Forecast: Turnover of Restaurants and Mobile Food Service Activities in Portugal

Analyzing the turnover of restaurants and mobile food service activities in Portugal, we observe significant growth from 3.36 billion Euros in 2013 to 8.19 billion Euros in 2023. During this period, the market exhibited a robust upward trend until 2019, before experiencing a sharp decline in 2020 due to the COVID-19 pandemic, followed by a quick recovery. Year-on-year growth rates displayed varying trends, peaking in 2017 at 18.8%, plummeting in 2020 at -33.17%, and then rebounding strongly in 2021 with a growth rate of 34.88%. Looking specifically at the last two years, 2022 saw an 18.61% increase in turnover, while 2023 experienced an 11.93% rise. The Compound Annual Growth Rate (CAGR) over the last five years stands at 5.88%.

In 2023, the turnover achieved was 8.19 billion Euros, marking a notable recovery and continuation of growth trends pre-2020. Forecast data suggest a steady increase in turnover, reaching 9.14 billion Euros by 2028 with a forecast 5-year CAGR of 1.53%. The projected overall growth rate for this period is 7.87%.

Future trends to watch for include potential impacts of economic fluctuations, evolving consumer preferences towards food delivery services, technological advancements in mobile food service, and sustainability trends within the food industry. Additionally, post-pandemic consumer behavior and the potential for regulatory changes regarding health and safety standards will also be key factors influencing market dynamics.