Key Market Indicators
Belgium's food expenditures are projected to reach approximately €35 billion by 2028, up from €31 billion in 2023. This marks an average annual growth rate of 2%. Since 2000, Belgian demand has been increasing at an annual rate of 3.2%. In 2023, Belgium ranked ninth in food expenditures, with Romania slightly ahead at €31 billion. France, Italy, and the United Kingdom held the second, third, and fourth positions, respectively. In contrast, Belgian food sales are expected to slightly decline, reaching around €42 billion by 2028, down from €42 billion in 2023. This represents a modest annual decrease of 0.1% in compound annual growth rate (CAGR). Since 2010, the Belgian market has shown a yearly increase of 1.1%. In 2023, Belgium was eighth in food sales, trailing Poland, which also posted €42 billion. France, Italy, and Spain occupied the second, third, and fourth spots in this category.
