The turnover of food products in Denmark exhibited a steady increase from 2013 through 2023, rising from 24.3 billion Euros in 2013 to 28.62 billion Euros in 2023. Year-on-year variations and 5-year CAGR reflect the growth trajectory. Notably, the growth was more pronounced in the years 2017, 2020, and 2022 with year-on-year increases above 2%. The compound annual growth rate (CAGR) over the last five years stands at 1.95%, indicating consistent yet moderate growth.
Looking forward to 2024 and beyond, forecasts suggest that the turnover will continue to climb, expecting to reach 31.32 billion Euros by 2028. This implies a forecasted 5-year CAGR of 1.44% with an overall growth rate of 7.39% over the period.
Future trends to watch for include shifts in consumer behavior towards more sustainable and health-conscious food choices, potential impacts of economic fluctuations, and advancements in food technology which could significantly influence production efficiency and supply chain dynamics.