Analyzing the historical data from 2014 to 2023, Belgium's alcoholic beverages production in volume terms has shown fluctuations with an overall upward trend. In 2023, production stood at 2.86 million metric tons, showcasing a slight year-on-year increase of 1.06%. Notable variations over the years include significant growth in 2015 (9.12%) and 2016 (11.57%), followed by a steep decline in 2018 (-10.01%) and a sharp drop in 2020 (-16.03%). The production recovered in 2021 with a strong 15.74% increase. The Compound Annual Growth Rate (CAGR) over the last five years stands at 1.77%, indicating a stable growth trajectory despite recent volatility.
Looking ahead, production is forecasted to continue its upward trend, reaching 3.0 million metric tons by 2028, driven by a forecasted 5-year CAGR of 0.86% and an overall 5-year growth rate of 4.35%. Future trends to watch for include potential impacts of regulatory changes, consumer preferences shifting towards premium and craft beverages, and global economic conditions affecting production costs and demand.
