The turnover in the Packaging Activities sector in Belgium demonstrated various trends from 2013 to 2023. The sector started at €523.5 million in 2013, peaked at €711.9 million in 2020, and settled at €706.0 million in 2023. This period saw a mix of growth and contraction, with notable increases in some years like 2014 (+10.09%) and 2016 (+9.08%), offset by declines in years such as 2017 (-1.82%) and 2018 (-3.71%). The 5-year CAGR stood at 2.48% by 2023, reflecting moderate growth.
Looking ahead, from 2024 to 2028, the forecast predicts a steady, if slow, increase in turnover, culminating at €718.9 million in 2028. The forecasted 5-year CAGR is projected at a modest 0.26%, indicating a slow but stable growth trend. The year-on-year variations from 2023 to 2024 and beyond reflect this stability, with minor percentage changes. The forecasted growth rate over the next five years, at 1.28%, suggests the sector will not experience significant fluctuations but will maintain steady progress.
Future trends to watch for:
- Technological advancements impacting packaging innovations and efficiency.
- Increasing demand for sustainable and eco-friendly packaging solutions.
- Shifts in consumer preferences driving new packaging formats.
- Policy changes regarding packaging waste management and recycling.