The animal production industry in Belgium exhibited fluctuations over the past decade. Despite several years of decline, it displayed notable growth in 2022, peaking at 3.94 Billion Euros. As of 2023, it stood at 3.63 Billion Euros, reflecting a 7.93% decrease from the previous year. Over the last five years, the average annual growth rate (CAGR) was 3.15%, driven by a significant spike in 2022.
The forecast from 2024 to 2028 indicates a continued upward trend with a projected average annual growth rate of 0.62%. Specifically, from 2023 to 2028, the overall growth rate is estimated to be 3.14%.
Future trends to watch for include:
- Technological advancements in livestock management
- Climate change impact and sustainability practices
- Shifts in consumer demand towards plant-based alternatives
- European regulatory changes impacting production and export
