From 2013 to 2023, the turnover in vegetable oil and animal fats sector in Belgium experienced significant fluctuations, ranging from a low of 3.6 billion Euros in 2015 to a high of 5.37 billion Euros in 2020. The year-on-year variations highlight substantial volatility, with notable peaks and troughs across the decade. Importantly, the last two years recorded moderate growth with year-on-year increases of 2.22% and 2.29%. The CAGR for the five years leading up to 2023 stands at 6.57%, reflecting a solid growth trend. Looking ahead, the average 5-year CAGR forecasted till 2028 is 1.59%, indicating modest but steady growth.
Future Trends to Watch
Future trends to monitor in the Vegetable Oil and Animal Fats sector in Belgium include advancements in sustainable production processes, shifts in consumer preferences toward healthier and organic options, and potential impacts of regulatory changes on the industry. Additionally, global economic factors such as trade policies and commodity price fluctuations will play pivotal roles in shaping the sector’s turnover.
