The wine market in Belgium has shown significant fluctuations over the past decade. Starting at 282.0 thousand metric tons in 2014, it dropped sharply to 215.0 thousand metric tons in 2015 but rebounded to 301.0 thousand metric tons by 2017. The market experienced a steady growth trend from 2018 onwards, with a slight dip in 2020 likely due to the pandemic. By 2023, the wine market reached 329.0 thousand metric tons, marking a minimal year-on-year increase of 1.23%. The 2019-2023 CAGR was a modest 0.31%.
Future trends suggest continuous but slow growth, with the market expected to grow at an average rate of 0.93% CAGR over the next five years, reaching 347.62 thousand metric tons by 2028. Expected factors influencing this trend include evolving consumer preferences, potential economic shifts, and changes in international trade policies impacting wine imports.
