The production value of plastic packaging goods in Belgium has shown variability over the past decade. After a dip in 2014 and a significant rise in 2016 and 2017, the value fell sharply in 2018 and again in 2020. However, there was a noticeable recovery in 2021 and 2022, with 10.57% year-on-year growth in 2022. In 2023, the value stood at 1.85 Billion Euros, showing a 7.17% increase from the previous year. Over the last five years, the Compound Annual Growth Rate (CAGR) has been 4.29%. Forecast data indicates continued growth, with the CAGR expected to be 1.33% over the next five years, leading to a 6.85% cumulative growth rate by 2028, reaching 2.01 Billion Euros.
Future trends to watch for include increased regulatory focus on sustainability, potential shifts towards biodegradable and recyclable materials, and technological advancements in packaging design that could drive efficiency and lower production costs. Monitoring consumer preferences and their willingness to pay for eco-friendly options will also be crucial.