Key Market Indicators
Serbia's expenditure on food services is projected to soar to €4.5 billion by 2028, up from €2.6 billion in 2023. This represents an average annual growth rate of 8.7%. Since 2000, the demand for food services in Serbia has surged by an impressive 24.2% each year. In 2023, Serbia ranked 24th in this sector, with Bulgaria surpassing it at the same expenditure level of €2.6 billion. Leading the rankings were Spain, Italy, and France, occupying the second, third, and fourth spots, respectively. Meanwhile, Serbia's revenue from food services is expected to climb to €1.4 billion by 2028, compared to €1 billion in 2023. This marks a compound annual growth rate (CAGR) of 5.1%. From 2019 onward, the Serbian market has seen a yearly increase of 20.4%. In the 2023 rankings, Serbia stood at 33rd place, with Latvia ahead at €1 billion. Germany, France, and Italy took the second, third, and fourth positions, respectively.
