Forecast: Production in Fertilizers Sector in Belgium

The production in the fertilizers sector in Belgium stood at 1.56 billion Euros in 2023, experiencing fluctuating yearly changes from 2013 to 2023. Notable is the sector's peak in 2017 and 2018 at 1.59 billion Euros, followed by declines in 2019 and 2020. The most recent years saw a recovery with annual growth figures of 5.23% in 2022 and 4.93% in 2023. The last five-year compound annual growth rate (CAGR) from 2018 to 2023 is slightly negative at -0.5%.

Future outlooks predict steady growth with the sector anticipated to reach 1.91 billion Euros by 2028. The forecasted five-year CAGR stands at 3.25%, translating to an overall growth rate of 17.34% from 2024 to 2028.

Trends to watch include technological advancements in fertilizer production, increasing demand for sustainable and eco-friendly fertilizers, regulatory changes influencing production and distribution, and potential shifts in agricultural practices.