The market size value per capita for oil-cake resulting from the extraction of soya-bean oil in Belgium has seen a notable decline over the years. In 2013, the value stood at €36.73 per capita, decreasing to €25.32 by 2023. Over the past decade, a peak occurred in 2014 with €38.05 per capita, followed by a gradual decline. The market experienced substantial shifts between 2018 and 2023, with a continuous decrease in per capita value.
From 2022 to 2023, there was a decline of approximately 4.14%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 highlights an average decrease of about 1.20% per annum.
Future trends to watch for include:
- Impact of alternative protein sources on demand for soya-bean oil-cake.
- Shifts in agricultural policies affecting soya-bean production.
- Technological advancements in oil extraction processes potentially improving cost-efficiency.
