Based on historical data, the turnover for food products in Germany demonstrated fluctuations between 2013 and 2018, with varied year-on-year changes. The turnover surged in 2017 with a notable increase of 7.46%. From 2019 onwards, there was a steady upward trend, culminating in a turnover of 207.42 billion Euros in 2023. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 was 2.29%. The forecast indicates continued growth, with an expected CAGR of 1.39% over the next five years, reaching 226.36 billion Euros by 2028.
Future trends to watch for:
- Impacts of inflation and economic policies on food prices.
- Shifts in consumer preferences towards sustainable and organic products.
- Technological advancements in food production and distribution.
- Regulatory changes in food safety and quality standards.
- Influence of global supply chain dynamics on local markets.
