The production value of food and beverage services in Spain has experienced fluctuations from 2013 to 2023. In 2023, it stood at 57.13 Billion Euros. The initial years from 2013 to 2019 showed a consistent upward trend, with growth rates marking improvements each year, peaking at 8.97% in 2017. However, the industry faced a sharp decline in 2020 by -41.71% due to the COVID-19 pandemic. Recovery was noticeable in 2021 with a notable increase of 39.42%, continuing to grow into 2022 and 2023 with respective year-on-year growth rates of 18.62% and 11.49%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 is 2.49%, indicating moderate recovery and growth.
Projections from 2024 indicate a gradual yet steady increase in production value, with a five-year average growth rate of 1.24%. By 2028, forecasts predict a total growth rate of 6.37% from 2023 levels, reaching 61.98 Billion Euros.
Future trends to watch for include the influence of sustainable practices, technological advancements in food service delivery, and changing consumer preferences towards healthier and convenience foods. Additionally, potential economic fluctuations and regulatory changes could impact industry performance.