US Market Size by Industry: Food & Beverage
The estimated TAM of the United States food and beverage commercial vehicle market is 3,328,589 units: 768,698 tractors, 1,220,167 trucks, and 674,149 trailers.
- According to the National Private Truck Council (NPTC), there are 200,000 firms in the United States that operate private fleets; these account for 68% of the outbound freight in the United States.
- The top 500 private-fleet-operating companies in the United States collectively operate 1,921,825 commercial vehicles: 189,523 tractors, 1,213,409 trucks, and 518,414 trailers. F&B companies account for 18.26% of the total CV fleet (calculations shown in the spreadsheet).
- Food & beverage companies account for 42.74% of all tractors, 10.60% of all trucks, and 27.23% of all trailers (calculations shown in the spreadsheet).
- Seventy-four percent of the privately-operated fleet in the beverage industry is owned by the companies themselves (the remaining are leased). Assuming the statistic holds true for the whole F&B sector (including food), F&B companies own 13.51% (74%*18.26%) of the privately-operated fleet.
- In 2018, there were 12,397,822 new commercial vehicle registrations in the United States.
- Assuming that F&B’s share of the commercial vehicle market is the same as its share of fleet and that F&B’s share in the top 500 represents its share in the overall market, the size of the F&B market in 2018 in terms of the number of commercial vehicles sold was 1,674,946 (13.51%* 12,397,822).
- Tractors account for 23.08% of all F&B CVs, trucks account for 36.64%, and trailers account for 40.23% (calculations shown in the spreadsheet).
- Therefore, the breakdown of the 2018 F&B commercial vehicles market is
- Tractors: 386,809 (23.08%*1,674,946)
- Trucks: 613,987 (36.64%*1,674,946)
- Trailers: 674,149 (40.23%*1,674,946)
- Total: 1,674,946
- Privately-operated fleet accounts for 68% of the outbound freight in the United States and 74% of the privately-operated fleet is owned. Assuming that privately-operated fleet's share of outbound freight in the F&B sector is also 68%, the proportion of F&B freight that is transported by F&B company-owned vehicles is 50.32% (74%*68%).
- Therefore, the TAM of the F&B CV market is 3,328,589 (1,674,946/ 50.32%). The TAM includes all CVs owned and leased by F&B companies and the outsourced-freight CVs.
- Assuming that the proportion of freight handled by all owned vehicle types is the same, the breakdown of TAM is
- Tractors: 768,698 (386,809/ 50.32%)
- Trucks: 1,220,167 (613,987/ 50.32%)
- Trailers: 1,339,724 (674,149/ 50.32%)
- Total: 3,328,589 (1,674,946/ 50.32%)
We searched for the required statistic across publicly available research reports, government databases, and industry portals; however, none of the aforementioned sources provided a sectoral breakdown of the United States commercial vehicle market. We also searched in food and beverage logistics portals but did not find any success. However, we were able to gather data points from across multiple sources and triangulate an estimate.