Key Market Indicators
Cypriot Catering Revenue is projected to climb from €11 million in 2023 to approximately €13 million by 2028, marking an annual growth rate of 2.8%. This upward trend has been consistent, with the market growing at an average rate of 2.3% per year since 2013. In 2023, Cyprus held the 26th position globally in catering revenue, with Hungary surpassing it at the same revenue mark of €11 million. Leading the global rankings were the United Kingdom, France, and Belgium, holding the second, third, and fourth spots respectively. On the expenditure front, Cypriot Catering Expenditure is set to increase from €1.4 billion in 2023 to €1.6 billion by 2028, experiencing a modest annual growth rate of 1.6%. However, since 2000, the demand in Cyprus has seen a slight decline, averaging a decrease of 0.2% per year.
