The bottled water market in Belgium witnessed fluctuations over the last decade, with actual volumes varying significantly year-on-year. From 2013 to 2017, the market experienced notable growth, with the highest volume recorded in 2017 at 734.95 million liters. Thereafter, the market saw a decline until 2021. The market then stabilized with slight positive growth from 2022 to 2023, reaching 661.06 million liters in 2023. The annual growth rate over the last two years was 2.80% in 2022 and 2.67% in 2023, showing a modest recovery. The compound annual growth rate (CAGR) over the past five years was -0.3%, reflecting the market's recent volatility.
Forecasts suggest a positive outlook, with the bottled water market projected to consistently grow, reaching 744.56 million liters by 2028. The forecasted five-year CAGR from 2024 to 2028 is 1.89%, with an overall growth rate of 9.8% over the same period. Future trends to watch for include the impact of increasing health consciousness among consumers, the push for sustainable packaging, and potential regulatory changes limiting single-use plastics that could affect market dynamics.
Overall, while the historical data shows some volatility, the forecasted data suggests a stable and gradual growth path for the bottled water market in Belgium in the coming years.
