Given the data set, the seafood market size in Belgium is forecasted to decrease gradually from 2024 to 2028, with values per capita steadily declining from €80.09 to €76.53 over the five-year period. According to historical data for 2023, the seafood market size value per capita stood at approximately €81.2. Observing year-on-year variations (YoY), the market is expected to witness a decrease of roughly 1.5% from 2024 to 2025, 1.2% from 2025 to 2026, 1% from 2026 to 2027, and 0.8% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) suggests an average annual reduction of about 1.3% over the last five years.
Future trends to watch for:
- Consumer preferences shifting towards alternative proteins.
- Impact of sustainable and ethical fishing practices on seafood prices and availability.
- Potential growth in domestic aquaculture mitigating some market declines.
- Influence of economic conditions on consumer spending on premium seafood products.
- Technological advancements improving supply chain efficiencies and reducing costs.
