Foodservice Insights & Trends - Street Food

Foodservice Insights & Trends - Street Food

Summary

Time-poor consumers are demanding ‘ultra-convenient’ meal solutions that can be consumed on the go. Traditionally, this has been an audience captured by QSR. However, street food operators, including trucks, markets and kiosks, are gaining prominence. Mobile operators benefit from avoiding ever-rising rental prices and having flexibility in where they operate. Offering opportunities for impulse consumption, street food operators are able to capitalize on a fear of missing out (FOMO). The climate of street food market varies between developed and developing markets. Necessity, rather than indulgence/experimentation, is key across developing markets in which transportation links and home facilities make it difficult for consumers to cook regularly themselves. Shorter, nimbler supply chains will continue to ensure that street food operators will remain ahead of the curve compared to restaurants in terms of food innovation.

"Foodservice Insights & Trends - Street Food” published by GlobalData provides extensive insight and analysis into the growing trend toward street food operation, pulling casual dining into a more informal format that priorities convenience and is supported by impulse buys. The report includes -

- Market overview of global foodservice and how the trend is developing across different regions; provides further insight into the happenings of developed and developing foodservice markets and how these are expected to progress.
- Deep dive into the consumer views underpinning these market shifts and how operators can capitalize on them.
- Spotlight on mobile operators: Chan Hong Meng, Boxpark, KERB’s ‘meatless’ market, Frugurpop, and Scotchtails.
- Short Case study highlighting the evolution of QSR creating a market gap for gourmet street food.

Scope

- The global mobile operator foodservice channel was valued at USD$ 30.26 billion in 2018. Since 2013, the market has grown at a CAGR of 5.0%.

- Mobile operators are a staple foodservice option across developing low and middle income countries, especially Africa and Asia. Growth within these markets has been driven by surging urban populations.

- Similar to independent restaurants, street food operators benefit from a perception of authenticity in comparison to major multi-national chains.

Reasons to buy

- Consumer Insight focused analysis of street food and what it means for consumers as well as the market as a whole.
- Learn about core drivers of the market shifts and how these are likely to play out in the future from a consumer insight perspective.
- Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within fast casual.