Over the past decade, Belgium's production of plastic packing goods has shown significant fluctuations. Between 2013 and 2014, there was a consistent decline, reaching a low in 2015. A substantial rebound occurred in 2016, only to be followed by moderate declines in 2017. A remarkable surge in 2018 and 2019 saw values peaking sharply, followed by a steep drop in 2020. Growth resumed in 2021 and surged dramatically again in 2022 and 2023. As of 2023, the production stood at 1637.7 million kilograms.
Key observations from the data include:
• The last two years saw significant production increases, with 2022 experiencing a 274% rise year-on-year and 2023 a further 20.14% increase.
• The average annual growth rate (CAGR) over the last five years was 13.54%.
Moving forward, the forecast indicates stability in production values from 2024 to 2028 with no significant growth or decline expected. The forecasted 5-year CAGR is 0%, pointing to a period of stabilization for Belgium's plastic packing goods production.
Future trends to watch for include potential regulatory changes impacting plastic usage, technological advancements in packaging materials, and shifts in consumer preferences towards sustainable packaging alternatives, which could influence production volumes.
