Household expenditure on personal care in Austria has remained largely stagnant from 2013 to 2028, oscillating between 1.4% and 1.3% of GDP. Notable is the 7.14% year-on-year reduction in 2019, which has since stabilized at 1.3%. This level of expenditure is forecasted to continue unchanged through 2028.
Based on a compound annual growth rate (CAGR) analysis:
- The period from 2013 to 2018 saw no change in expenditure.
- The period from 2019 to 2023 had a negative CAGR of -1.47% due to the drop in 2019.
- Future trends (2024-2028) indicate a forecasted CAGR of 0%, signifying no expected growth.
Future trends to watch for include technological advancements in personal care products, potential economic changes impacting household budgets, and shifts in consumer behavior that may influence expenditure levels in this category.