The sold production of vinegar and substitutes for vinegar in Spain has shown significant growth from 2013 to 2023. The value increased from 8.22 million Euros in 2013 to 29.64 million Euros in 2023, marking an exceptional upward trajectory. The annual growth rate has fluctuated over this period, with notable spikes such as a 42.34% increase in 2015 and a 32.97% rise in 2020. However, there were also years with minimal growth or slight declines, such as the -2.53% in 2021. The compound annual growth rate (CAGR) for the 2019-2023 period stands at 11.3%, indicating strong performance.
Looking ahead to the forecasted years, from 2024 to 2028, the industry is expected to continue its upward trend but at a slower rate. The CAGR for the forecasted period is anticipated to be around 4.97%, leading to a total growth of 27.43% over five years.
Future trends to watch for include:
- Increasing consumer demand for organic and artisanal vinegars.
- Technological advancements in production processes.
- Expansion into new export markets.
- Fluctuations in raw material costs affecting production costs.
