The production of food and beverages in Sweden showed a steady increase from 2013 to 2023, growing from 150.53 to 181.11 billion Swedish Kronas. The year-on-year variation over the last two years indicated moderate growth with increases of 1.48% in 2022 and 1.43% in 2023. In 2023, the industry stood at 181.11 billion Swedish Kronas.
The compound annual growth rate (CAGR) over the last five years was 1.74%, reflecting consistent yet moderate expansion. Looking ahead to the forecast from 2024 to 2028, the CAGR is expected to moderate slightly to 1.12%, with an overall growth rate of 5.72% predicted by 2028, projecting values to reach 194.44 billion Swedish Kronas.
Future trends to watch for:
- Potential impact of economic fluctuations and inflation on production costs and output.
- Advancements in technology and sustainability practices shaping production methods.
- Changes in consumer preferences towards healthier and eco-friendly products.
- Global trade policies and their impact on local production and export activities.