From 2013 to 2019, the Beverage Serving Activities sector in Austria saw modest fluctuations, with production hovering around 550 million Euros. A significant dip occurred in 2020, attributed to the global pandemic, causing a 40.68% decline to 353.2 million Euros. Recovery began in 2021 with a 37.83% increase and continued into 2022, showing a 17.15% rise. By 2023, the sector reached 630.4 million Euros, indicating a strong rebound with a 10.54% increase. The five-year CAGR leading up to 2023 stood at 1.18%.
Future trends to monitor:
- Continued recovery and growth with forecasted production rising steadily to 677.6 million Euros by 2028.
- A focus on innovation and sustainability within the beverage industry could drive further expansion.
- Potential impacts of inflation and economic fluctuations on consumer spending in the sector.