Forecast: Output of Seafood in Belgium

The analysis of seafood output in Belgium, expressed in Million Euros, reveals a fluctuating trend over the past decade. In 2023, the output stood at 134.63 million Euros. Year-on-year variation shows substantial shifts, with peak growth in 2016 at 21.88% and notable declines in 2014 and 2017 at -3.34% and -10.25%, respectively. The Compound Annual Growth Rate (CAGR) over the last five years leading up to 2023 was 1.77%. This indicates moderate but steady growth despite periodic dips.

Future trends in seafood production indicate a slightly upward trajectory. The forecast for the next five years (2024-2028) suggests an annual average growth rate (CAGR) of 0.37%. This modest growth points towards stabilization with a cumulative growth rate of 1.84% over the period.

Future trends to watch for include:

• Global economic conditions impacting seafood demand and prices.
• Technological advancements in aquaculture and fishing practices.
• Environmental regulations and sustainability initiatives.
• Potential changes in consumer preferences toward plant-based alternatives.