The turnover in the event catering sector in Italy exhibited significant fluctuations in the past decade. Initially, the sector recorded steady growth from 2013 to 2019, peaking at 1,100 million Euros before experiencing a monumental drop in 2020 due to the pandemic, plummeting to 336.4 million Euros. The recovery ensued in 2021, and by 2023, the sector reached 1,140 million Euros, demonstrating a robust year-on-year increase of 17.49%. The five-year Compound Annual Growth Rate (CAGR) up to 2023 stood at 2.86%. Moving forward, forecasts predict a moderate growth rate with an anticipated CAGR of 0.9% up to 2028, reflecting a more stabilized market.
Future trends to watch for in the event catering sector include:
- The ongoing impact of COVID-19 and potential future health crises on large-scale events.
- Increasing demand for sustainable and locally-sourced catering options.
- Technological advancements in event management and catering services.
- Shifts in consumer behavior towards smaller, more personalized events.
- Economic conditions and disposable income levels affecting event budgets.
