The wheat or meslin flour market in Belgium registered a volume of 671.28 million kilograms in 2023, experiencing a year-on-year decline of 0.82%. Analyzing the trends, the last five years show a negative CAGR of 0.63%, indicating a gradual decrease in market volume.
Trends over the past decade exhibit a general downward trajectory with intermittent fluctuations. Since 2013, the market volume has mostly decreased, with occasional rebounds. Notably, between 2020 and 2021, there was a significant rise of 5.91%, followed by a marked decline in subsequent years.
Forecasted data suggest a continued decline with a projected five-year CAGR of -0.66%, reaching an estimated 644.25 million kilograms by 2028. This forecast indicates a continued trend of shrinking market volume.
Future Trends to Watch For:
- Changing consumer preferences towards alternative flours and dietary trends
- The impact of agricultural policies and climate change on wheat production
- Technological advancements in flour production and processing
- Economic factors influencing the baking and food manufacturing sectors
