Household expenditure on catering services in the UK exhibited significant fluctuation over the past decade, starting at €101.12 billion in 2013 and reaching €130.01 billion by 2023. The highest growth was in 2015 with a year-on-year increase of 14.53%, while the lowest was in 2016 with a decline of 7.65%. Following a recovery from the pandemic dip in 2020, the expenditure rose steadily, albeit modestly. By 2023, the value represented a 1.4% increase from the previous year. The average CAGR over the last 5 years (2019-2023) was 1.86%, indicating overall moderate growth.
Looking ahead, the forecast suggests a steady rise in household expenditure on catering services, reaching €139.02 billion by 2028. The CAGR for the forecasted period (2024-2028) is expected to be 1.11%, implying continued but modest growth. Future trends to watch include changes in consumer behavior, the impact of economic conditions, and potential disruptions in the hospitality industry.
