Sales of insecticides produced by fermentation in Belgium have shown varied trends from 2013 to 2023. In 2023, sales stood at 7.79 thousand kilograms. There was an initial decline in 2013, but the market then experienced significant growth with notable peaks in 2018 (43.38%) and 2021 (62.93%). Recent years saw a moderate rise with a year-on-year growth of 5.93% in 2023. A compound annual growth rate (CAGR) of 0.3% over the last five years indicates modest stability following more volatile earlier years.
Future trends to watch for include:
- A projected steady CAGR of 3.8% from 2024 to 2028, suggesting a period of consistent growth.
- Monitoring technological advancements in fermentation processes and their impact on production efficiency.
- Regulatory changes and their potential implications on the market environment for biological insecticides.
