The output of environmental services in agriculture, forestry, and fishing in Belgium has shown a strong upward trend from 2014 to 2023, growing from €172.73 million to €323.11 million. The year-on-year growth peaked in 2018 with an increase of 19.52%, and the compound annual growth rate (CAGR) over the five years leading up to 2023 stood at 5.84%. The growth trend has, however, moderated in recent years, with the year-on-year variation hovering around 5% for 2022 and 2023. Moving forward, the forecast indicates a continued growth trajectory, albeit at a slower pace, with a five-year CAGR of 3.53% projected up to 2028, leading to an estimated €403.67 million by that year.
Future trends to watch for include:
- Increased focus on sustainable practices and green technologies.
- Impact of regulatory changes and subsidies related to environmental conservation.
- Technological advancements in agriculture, forestry, and fishing.
- Potential market volatility due to climate changes and other environmental factors.
