The prepared meals sector in Belgium has experienced significant fluctuations in turnover over the past decade. Between 2013 and 2017, the market showed a trend of alternating growth and decline, with the most substantial increase observed in 2018. However, from 2019 to 2023, the sector stabilized with modest year-on-year variations. As of 2023, the turnover stood at 710.8 million euros. Over the last two years (2022-2023), the variations were minimal, with a slight year-on-year growth of 0.58%. The five-year CAGR leading up to 2023 was -2.81%, indicating a general trend of stagnation or slight decline.
Future forecasts from 2024 onwards suggest a slow but consistent growth pattern, limited by the market's earlier volatility. The average annual growth over the next five years is projected to be 0.28%, cumulating to a 1.4% increase by 2028. This trend indicates a relatively stable market with incremental improvements expected.
Future trends to watch include potential impacts of emerging consumer preferences for healthier and more sustainable meal options, technological innovations in food preparation and logistics, and broader economic conditions that could influence consumer spending power.
