The maize market size in Belgium has experienced fluctuations over the past decade, with the highest volume recorded in 2014 at 16.0 thousand metric tons. The most significant decline occurred between 2015 and 2016, with a drop of 30.77%. Stability was noted in recent years, maintaining at 12.0 thousand metric tons from 2020 to 2023. The year 2023 recorded no growth compared to 2022, indicating a stagnation. The compound annual growth rate (CAGR) over the past five years was -1.59%, suggesting a gradual decrease.
Forecast for the coming years shows a slight decline, with the market projected to drop to 11.0 thousand metric tons by 2028, and a forecasted five-year CAGR of -1.73%. This represents an 8.33% decrease from current levels.
Future trends to watch for include:
- Technological advancements in agriculture which might impact production volumes.
- Policy changes relating to agricultural subsidies and trade that could influence market dynamics.
- Climate change effects, which could alter crop yields and market availability.
