From 2013 to 2019, household expenditure on catering services in Austria displayed a consistent upward trend, culminating at €22.05 Billion, driven by a CAGR around 4.44%. The sector faced a sharp decline in 2020 with a year-on-year drop of 31.51% due to the pandemic, and further decreased in 2021 by 7.4%. A significant rebound was observed in 2022 with a 56.61% increase, although 2023 saw a correction with a 10.95% decrease, standing at €19.51 Billion. The forecasted data suggests modest growth, with a projected 5-year CAGR of around 1%, leading to €20.77 Billion by 2028.
Future Trends to Watch For:
- Impact of economic recovery post-pandemic.
- Influence of inflation and consumer confidence on expenditure.
- Shift towards sustainable and healthier catering options.
- Technological advancements in food delivery and catering services.
- Changes in consumer lifestyle and dining preferences.
