In 2023, Belgium's export of sparkling grape wines stood at 36.893 million US dollars. Over the past two years, exports have shown modest fluctuations, with a 3% increase in 2022 followed by a 2.15% decline in 2023. The compound annual growth rate (CAGR) over the last five years stands at -4.18%, indicating a downward trend overall.
Looking to the future, the forecasted data suggests a gradual decline with a 5-year CAGR projected at -1.93%. By 2028, the export value is expected to dip to 32.540 million US dollars, reflecting an overall decrease of 9.27% over the forecast period.
Future trends to watch for:
- Global economic recovery trends and their impact on luxury goods.
- Market dynamics in emerging economies and their impact on demand.
- Trade policies and economic agreements within the European Union.
- Consumer preferences shifting towards local or sustainable products.
