The output of Food Services and Beverage Services in Australia grew steadily from 2013 to 2018, with a notable dip in 2019. The subsequent recovery from 2020 onward has seen modest year-on-year variations, with the value in 2023 standing at 74.79 billion AUD. Over the last five years, the CAGR has been slightly negative at -0.16%. Future forecast to 2028 projects a cumulative growth of 3.74% with an annual average growth rate of 0.74%.
Future trends to watch for include potential impacts from evolving consumer preferences, technological advancements in food service delivery, regulatory changes, and economic conditions affecting discretionary spending. Additionally, sustainability and health trends could significantly influence the industry’s trajectory. Addressing these factors will be crucial for sustained growth.