The turnover of the event catering industry in the UK has shown significant fluctuations from 2013 to 2023. After a steady rise from 2013 to 2016, it peaked in 2016 and then demonstrated inconsistency with a decline in 2017, a slight recovery in 2018, and another drop in 2019. The impact of the COVID-19 pandemic was evident in 2020, showing a dramatic drop in turnover. The subsequent years saw partial recovery but could not return to pre-2020 levels. As of 2023, the event catering turnover stood at 4.43 billion euros, down 3.5% from the previous year with a negative CAGR of -3.79% over the last five years.
Looking forward, the forecast indicates a continual decline in turnover until 2028, suggesting a negative trend with a future 5-year CAGR of -3.33% and an overall fall of 15.58% over this period. This highlights ongoing challenges in the industry.
Future Trends to Watch For:
- Changes in consumer behavior and preferences influenced by post-pandemic attitudes.
- The impact of economic conditions such as inflation and disposable incomes on discretionary spending.
- Technological innovations in event management and catering services.
- Sustainability practices and their adoption in event catering services.
- Government regulations and policies impacting the hospitality and event sectors.
