The production value of Food and Beverage Services in France experienced significant growth from 2013 to 2019, reaching 80.18 billion Euros with year-on-year variations fluctuating between 1.46% and 7.21%. However, 2020 saw a dramatic decline of 28.85% due to the impact of the COVID-19 pandemic. The market quickly rebounded, registering a 23.88% increase in 2021 and a 14.04% rise in 2022. In 2023, the value stood at 88.45 billion Euros, showing a 9.74% increase from the previous year.
Since the five-year CAGR (Compound Annual Growth Rate) for the period from 2019 to 2023 is 3.41%, the forecast up to 2028 shows a more moderate growth rate with a 2.35% CAGR, indicating a stable but slower rise in production value, projected to reach 102.58 billion Euros by 2028.
Future trends to watch for include:
- Potential impacts of economic fluctuations and cost pressures on production and pricing strategies.
- Increasing emphasis on sustainability and eco-friendly practices within the industry.
- Greater investment in technology and innovation, driving operational efficiencies and new revenue streams.
- Shifts in consumer behavior and preferences, potentially boosting demand for healthier and locally-sourced food and beverages.