The total shellfish production in capture fisheries in Belgium witnessed a volatile trend over the years, with significant fluctuations. In 2023, the production stood at €11.273 million. The year-on-year variations indicate a highly dynamic market, with highlights such as a -32.79% decrease in 2023 compared to 2022's peak of €16.774 million. Over the last two years, there's been an overall decline, following a substantial increase in 2022. The average annual growth rate (CAGR) over the last five years is 3.05%. The forecast suggests a moderate but steady growth rate with a forecasted CAGR of 3.46% over the next five years, expecting to reach €14.027 million by 2028, indicating an overall growth rate of 18.52%.
Future trends to watch for:
- technological advancements in fishing techniques
- sustainable fishing practices
- market demand fluctuations due to economic changes
- impact of climate change on shellfish habitats
- regulatory changes in the fisheries sector
These factors could significantly affect the production capacities and market dynamics in the coming years.
