Report Overview

India Food Truck Services Market – Industry Trends & Forecast Report, 2029

India food truck services market size was estimated at USD 152.45 million in 2022. During the forecast period between 2023 and 2029, the India food truck services market size is expected to grow at a CAGR of 9.23% reaching a value of USD 277.28 million by 2029. The major factors driving the growth of food truck services market in India include shifting consumer preferences, an increase in interest in street food and beverages, urbanization, and the number of female employees. Specialty beverages and numerous more novel, unorthodox goods added to the menu will give market participants new chances. In addition to other considerations, on-the-spot availability and low prices are expected to be the main drivers of demand for mobile food services.

India Food Truck Services Market - Overview

A food truck is a sizable motor vehicle (like a van) or trailer that can prepare, cook, serve, and/or sell food. Some have onboard kitchens and either make meals from scratch or reheat meals that have previously been cooked in a brick-and-mortar commercial kitchen. Some, like frozen dessert trucks, sell frozen or prepackaged food. Local fast food favorites like sandwiches, French fries, and hamburgers are typical. Gourmet food trucks with a variety of specialties and ethnic menus have grown in popularity as a result of the recent trend of pop-up restaurants. Food trucks also sell cold beverages like soda and water.

Growth Drivers

Expanding Online Food Delivery Businesses

Less-than-load (LTL) systems became more common a decade ago owing to the introduction of huge distribution center models where trucks entered from one side and exited from the other. However, during the past few years, the food industry has experienced a rebirth due to the quick expansion of the online food ordering and delivery sector and the significant penetration of automation in factories around the nation. The demand for efficient less-than-load (LTL) transportation is growing in tandem with the industry's expansion of smaller shipments for online food delivery. Food truck services are predicted to expand significantly as companies including Swiggy and Zomato are investing significantly in food truck services.

Restraints

Lack of Properly Understanding the Target Demographic

There are a few things with which one should proceed cautiously while starting a mobile food services business. Doing a comprehensive study is essential before starting any operation. Customers will doubtless hesitate to eat at a restaurant that is open adjacent to an unsanitary area. One also needs to be aware of the intended audience. If someone ends up offering continental food where customers would prefer Indian, it will defeat the aim of the enterprise. Therefore, the target audience must be thoroughly analyzed.

Impact of COVID-19 on the India Food Truck Services Market

COVID-19 outbreak adversely affected India food truck services market. The market's appetite for food services, including the food truck business, was reduced by COVID-19 pandemic and resultant stringent lockdown measures. Food festivals, weddings, birthday party buffets, and local street food services were all been canceled due to the nationwide lockdown, which hurt the food truck services. Sales fell by 50% across the country from March to April 2020 owing to store closures caused by strict lockdown regulations.

India Food Truck Services Market

Segmental Coverage

India Food Truck Services Market - By Offerings

On basis of offerings, India food truck services market is divided into Food (Non-Vegetarian, Vegetarian, and Vegan), Beverages (Alcoholic Beverages and Non-Alcoholic Beverages), and Dessert & Ice Cream segments. During the forecast period, the vegan & meat plant segment is expected to grow at the fastest CAGR. Global demand for vegan goods and plant-based meat is predicted to increase, which will propel this market's expansion. To appeal to millennials, food truck owners are developing inventive vegan meat blend meals.

India Food Truck Services Market - By Cuisine

On the basis of cuisine, India food truck services market is divided into Indian, American, Chinese, Japanese, Mexican, Italian, and other segments.

India Food Truck Services Market - By Platform

On the basis of platform, India food truck services market is divided into Mobile Vending and Online Delivery segments. Among them, the mobile vending segment holds a higher market share. Food truck operators are increasingly using vans and buses due to their ease of mobility and lower operational costs, which is contributing significantly to the segment's growth. The rise in demand for a one-of-a-kind consumer experience is the primary driver of this segment's growth. Also, the online delivery segment is expected to grow at a faster rate during the forecast period. Online ordering allows customers to place orders for pickup, avoid crowds, and enjoy hassle-free dining experiences. Simple payment methods that adhere to the country's regulatory standards have made transactions much easier. Therefore, consumers are shifting to online delivery platforms.

