Forecast: Bakery Products Number of Persons Employed in Belgium

The number of employees in Belgium's bakery products sector has shown variability over the past decade. Significant fluctuations can be observed, particularly the steep declines in 2018. The employment figure stood at 22.04 thousand in 2023, marking a year-on-year decrease of 1.21%. The Compound Annual Growth Rate (CAGR) over the past five years was 0.65%, indicating relatively stable employment levels despite short-term variances.

For the years 2024 to 2028, a declining trend is projected, with a forecasted 5-year CAGR of -0.97%. The employment number is expected to decrease steadily, reaching 20.74 thousand by 2028. This gradual decline suggests potential industry challenges such as automation, shifts in consumer preferences, and market consolidation.

Future trends to watch for include technological advancements and automation impacting labor needs, evolving consumer preferences towards healthier bakery options, and market consolidation potentially leading to fewer but larger bakery operators. Monitoring these trends will be crucial for strategic planning and workforce management within the industry.