The wheat processing industry in Belgium has shown consistent growth over the past decade, with volumes rising from 1.45 million metric tons in 2014 to 1.86 million metric tons in 2023. In 2023, the year-on-year increase was 1.25%, aligning with the overall average growth trend. The compound annual growth rate (CAGR) over the past 5 years reached 1.28%, indicating steady progress. The upcoming forecasts project continued growth, taking the volume to 1.93 million metric tons by 2026 and 1.97 million metric tons by 2028, with a 5-year forecasted CAGR of 0.88%.
- 2015 showed a significant spike with a 16.06% year-on-year increase, followed by a correction in 2016 with a -5.55% change.
- Growth rates stabilized between 2017 to 2019, with fluctuations mostly within the 1.26% to 11.17% range.
- The last two years, 2022 and 2023, exhibited slight growth variations of 1.27% and 1.25%, respectively.
- Future trends show moderate but consistent growth, projecting an increase to 1.97 million metric tons by 2028, with a cumulative growth rate of 4.45% over five years.
Future trends to watch for include potential impacts of climate change on wheat yields, advances in processing technology, and shifts in export-import dynamics. Monitoring these factors will be crucial for anticipating market adaptations and ensuring sustainability in wheat processing in Belgium.
