Forecast: Production in Prepared Meals Sector in Austria

The prepared meals sector in Austria has demonstrated substantial growth from 2013 to 2023, with the production value increasing from 155.5 million Euros in 2013 to 534.0 million Euros in 2023. Over the years, the sector exhibited a notable upward trend with some fluctuations. The highest year-on-year growth was recorded in 2014 at 63.22%, while 2020 experienced a contraction at -13.69%. In 2023, the value stood at 534.0 million Euros, representing an 8.23% year-on-year increase from 2022. The CAGR over the last decade shows varying rates, with a 4.16% CAGR noted for the recent 5-year period leading up to 2023.

Looking ahead, the forecasted data suggest continued growth, with production values predicted to reach 663.2 million Euros by 2028. This future trend indicates a 3.43% forecasted 5-year CAGR and an 18.34% cumulative growth rate over the next five years. Factors influencing future trends include evolving consumer preferences towards convenience, advancements in food technology, and the impact of economic factors on household spending. Innovations in healthier and sustainable meal options could further drive market expansion and attract a broader customer base.