In Austria, the dairy products market exhibited fluctuations over the past decade. From 2013 to 2015, there was steady growth, followed by a significant decline in 2016. The market rebounded in 2017 but saw mixed performance in subsequent years. In 2019, there was a notable increase of 16.42%, and the market continued to grow until 2020. However, 2021 experienced a decline of 5.9%, with a slight recovery in 2022 and 2023, which stood at 2.4907 Billion Euros, reflecting a moderate annual growth rate.
Year-over-year analysis for the last two years indicates slight upward trends with 1.34% in 2022 and 1.31% in 2023. The CAGR over the last five years stands at 2.69%, showcasing a positive trend.
Future market forecasts from 2024 to 2028 predict continued moderate growth, with the CAGR expected to be 0.97%, cumulatively rising by 4.92% over the period.
Future Trends to Watch For:
- Innovations in dairy alternatives
- Growing consumer preference for organic and locally sourced products
- Impact of health trends on product development
- Sustainable packaging and environmental considerations
