In 2023, the demand for soybeans in Belgium stood at 458.0 Thousand Metric Tons. The forecasted data for the upcoming years shows a steady upward trend: 475.0 Thousand Metric Tons in 2024, 495.0 Thousand Metric Tons in 2025, 514.0 Thousand Metric Tons in 2026, 533.0 Thousand Metric Tons in 2027, and 551.0 Thousand Metric Tons in 2028. Comparing the year-on-year variations:
- 2024: 3.7% increase- 2025: 4.2% increase- 2026: 3.8% increase- 2027: 3.7% increase- 2028: 3.4% increase
The compound annual growth rate (CAGR) over the last five years is approximately 3.8%.
Future trends to watch for include the growing demand for plant-based proteins, advancements in agricultural technologies, and potential changes in trade policies. These factors can significantly impact the soybean market in Belgium.
