The mobile food services market had an estimated market share worth US$ 21 billion in 2022, and it is predicted to reach a global market valuation of US$ 40.28 billion by 2033, growing at a steady CAGR of 6.1% from 2023 to 2033.
Mobile Food Service is a model of business in which food is prepared and sold from any vehicle. Trucks or vans are used for this purpose, because lots of items are involved in the preparation of food for lots of people, and the trucks and vans give us the leisure and space for storing all these items.
The idea is to set up a mobile stall on a day-to-day basis, sell the food, and finally leave the place. Not having to install a permanent stall is a benefit, as the owner can shift the bases whenever he/she wants to.
The idea of starting the mobile food services business is to ensure that the customers get to see how fresh the food is prepared then and there, and served to them, thereby maintaining the required hygiene standards.
Mobile food services have been instrumental in creating numerous business opportunities, and this has contributed to many economies across the world. These types of food services have also created job opportunities in the food industry.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | US$ 21 billion |
| Expected Market Value (2023) | US$ 22.28 billion |
| Projected Forecast Value (2033) | US$ 40.28 billion |
| Anticipated Growth Rate (2023 to 2033) | 6.1% |
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The global demand for mobile food services market was estimated to reach a global market valuation of US$ 16.57 billion in 2018, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth in the mobile food services market, registering a CAGR of 3.3%.
The world's rapid urbanization has raised peoples' disposable incomes. Rapid urbanization along with the large percentage of women entering the workforce have thereby boosted the need for handy and simple-to-prepare food products. New habits are becoming ingrained and the taste for foreign meals is rising as the urban population grows.
Fast urbanization, changing culinary choices, changing lifestyles, and an increase in nuclear families represent some of the causes propelling the expansion of the global fast food sector and hence boosting the global expansion of the mobile food services market.
Easy and Convenient Availability of Ready and Prepared Food
The biggest advantage associated with mobile food services is that the food is either already prepared or is prepared on the spot. This food is visible to us, even before buying, which is pivotal in winning the trust of the customer, which may not be the case with restaurants. With the increase in the demand for convenience food, the sales of mobile food services are anticipated to boost.
On-demand, there are options for customization of food then and there as well. That is, one can request the cook to make certain altercations in the flavors based on our requirements, which tends to increase the personal touch. Even this might increase the sales of mobile food services.
Technology along with Urbanization to Overall Boost Sales
These outlets operate in open areas. People who want to enjoy having food in the open, instead of being enclosed in any brick-and-mortar store, would certainly prefer having food in such mobile stores. This is expected to increase the adoption of mobile food services.
With the advancement of technology, there are certain processes that have become easier. These technologies have been instrumental in managing queues, preparing food fast, and ensuring quality taste as well. These technologies have been instrumental in increasing the popularity of mobile food services. This is expected to increase the mobile food services market share.
Rapid urbanization and the expansion of cities have led to a busy lifestyle. The condition is such that people have no time for cooking as well, and wish to eat in open spaces with their friends. It is here that mobile food services are helpful. Such people usually satisfy their hunger in these stores. This is expected to increase the demand for mobile food services.
Food-based E-commerce Applications to Make these Services More Popular
The development of food-based E-Commerce apps is a huge boon to mobile food services. People do not have to necessarily visit the spot; they can instead order food through these apps. This is expected to drive the sales of mobile food services.
Even social media has the tendency to increase the mobile food services market size, apart from E-Commerce. If a customer posts a review about a store, in no time, it will be visible to many people. More and more people might start becoming customers for that store because of the word of mouth, as a result of which the market for mobile food services is anticipated to increase.
If the business want to achieve economies of scale, one of the best businesses would be to start a mobile food services business. It is because in this case, they would be sticking to only a certain food cuisine, and after a point of time, if the business does well, we may have to invest less and the returns would be more. This is something, because of which the adoption of mobile food services might increase.
Raw Material Shortage can Impede the Global Market Growth
There are certain things about which one needs to be careful while starting a mobile food services business. It is important to do a thorough analysis before operating at any place. If somebody opens a store in an area that is near any unhygienic place, people would certainly think before having food in such stores.
Companies need to be aware of the target audience as well. If they end up selling continental food at a place where people prefer having Indian food, it is not going to serve the purpose of the business. A thorough study of the target audience has to be carried out.
Many businesses in the mobile food services space are small-scale players. Their business is quite sensitive to inflation. They need to be careful while pricing their items.
Any shortage in raw materials in an economy has a massive tendency to negatively impact businesses, especially for small-scale players. It is important to have the right options set. These shortages in raw materials can happen because of natural calamities, war, and adverse weather conditions.
Principal Consultant
The Food Trucks are Anticipated to Rule the Market for a Long Time Ahead
In 2022, the food truck segment constituted a global market share of around 47%. The elements causing the expansion include the quick rise in gastronomy and the growing preference among young people for new eating experiences over conventional dining in brick-and-mortar establishments. Other significant elements driving the increase are the expanding prevalence of the mobile lifestyle and the rising need for food on the go.
Food truck services are among the most popular eateries and one of the ideas with the quickest growth rates due to its accessibility, affordability, and adaptability. The rise of upmarket food truck services was largely brought on by recession-related tendencies. American society, for example, is largely influenced by meals-on-wheels.
There are more than 35,000 food trucks dotted across the American cities, and the sector employs over 14,000 people. The demand for such food truck services in the United States is being driven by the movement in customer desire, particularly among the millennial and Gen Z demographic, toward gourmet cuisine and unusual & adventurous culinary ideas.
The popularity of food trucks in the United States has also increased as a result of the emergence of social media. Food trucks are taking use of social media platforms like Facebook and Twitter.
