From 2013 to 2023, the value added in food and beverage service activities in Belgium showed a consistent upward trend by increasing from 4.86 billion Euros to 6.78 billion Euros. The year-on-year growth rates varied, with the highest increase of 7.69% in 2014, while the overall average growth rate (CAGR) over the last five years was 2.12%. Notably, between 2022 and 2023, the growth rate was 1.91%, aligning with the steady growth trend observed in previous years. The forecasts suggest a continuation of this trend, with an expected value of 7.37 billion Euros in 2028, pointing to a forecasted CAGR of 1.34% over the next five years.
Future trends to watch for in the food and beverage service sector in Belgium include:
- Technological advancements and their impact on operational efficiencies.
- Changes in consumer preferences towards healthier and sustainable options.
- Potential economic fluctuations and their influence on consumer spending.
- Regulatory shifts impacting food safety and labor practices.