The turnover of event catering in Spain experienced fluctuation over the period from 2016 to 2023. The value in 2023 stood at €1.8 billion. Notable developments include a significant drop in 2020 by 42.57% due to the pandemic, followed by a recovery with a 40.2% increase in 2021 and a further 16.61% in 2022. The last year observed a steady growth of 9.6%, reflecting a CAGR of 21.46% over the previous five years.
From 2024 onwards, the forecast data indicates a stabilization with minor incremental changes, showing a consistent turnover around €1.81 to €1.82 billion through to 2028. The expected CAGR from 2024 to 2028 is 0.1%, projecting a slow but steady growth trajectory.
Future trends to watch for:
• Technological advancements in event management and catering services.
• Shifts in consumer behaviors and preferences post-pandemic.
• Economic factors influencing corporate and private event expenditures.
