The preserved vegetables market in Spain displayed varied growth from 2013 to 2023, achieving a value of 2.5384 Billion Euros in 2023. The market experienced numerous fluctuations, such as a significant dip in 2014 with a -9.09% year-on-year variation and a peak growth of 16.46% in 2015. The compounded annual growth rate (CAGR) also varied, with a notable 5.57% in 2017. However, in recent years since 2020, the growth rate has stabilized, averaging a modest 1.24% CAGR up to 2023.
Future trends to watch for:
- A steady growth rate projected, with a forecasted CAGR of 1.24% from 2024 to 2028.
- By 2028, the market is expected to reach 2.7452 Billion Euros, indicating a 6.38% growth rate from 2023 levels.
- Potential shifts towards sustainable and organic preservation methods driven by consumer demand.