India Food Truck Services Market - By Region

Geographically, India food truck services market is divided into North India, South India, East India, and West India regions. In India, the food truck market is expected to grow at the fastest rate between 2021 and 2029. Consumers in India prefer street food, which is expected to boost regional product demand. The presence of reputable manufacturers in India is also expected to bring potential growth to the food truck services market.

Competitive Landscape

Major players in the India food truck services market include The Lalit Food Truck Company, The Cheese Truck, Bombay Food Truck, SuperSucker Food Truck, Burgertron, Delhi Food Truck Co., Henny’s Gourmet, Mumbai Rolling Kitchen, and Go Waffles. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In August 2022 - The Delhi government announced to bring of a first-of-its-kind food truck policy along the lines of the United States and the United Kingdom.

Scope of the Report

By Offerings

• Food

1. Non-Vegetarian

2. Vegetarian

3. Vegan

• Beverages

1. Alcoholic Beverages

2. Non-Alcoholic Beverages

• Dessert & Ice Creams

By Cuisine

• Indian

• American

• Chinese

• Japanese

• Mexican

• Italian

• Others

By Platform

• Mobile Vending

• Online Delivery

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Food Truck Services Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rise of social media
         2. Increasing Consumer Trends Towards Fast Food and Beverages
      2. Restraints
         1. Stringent Government Regulations regarding Food
      3. Opportunity
         1. Growing Popularity of Food Trucks Among Commercial Restaurants
      4. Challenges
         1. To Maintain and Grow their Consumer Base
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Food Truck Services Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Offerings
         1. Food
            1. Non-Vegetarian
            2. Vegetarian
            3. Vegan
         2. Beverages
            1. Alcoholic Beverages
            2. Non-Alcoholic Beverages
         3. Dessert and Ice Creams
      2. By Cuisine
         1. American
         2. Chinese
         3. Japanese
         4. Mexican
         5. Italian
         6. Others
      3. By Platform
         1. Mobile Vending
         2. Online Delivery
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India Food Truck Services Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Offerings
      2. By Cuisine
      3. By Platform
6. South India Food Truck Services Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Offerings
      2. By Cuisine
      3. By Platform
7. East India Food Truck Services Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Offerings
      2. By Cuisine
      3. By Platform
8. West India Food Truck Services Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Offerings
      2. By Cuisine
      3. By Platform
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Food Truck Services Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Food Truck Services Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. The Lalit Food Truck Company
    2. The Cheese Truck
    3. Bombay Food Truck
    4. SuperSucker Food Truck
    5. Burgertron
    6. Delhi Food Truck Co.
    7. Henny’s Gourmet
    8. Mumbai Rolling Kitchen
    9. Go Waffles
    10. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       India Food Truck Services Segmentation      

Figure 2       India Food Truck Services Market Value Chain Analysis    

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Food Truck Services Market Size, By Value (USD Million), 2019–2029   

Figure 5       India Food Truck Services Market Share, By Offerings, By Value, 2019–2029

Figure 6       India Food Truck Services Market Share, By Cuisine, By Value, 2019–2029   

Figure 7       India Food Truck Services Market Share, By Platform, By Value, 2019–2029 

Figure 8       North India Food Truck Services Market Size, By Value (USD Million), 2019–2029         

Figure 9       North India Food Truck Services Market Share, By Offerings, By Value, 2019–2029         

Figure 10     North India Food Truck Services Market Share, By Cuisine, By Value, 2019–2029         

Figure 11     North India Food Truck Services Market Share, By Platform, By Value, 2019–2029         

