The dairy and cheese processing production value in Belgium experienced fluctuations between 2013 and 2023, with the final value standing at 4.19 Billion Euros in 2023. Over the previous two years, the year-on-year variations were modest with a 0.79% increase in 2022 and a 0.78% rise in 2023. The CAGR over the last five years stood at 0.81%, indicating a steady growth trend despite some earlier volatility.
Key trends observed over the longer period include:
- Significant growth in 2013 (17.03%) and 2017 (20.42%), followed by notable declines in 2015 (-18.8%) and 2016 (-12.18%).
- A recovery phase starting from 2017 with mostly positive year-on-year variations despite minor dips in certain years.
- Normalized growth patterns emerging towards the latter part of the decade, suggesting a stabilization in the market.
The forecast for the next five years indicates a moderate but sustained growth with a projected CAGR of 0.58% and an overall growth rate of 2.94% by 2028. Future trends to watch include potential impacts of technological advancements in dairy processing, shifts in consumer preferences towards sustainable and organic products, and potential regulatory changes within the EU impacting production and trade.
