The turnover of food and beverage services in Spain exhibited consistent growth from 2013 to 2019, increasing from 39.23 billion euros to 54.21 billion euros, despite minor fluctuations. However, 2020 experienced a sharp decline of -39.48% due to the pandemic's impact, reducing turnover to 32.81 billion euros. Recovery began in 2021 with a significant year-on-year increase of 38.4%, peaking in 2022 with 54.34 billion euros. As of 2023, the turnover stood at 61.41 billion euros, demonstrating an annual growth rate of 13% and a 5-year CAGR of 3.68%. Future forecasts from 2024 to 2028 anticipate continued growth, with a forecasted 5-year CAGR of 2.76% and a growth rate of 14.6% by 2028.
Future trends to watch for include:
- Impact of digitalization and online food delivery services on turnover.
- Influence of sustainable and health-conscious consumer choices.
- Potential effects of economic fluctuations and tourism trends.
- Adaptations to potential new regulations and market dynamics post-pandemic.
