In 2023, the production of food, beverages, and tobacco in Austria stood at 25.28 billion Euros. Analysis of year-on-year variations shows a blended growth trajectory with minor fluctuations. From 2018 to 2023, annual growth rates hovered around 1.83% to 2.08%, presenting a steady yet moderate growth environment. Notably, the Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was approximately 1.97%, illustrating steady, albeit moderate, growth.
Looking forward into the forecasted period (2024-2028), the growth is expected to moderate further to a 1.28% CAGR, culminating in an overall increase of 6.57% by 2028. This indicates a sustained, though decelerating, growth trend in the production sector.
Future trends to watch for:
• Increasing automation and technology integration in production processes.
• Rising consumer trends towards healthier and sustainable products.
• Impact of regulatory changes on tobacco production and consumption patterns.
• Potential disruptions from global supply chain issues or economic fluctuations.