here, to give you an idea of the high end of what food truck ...

4.2 Offer by food type

On a global scale, it is possible to distinguish the sector's revenues by food type. In ****, for example, **% of food-truck sales will involve fast-food products[***].

Revenue breakdown by product category World, ****, % Source: ****

Over the long term, the fast-food segment is the most dynamic. However , the fastest-growing segment over the decade is ...

5 Regulations

5.1 Standards and regulations

In Spain, you can't sell food just anywhere. You need a license, which is more or less complex to obtain depending on the community in which you are located.

The most important legislation for players in the food-truck segment is"Real Decreto ***/****, del ** de febrero", which regulates itinerant or non-sedentary sales. ...

6 Positioning the players

6.1 Segmentation

  • McDonald's
  • Burger King
  • DiverXO
  • Morcillas de Villada
  • El Kiosko
  • Lacomma food trucks
  • Telepizza

List of charts presented in this market study

  • Food truck market sales
  • Breakdown of revenues by product category
  • Growth in the vegan segment
  • Sales trends in the fast-food market
  • Number of restaurants
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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

McDonald's
Burger King
DiverXO
Morcillas de Villada
El Kiosko
Lacomma food trucks
Telepizza

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