Oilseeds processing in Belgium has followed a stable growth trajectory over the past decade, reaching 2.23 million metric tons in 2023. This represents a minimal year-on-year increase of 1% from 2022. The compound annual growth rate (CAGR) over the last five years has been approximately 0.96%, indicating a steady yet modest growth. Historical fluctuations show more significant increases between 2015 and 2017 due to various market factors, but growth has mild since 2018, with year-on-year variations around 1% annually.
Projected forecasts suggest that the processing volume will continue to rise, hitting 2.33 million metric tons by 2028, with an expected CAGR of 0.7% over the next five years. This forecasted growth rate is relatively conservative, reflecting stability more than aggressive expansion.
Future trends to watch for include potential impacts of geopolitical instability on supply chains, industry shifts towards sustainable practices, and technological advancements in processing methods. Additionally, market diversification and innovations in biofuel production could significantly influence demand dynamics and processing volumes.
