Between 2013 and 2019, household expenditure on catering services in Belgium experienced consistent growth, with the highest year-on-year growth observed in 2016 at 7.04%. However, the COVID-19 pandemic led to a drastic drop in 2020 by 32.41%. A strong recovery occurred in 2021 and 2022 with growth rates of 23.99% and 39.65%, respectively. In 2023, the expenditure stood at 13.49 billion Euros, which was a 15.71% decrease from the previous year. The 5-year CAGR from 2019 to 2023 was at 0.63%, showing modest average growth despite the pandemic's impact.
Future trends to watch for:
- While immediate recovery is expected to stabilize, the forecasted CAGR of 1.77% from 2024 to 2028 indicates a slower yet steady growth trajectory.
- Innovations in catering services and consumer behavior adaptations post-pandemic will be crucial.
