Food Trucks Enjoy Boom but Are Challenged by the Coronavirus Pandemic
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The recent boom in food trucks is largely attributed to a shift in urban consumer taste and a rise of food industry entrepreneurs around the time of the Great Recession (late 2007 to mid-2009). With the help of social media, food trucks went from constructions site fixtures to staples of urban dining.
As a food industry business, food trucks also offer a low-investment alternative to store fronts with easier, walk-up access and a lot of operational flexibility. As a result, food trucks are often owned by groups typically less represented in restaurant ownership, such as minorities, women, immigrants, and LGBTQ entrepreneurs.
In 2020, food trucks were estimated to have brought in $1.24 billion in revenue (down due to the Coronavirus pandemic). As established components of the urban food landscape, food trucks are expected to see continued growth over the long term. Food trucks have also taken on extremely unique aspects that sometimes escape brick-and-mortar restaurants, especially large national chains. Many see food trucks as integral components of a community and are even cited by cities as part of tourism campaigns.
The Coronavirus pandemic has been exceptionally hard on food trucks. Some food truck operators have adapted by setting up outside hospitals and other essential businesses or going into neighborhoods for quick pick-up or delivery. An app set up by the National Food Truck Association has also been a great benefit to food truck operators by making it easier for them to connect with customers. Even with the advantages however, food trucks are still suffering as a result of Coronavirus-related public health restrictions and are likely to be hit as hard as many other small businesses.
For everything you need to know about the Food Industry companies, see: Plunkett’s Food Industry Almanac 2021
Available to Plunkett Research Online subscribers
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Also available in Almanac Editions.
Publication Date: April 2021Price: $379.99
Printed ISBN: 978-1-62831-563-9
eBook ISBN: 978-1-62831-907-1
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