Between 2014 and 2017, honey demand in Belgium remained constant at 7.0 thousand metric tons. In 2018, there was a significant drop of 28.57% to 5.0 thousand metric tons. Since then, the demand has stabilized at this lower level through 2023. The year-on-year variation for 2023 shows no change, reflecting a consistent demand. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 is 0%, indicating no growth during these years. Forecast data suggests a decline, with demand lowering from 2027 onwards to 4.0 thousand metric tons in 2028, translating to a -4.36% CAGR over the next 5 years, highlighting a 20% reduction forecast.
Future trends to watch for:
• The potential impacts of changing consumer preferences towards natural sweeteners.• Effects of any environmental policies and conservation efforts on honey production and demand.• Market dynamics and competition from alternative sweeteners.• Economic factors and their influence on consumer spending habits.
