The food and beverage service activities sector in Germany has demonstrated consistent growth over the years. In 2023, the number of employees stood at 1.34 million. Analyzing the year-on-year variations, there was a 1.52% increase compared to 2022. The five-year CAGR leading up to 2023 was 1.67%, indicating steady growth.
Historical trends from 2013 to 2023 show a positive trajectory, with the sector experiencing increased employment annually. The CAGR over the past decade fluctuated but remained overall positive, reflecting a resilient sector.
Looking ahead, the forecast indicates a continued rise in employment, with the number of employees projected to reach 1.43 million by 2028. The forecasted five-year CAGR is estimated at 1.07%, slightly lower than historical trends but still positive. The overall growth rate for the next five years is anticipated to be 5.46%.
Future trends to watch:
- Potential impact of automation and digitalization on employment numbers.
- Changes in consumer behavior post-pandemic and their effects on the sector.
- Regulatory changes and their potential impact on labor markets.