Figure 12     South India Food Truck Services Market Size, By Value (USD Million), 2019–2029         

Figure 13     South India Food Truck Services Market Share, By Offerings, By Value, 2019–2029 

Figure 14     South India Food Truck Services Market Share, By Cuisine, By Value, 2019–2029         

Figure 15     South India Food Truck Services Market Share, By Platform, By Value, 2019–2029         

Figure 16     East India Food Truck Services Market Size, By Value (USD Million), 2019–2029         

Figure 17     East India Food Truck Services Market Share, By Offerings, By Value, 2019–2029         

Figure 18     East India Food Truck Services Market Share, By Cuisine, By Value, 2019–2029         

Figure 19     East India Food Truck Services Market Share, By Platform, By Value, 2019–2029         

Figure 20     West India Food Truck Services Market Size, By Value (USD Million), 2019–2029         

Figure 21     West India Food Truck Services Market Share, By Offerings, By Value, 2019–2029         

Figure 22     West India Food Truck Services Market Share, By Cuisine, By Value, 2019–2029         

Figure 23     West India Food Truck Services Market Share, By Platform, By Value, 2019–2029         

List of Tables

Table 1        India Food Truck Services Market Size, By Value (USD Million), 2019–2029

Table 2        India Food Truck Services Market Size, By Offerings, By Value, 2019–2029

Table 3        India Food Truck Services Market Size, By Cuisine, By Value, 2019–2029

Table 4        India Food Truck Services Market Size, By Platform, By Value, 2019–2029

Table 5        North India Food Truck Services Market Size, By Value (USD Million), 2019–2029

Table 6        North India Food Truck Services Market Size, By Offerings, By Value, 2019–2029

Table 7        North India Food Truck Services Market Size, By Cuisine, By Value, 2019–2029

Table 8        North India Food Truck Services Market Size, By Platform, By Value, 2019–2029

Table 9        South India Food Truck Services Market Size, By Value (USD Million), 2019–2029

Table 10      South India Food Truck Services Market Size, By Offerings, By Value, 2019–2029

Table 11      South India Food Truck Services Market Size, By Cuisine, By Value, 2019–2029

Table 12      South India Food Truck Services Market Size, By Platform, By Value, 2019–2029

Table 13      East India Food Truck Services Market Size, By Value (USD Million), 2019–2029

Table 14      East India Food Truck Services Market Size, By Offerings, By Value, 2019–2029

Table 15      East India Food Truck Services Market Size, By Cuisine, By Value, 2019–2029

Table 16      East India Food Truck Services Market Size, By Platform, By Value, 2019–2029

Table 17      West India Food Truck Services Market Size, By Value (USD Million), 2019–2029

Table 18      West India Food Truck Services Market Size, By Offerings, By Value, 2019–2029

Table 19      West India Food Truck Services Market Size, By Cuisine, By Value, 2019–2029

Table 20      West India Food Truck Services Market Size, By Platform, By Value, 2019–2029

Table 21      The Lalit Food Truck Company - Company Overview

Table 22      The Lalit Food Truck Company Financial Overview

Table 23      The Cheese Truck Company Overview

Table 24      The Cheese Truck Financial Overview

Table 25      Bombay Food Truck Company Overview

Table 26      Bombay Food Truck Financial Overview

Table 27      SuperSucker Food Truck Company Overview

Table 28      SuperSucker Food Truck Financial Overview

Table 29      Burgertron Company Overview

Table 30      Burgertron Financial Overview

Table 31      Delhi Food Truck Co. Company Overview

Table 32      Delhi Food Truck Co. Financial Overview

Table 33      Henny’s Gourmet Company Overview

Table 34      Henny’s Gourmet Financial Overview

Table 35      Mumbai Rolling Kitchen Company Overview

Table 36      Mumbai Rolling Kitchen Financial Overview

Table 37      Go Waffles Company Overview

Table 38      Go Waffles Financial Overview