The Food Segment will Gain Immense Traction During the Forecast Period
In 2022, the food segment by product was estimated to have acquired a 32.6% global market share. The market for food was worth US$ 13.22 billion in 2021 and will increase until 2033. Donuts, sandwiches, burgers, and pizza are available from several regional and international suppliers in the United States and numerous European nations, like RBI as well as YUM!
Traditional meals and dishes from other cultures that have been infused with localized flavors to cater to local consumers are among the most popular foods supplied by mobile food service providers in Asia and South American nations. These factors will increase consumer demand for meals from mobile food services, driving the market's expansion throughout the projected period.
Increasing Urbanization Have Boosted the Growth
In 2022, East Asia along with South Asia and Pacific countries altogether accounted for a significant market share of 30.2%. The reason behind this is rapid urbanization, an increase in disposable income, and people wanting to try new cuisines.
There has been increased investment in the food sector specifically in India and China, and there have also been plenty of mergers and acquisitions in this space, which indicates that the market might thrive in the coming years.
Rising Numbers of Hotels and Accommodations to Bolster Growth
In 2022, the North American market for mobile food services market garnered a global market share of around 26.2%. During the projection period, it is anticipated that the North American market for mobile food services would expand quickly. The increased employment rates at fast food restaurants show that there are more mobile food services available in the area, which in turn shows that there is an increasing need for such services. The demand for quick meals, which need less preparation as well as are readily available, is rising as more customers are time constrained.
Fast food is more readily available and less expensive, which encourages customers to buy it frequently. These habits will fuel the expansion of the mobile food services business in North America, where the majority of customers dine out often and buy fast food near their workplaces.
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The key players in this market include:
Significant advancements in the mobile food services sector are being made by key market participants, and these include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.1% from 2023 to 2033 |
| Market value in 2023 | US$ 22.28 billion |
| Market value in 2033 | US$ 40.28 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Region Covered |
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| Countries Profiled |
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| Key Companies Profiled |
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| Customisation Scope | Available on Request |
The market is predicted to expand at 6.1% CAGR from 2023 to 2033.
The market is predicted to reach US$ 22.28 billion in 2023.
Food products are likely to dominate the market.
Convenience meals and quick service restaurants to grow demand.
From 2018 to 2022, the market registered a CAGR of 3.3%.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033
5.3.1. Food Truck
5.3.2. Removable Container
5.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Product, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product, 2023 to 2033
6.3.1. Food
6.3.2. Beverages
6.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Application
8.2.3. By Product
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application
8.3.3. By Product
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Application
9.2.3. By Product
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application
9.3.3. By Product
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Application
10.2.3. By Product
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application
10.3.3. By Product
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Application
11.2.3. By Product
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application
11.3.3. By Product
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Application
12.2.3. By Product
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application
12.3.3. By Product
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Application
13.2.3. By Product
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Application
13.3.3. By Product
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Application
14.2.3. By Product
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Application
14.3.3. By Product
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Application
15.1.2.2. By Product
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Application
15.2.2.2. By Product
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Application
15.3.2.2. By Product
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Application
15.4.2.2. By Product
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Application
15.5.2.2. By Product
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Application
15.6.2.2. By Product
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Application
15.7.2.2. By Product
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Application
15.8.2.2. By Product
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Application
15.9.2.2. By Product
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Application
15.10.2.2. By Product
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Application
15.11.2.2. By Product
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Application
15.12.2.2. By Product
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Application
15.13.2.2. By Product
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Application
15.14.2.2. By Product
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Application
15.15.2.2. By Product
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Application
15.16.2.2. By Product
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Application
15.17.2.2. By Product
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Application
15.18.2.2. By Product
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Application
15.19.2.2. By Product
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Application
15.20.2.2. By Product
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Application
15.21.2.2. By Product
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Application
15.22.2.2. By Product
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Application
15.23.2.2. By Product
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Application
16.3.3. By Product
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Kogi BBQ
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Phat Cart
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Cupcakes for Courage
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Yumbii
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Wafels and Dinges
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Restaurant Brands International Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. Ms. Cheezious
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. DessertTruck Works
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. The Waffle Bus
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Burgerville
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. Subway IP LLC
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.12. Lukes Seafood LLC
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.13. OINK and MOO BBQ
17.1.13.1. Overview
17.1.13.2. Product Portfolio
17.1.13.3. Profitability by Market Segments
17.1.13.4. Sales Footprint
17.1.13.5. Strategy Overview
17.1.13.5.1. Marketing Strategy
17.1.14. The Grilled Cheeserie
17.1.14.1. Overview
17.1.14.2. Product Portfolio
17.1.14.3. Profitability by Market Segments
17.1.14.4. Sales Footprint
17.1.14.5. Strategy Overview
17.1.14.5.1. Marketing Strategy
17.1.15. Darden Restaurants Inc.
17.1.15.1. Overview
17.1.15.2. Product Portfolio
17.1.15.3. Profitability by Market Segments
17.1.15.4. Sales Footprint
17.1.15.5. Strategy Overview
17.1.15.5.1. Marketing Strategy
17.1.16. World Famous House of Mac
17.1.16.1. Overview
17.1.16.2. Product Portfolio
17.1.16.3. Profitability by Market Segments
17.1.16.4. Sales Footprint
17.1.16.5. Strategy Overview
17.1.16.5.1. Marketing Strategy
17.1.17. McDonald Corp
17.1.17.1. Overview
17.1.17.2. Product Portfolio
17.1.17.3. Profitability by Market Segments
17.1.17.4. Sales Footprint
17.1.17.5. Strategy Overview
17.1.17.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Mobile Food Services Market
