Key Market Indicators
**Madrid, Spain — Spanish food expenditures are projected to climb to €102.8 billion by 2028, up from an estimated €95.1 billion in 2023. This marks an average annual growth rate of 1.2%. Since 2000, demand for food in Spain has shown a consistent year-on-year increase of 2.8%. In 2023, Spain ranked fifth in food expenditures, with the United Kingdom surpassing it with the same amount of €95.1 billion. France, Italy, and the United Kingdom took the second, third, and fourth spots, respectively. Meanwhile, Spanish food sales are forecasted to reach €120.8 billion by 2028, increasing from €113.8 billion in 2023. This represents an annual growth rate of 1%. Since 2010, the Spanish food market has grown at an average rate of 1.5% per year. In 2023, Spain held the fourth position in food sales, with Italy leading slightly with €113.8 billion. France, Italy, and Spain occupied the second, third, and fourth positions in the ranking, respectively.
