From 2013 to 2019, the event catering sector in Italy showed a steady growth pattern with values increasing from 746.8 million euros to 1120.0 million euros. This growth trajectory was disrupted in 2020 by a sharp decline of 66.5%, bringing the value down to 375.9 million euros, largely due to the COVID-19 pandemic. However, the sector rebounded strongly in 2021 with a 102.34% increase and continued to grow in 2022 and 2023, reaching 1180.0 million euros by 2023.
Year-on-year percentage variations for the last two years were 31.96% in 2022 and 17.11% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 3.37%. Forecasts indicate a gradual growth trajectory from 1180.0 million euros in 2023 to 1260.0 million euros in 2028. The five-year forecasted CAGR is 1.07%, with an overall expected growth rate of 5.49% during this period.
- Pre-COVID-19 growth from 746.8 million euros in 2013 to 1120.0 million euros in 2019.
- Significant decline of 66.5% in 2020 due to the pandemic.
- Strong rebound starting in 2021 with continuing growth into 2023.
- Forecasted sustained growth from 2024 to 2028 with a modest CAGR of 1.07%.
Future trends to watch for include the potential impact of economic recovery on corporate and private event spending, the evolution of consumer preferences towards hybrid and virtual events, and advancements in technology shaping catering service offerings. Additionally, increased focus on sustainability and health-conscious catering options might influence future sector growth.
