The production of milk-based drinks in Belgium, measured in Thousand Metric Tons, has seen some fluctuations between 2013 and 2023. As of 2023, the production stood at 185.06 Thousand Metric Tons. Over the past decade, peaks were observed in 2013 and 2019, while the lowest production levels were noted in 2017. The year-on-year variations indicate considerable instability, with some years experiencing growth, such as 2015 (+4.94%) and 2019 (+3.79%), while other years saw declines, notably 2014 (-5.45%) and 2022 (-5.31%). However, the past two years reflected minor changes with a 0.86% decrease in 2022 followed by a 1.25% increase in 2023. The average annual growth rate (CAGR) over the last five years was approximately 0.94%, suggesting moderate future growth.
Looking ahead, the forecasted data indicates a steady rise in production, reaching 196.32 Thousand Metric Tons by 2028. The five-year CAGR of 0.94% and an overall growth rate of 4.8% from 2024 to 2028 highlight a more consistent uptrend.
Future trends to watch for include:
- Technological advancements in dairy processing.
- Changing consumer preferences towards health-focused beverages.
- Potential impacts of regulatory changes and sustainability practices in the dairy industry.
