The Food and Beverages sector in Austria showcased a steady growth pattern from 2013 to 2023, increasing from €5.16 billion in 2013 to €7.1 billion in 2023. Actual year-on-year variation highlights fluctuations, with peaks such as 6.6% in 2014 and 6.4% in 2016, contrasted by lower growth years like 2019 and 2020 at around 2%. The five-year CAGR from 2018 to 2023 stands at 1.91%, reflecting moderate growth in recent years. Forecasted values from 2024 to 2028 indicate continued growth, albeit at a slower average rate, with a forecasted CAGR of 1.3% and an overall growth rate of 6.67%.
Future trends to watch for:
- Expansion of sustainable and organic food products following consumer demand.
- Technological advancements in food production and processing, enhancing efficiency.
- Potential impacts of economic fluctuations and policy changes on the sector.
- Increasing focus on health and wellness products, driving innovation in the sector.
