As of 2023, the production of food, beverages, and tobacco in Sweden stood at 191.29 billion Swedish Kronas, exhibiting a steady annual growth trend over the past decade. From 2013 to 2023, the industry experienced fluctuating but generally positive year-on-year variations, peaking at 5.23% in 2016 and remaining positive despite minor declines in a few years. The compound annual growth rate (CAGR) has been relatively stable, reaching 1.94% over the last five years.
Looking forward, the forecasted data suggests the industry will continue to grow, albeit at a slightly slower rate. The five-year CAGR from 2024 to 2028 is anticipated to be 1.08%, with an overall growth rate of 5.52% over the same period. Key trends to watch for in the future include:
- Influence of sustainability and environmental regulations on production practices
- Technological advancements and automation in manufacturing processes
- Shifts in consumer preferences towards healthier and organic products
- Potential economic impacts and market fluctuations impacting demand and supply chains