Based on historical data, seafood processing production value in Belgium has seen a steady increase from €483.1 million in 2013 to €756.7 million in 2023, translating to a compound annual growth rate (CAGR) of 3.46% over the decade. Particularly in the last two years, the year-on-year growth rates were 3.72% in 2022 and 3.54% in 2023, indicating a stable upward trend.
Looking at future trends, forecasts suggest a further increase, with production value expected to reach €882.4 million by 2028. This reflects a five-year forecasted CAGR of 2.44%, implying a slower but continuous growth trajectory with a total projected growth rate of 12.8% over the next five years.
Trends to watch for:
- Emerging technologies in seafood processing - Fluctuations in raw material availability and prices - Shifts in consumer preferences towards sustainable and traceable seafood products - Regulatory changes regarding food safety and environmental impact- Expansion of export markets and international trade agreements
