Between 2013 and 2023, the sector displayed a robust growth trajectory, with annual growth rates peaking in 2017 and 2018. The production values increased from 40.76 billion in 2013 to an estimated 182.33 billion in 2023, indicating a strong upward trend. From 2023 to 2028, the forecast suggests a moderated growth, with a 5-year CAGR of 6.02% and a cumulative growth rate of 33.93%.
Future trends to watch include the impact of global economic fluctuations, potential shifts in consumer behavior, technological advancements, and regulatory changes. These factors could affect the sector's growth trajectory in the coming years.
