The wheat feed market in Belgium stood at 770 thousand metric tons in 2023, representing a 2.04% decline compared to the previous year. This is consistent with the past decade's trend, characterized by fluctuations and overall decline. Over the last five years, the compound annual growth rate (CAGR) shows a slight decrease of 0.49% per year.
Historical data reveals significant variations, such as a substantial 22.13% drop in 2015, followed by a 25.07% decline in 2018. However, some positive growth was noted in 2016 and 2017, with increases of 13.06% and 12.62%, respectively. The last two years showed minor declines: 2.03% in 2020 and 2.07% in 2021. The next five years are forecasted to continue this downward trend, with a negative CAGR of 1.85% and an overall decrease of 8.91% by 2028.
Future trends to watch for include the impact of climate change on wheat production, evolving dietary preferences towards plant-based proteins reducing demand for animal feed, and potential regulatory changes affecting agricultural import-export balances. Monitoring technological advancements in crop yield improvements and sustainable agriculture practices will also be crucial.
