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Food trucks are motoring across Canada

015_Packman_YFM Summer 2014_Takeout

 

Millennials are the driving force behind food truck sales growth in Canada.

by Euromonitor

 

These young consumers are meanwhile interested in distinctive offerings, with this benefiting independent players. In order to appeal to this consumer group, players are meanwhile increasing locating their operations close to key locations such as universities and bars. Growth is also being fuelled by food street festivals, with summer 2015 for example seeing popular Food Truck Frenzy events. The Columbia StrEAT Food Truck Fest in Vancouver in 2015 notably included over 70 food trucks. With a strong interest in social media among this consumer group, many independents also increasingly promoted their brands and locations via sites such as Facebook and Twitter.

COMPETITIVE LANDSCAPE

  • BeaverTails is the leading chain in street stalls/kiosks and accounted for an overall value share of 7% in 2015, while accounting for 35% share of chained value sales. The chain focuses on a popular Canadian pastry, offering hot fried dough in the shape of a beaver tail with a choice of toppings. The brand notably benefits from its ability to adapt swiftly to seasonal changes. Beavertails also offers poutine and hot chocolate for cooler days and smoothies, gelato, frozen yogurt and sorbets for hot summer days, thus competing well channels such as juice/smoothie bars.

PROSPECTS

  • Government regulations could be either pose a help or a hindrance to street stalls/kiosks over the forecast period. Many bricks-and-mortar outlets will continue to strive for street stalls/kiosks to face the same regulatory standards as they do, including those covering the proximity of outlets. In early-2015, the City of Vancouver meanwhile stopped issuing permits to new street vendors, thus slowing down growth for the foreseeable future in the city.

These young consumers are meanwhile interested in distinctive offerings, with this benefiting independent players. In order to appeal to this consumer group, players are meanwhile increasing locating their operations close to key locations such as universities and bars. Growth is also being fuelled by food street festivals, with summer 2015 for example seeing popular Food Truck Frenzy events. The Columbia StrEAT Food Truck Fest in Vancouver in 2015 notably included over 70 food trucks. With a strong interest in social media among this consumer group, many independents also increasingly promoted their brands and locations via sites such as Facebook and Twitter.

COMPETITIVE LANDSCAPE

  • BeaverTails is the leading chain in street stalls/kiosks and accounted for an overall value share of 7% in 2015, while accounting for 35% share of chained value sales. The chain focuses on a popular Canadian pastry, offering hot fried dough in the shape of a beaver tail with a choice of toppings. The brand notably benefits from its ability to adapt swiftly to seasonal changes. Beavertails also offers poutine and hot chocolate for cooler days and smoothies, gelato, frozen yogurt and sorbets for hot summer days, thus competing well channels such as juice/smoothie bars.

PROSPECTS

  • Government regulations could be either pose a help or a hindrance to street stalls/kiosks over the forecast period. Many bricks-and-mortar outlets will continue to strive for street stalls/kiosks to face the same regulatory standards as they do, including those covering the proximity of outlets. In early-2015, the City of Vancouver meanwhile stopped issuing permits to new street vendors, thus slowing down growth for the foreseeable future in the city.