The rise in appetite of people toward new and delicious street food drives the growth of the global gourmet street food market Humans are a connoisseur of food. Rise in the number of gourmet food lovers is facilitating the growth of the global street food market. The tendency of humans toward exploring the native and regional tastes propels its growth to a large extent. The street foods are shaping the culture of food and are profitable as well. They are the mobile version of hotel business.
The services and the different varieties of food,catering to the needs of every focus group is expected to stimulate the demand for the gourmet street food market .The large population of middle class people are inclined towards it.
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Key Market Players:-
Horn Ok PleaseD’Abruzzo
Nonbiri
Chan Hong Meng
Burger King
Bean About Town
Born & Raised
Cheeky Italian
Donostia Social Club
Sub CultCovid-19 Scenario Analysis:-
Corona virus has spread all over the world and most of the countries are adopting lockdown measures to control the spread of the virus for securing public health. All business and production activities are fully shut down except food and medical sector or other, leading toward economic crisis in the country. Manufacturing and production functions are stopped which has slowed down the business and inactive trade and transportation has fully disrupted the supply chain because of which companies can face big losses in near future
Top Impacting Factors :- Market Scenario Analysis, Trends, Drivers and Impact Analysis The rise in appetite of people toward new and delicious street food drives the growth of the global gourmet street food market. The continuous development,investment in technology, and innovation and food standardisation fuel the growth of the market. Many of the gourmet street food are clean labelled and have a good packaging.
The gourmet street food is the new normal as it provides multiple varieties and options for the food lovers .The vendors are also indulged in producing as per the consumer’s changing pattern and modern tastes. Hence,this is anticipated to boost the growth of the market. The gourmet street food manufacturers are focusing to cater the need of their consumers. A rise in the number of consumers is due to the strategic locations of these street foods. They are located at specific places,which can contribute to more customers.Also,the inclusion of customized products in the portfolio is enhancing the growth of the business.
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