The production of food and beverages in Italy has demonstrated a steady upward trend from 2013 to 2023, reaching 149.11 Billion Euros in 2023. The period from 2013 to 2019 shows consistent growth with minor year-on-year variations between 1% and 3%. The impact of the COVID-19 pandemic is noticeable in 2020, with a -3.75% decline. However, the recovery is evident in the subsequent years, peaking in 2021 with a 6.52% increase and then sustaining moderate growth through 2023.
Looking forward, forecasts indicate continued growth, with the production value expected to reach 157.73 Billion Euros by 2028. The forecasted 5-year CAGR stands at 0.89%, indicating a stable but slower growth rate compared to previous periods.
Future trends to watch for:
- The impact of technological advancements and automation in the food and beverage production industry.
- Shifts in consumer preferences towards sustainable and locally sourced products.
- Potential economic fluctuations and their effects on production rates.
- Regulatory changes related to food safety and environmental standards.