Over the past decade, the turnover in the dairy products sector in Belgium experienced significant volatility. Starting with an upward trend from 2013 to 2014, there was a sharp decline until 2016, followed by a fluctuating recovery period. Noteworthy is the strong recovery in 2020, driven by an increase in demand. As of 2023, the turnover is at 4.86 billion Euros, reflecting a slight annual growth rate.
Key Variations:
- Year-on-Year: 2022 at 0.73%, 2023 at 0.72%
- Last 5 Years CAGR: 1.12%
Looking forward, the forecast from 2024 to 2028 suggests a modest growth trajectory with an average annual growth rate (CAGR) of approximately 0.54%. Expected turnover in 2028 is 5.03 billion Euros.
Trends to watch for:
- Innovations in dairy alternatives
- Shifting consumer preferences towards health-conscious options
- Impact of regulatory changes on the dairy industry
