From 2013 to 2023, the production volume of food products in Austria has shown a general upward trend. In 2023, the production value stood at 17.44 billion Euros. The year-on-year growth rates varied, with notable growth in 2017 (5.22%) and 2021 (6.57%), and declines in 2018 (-0.22%) and 2020 (-3.78%). Over the last two years, from 2022 to 2023, the industry saw modest growth rates of 1.21% and 1.17%, respectively. The average annual growth rate (CAGR) for the past five years was 1.27%, indicating steady but moderate growth.
Looking ahead to the forecasted data from 2024 to 2028, the CAGR is expected to be 0.92%, which projects a 4.7% growth over this period. Future trends to watch for include potential impacts of global economic conditions, technological advancements in food production, sustainability initiatives, and potential shifts in consumer behavior that may influence production volumes and values.