From 2013 to 2019, the production of food and beverage service activities in Belgium experienced a steady growth, peaking in 2019 at 15.88 billion Euros. However, in 2020, the industry faced a significant downturn with a year-on-year decrease of 42.69% due to COVID-19. Recovery was evident in 2021 with a surge of 64.15% followed by a continued growth into 2023 where it stood at 17.28 billion Euros. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 1.55%, indicating a positive but moderate recovery. By 2028, production is forecasted to reach 18.92 billion Euros, reflecting a 7.97% growth over five years with a CAGR of 1.55%.
Future trends to watch for include:
- Technological advancements in food delivery services shaping the industry.
- Shifts towards sustainable and organic food production impacting supply chains.
- Ongoing economic challenges or global health crises that might impact growth rates.
- Consumer behavior changes post-pandemic influencing demand dynamics.
