The prepared meals sector in Spain experienced steady growth from 2013 to 2019, peaking in 2019 at 2.4 billion Euros. In 2020, there was a notable decline by 7.06%, followed by consecutive declines in the subsequent years, culminating in a value of 1.78 billion Euros for 2023. The year-on-year variation was -7.6% in 2023, reflecting a continued downward trend which began post-2019. The five-year CAGR for 2023 stood at -5.52%, highlighting a significant contraction in the market. Forecast data predicts the sector will continue to shrink, with an anticipated value of 1.11 billion Euros by 2028, corresponding to a forecast five-year CAGR of -7.43%.

Future trends to watch for:

An ongoing decrease in production volume and value, necessitating potential strategic shifts by companies within the sector.
Potential market consolidation as firms face economic pressures.
Emerging opportunities in premium or niche market segments that may counterbalance general declines.