Pelagic fish feed in Belgium has shown a steady increase in volume from 2014 to 2023, standing at 20.27 thousand metric tons in 2023. Over the past five years, the compound annual growth rate (CAGR) was 1.42%, indicating a moderate but consistent upward trend. Year-on-year variation has been mostly positive, with occasional dips, such as a 6.16% decrease in 2017, followed by immediate stabilization. The elongation of this stability can be observed through the recent year-on-year variations, which hover around 1.2%-1.3%. Future projections indicate a continued, though slightly slower, growth with a forecasted CAGR of 0.84% through 2028.
Trends to watch for in the future include:
Environmental regulations impacting fish feed production and usage.
Technological advancements in feed formulation improving efficiency.
Global market dynamics affecting raw material availability and cost.
Consumer demand for sustainably sourced pelagic fish contributing to growth.
