The food products turnover in Austria has shown a steady upward trend from 2013 to 2023, with the value increasing from €16.4 billion to €21.2 billion. Specifically, the trend has fluctuated with positive and negative year-on-year variations but generally displayed resilience and recovery following minor downturns. Notably, from 2017 onwards, the turnover grew at a more robust pace, significantly spiking in 2018 and maintaining a generally positive trajectory despite the slight drop in 2020, likely due to external factors such as the pandemic.
In 2023, standing at €21.2 billion, the sector showcased considerable growth signs, reinforced by a 2.53% year-on-year increment and reflecting broader market stability.
Future trends for the food products turnover in Austria appear promising, with forecasts predicting steady growth reaching €23.74 billion by 2028. The average annual growth rate (CAGR) over the next five years is expected to be around 1.79%, indicating moderate yet stable progress.
Future Trends to Watch:
- Shifts in consumer preferences towards organic and sustainable food products
- Technological advancements in food production and supply chain efficiencies
- Impact of governmental policies and economic factors on market dynamics
- Potential influence of global economic conditions on local turnover trends
