Key Market Indicators
Icelander Food Services Revenue is projected to decline to €1.3 billion by 2028, down from €1.4 billion in 2023. This represents an annual decrease of 1.1% in its compound annual growth rate (CAGR). Since 2019, the market has seen a consistent drop of 1.1% year on year. In 2023, Iceland ranked 29th globally, with Lithuania slightly ahead at €1.4 billion. Germany, France, and Italy secured the second, third, and fourth spots, respectively. Conversely, Icelander Food Services Expenditure is expected to rise to €2.2 billion by 2028, up from €2 billion in 2023, marking an annual growth rate of 1.8% CAGR. Since 2000, demand in Iceland has increased by 3.3% annually. In 2023, Iceland ranked 27th, with Slovenia surpassing it at €2 billion. Spain, Italy, and France occupied the second, third, and fourth positions, respectively.
