From 2013 to 2023, household expenditure on catering services in Denmark exhibited noticeable fluctuations. The expenditure grew consistently from 2013 to 2019, with the compound annual growth rate (CAGR) peaking at 5.21% in 2019, but dropped sharply by 20.62% in 2020 likely due to the pandemic's impact. Post-pandemic recovery was observed with a significant 15.84% increase in 2021 and a remarkable 29.41% jump in 2022. However, in 2023, the expenditure shrank by 11.82%, positioning it at 7.95 Billion Euros.
Looking forward to the forecast period from 2024 to 2028, expectations indicate a positive trend with an average annual growth rate (CAGR) of 2.08% and an overall growth rate of 10.87% over these five years. This suggests a steady but moderate increase in household expenditure on catering services in Denmark.
Future trends to watch for:
- Impact of economic factors such as inflation and disposable income on catering expenditure
- Changes in consumer behavior and preferences post-pandemic
- Technological advancements in food delivery and catering services
- Expansion of digital and contactless payment solutions in the catering sector
- Sustainability and environmentally friendly practices gaining traction in the industry
