The production of sesame oil in Belgium has exhibited fluctuations from 2013 to 2023, starting at 819 metric tons and climbing to 886 metric tons in 2023. Notably, significant peaks and troughs were observed, such as a substantial increase in 2016 followed by a sharp decline in 2017. The last two years saw minimal year-on-year variations of 0.80% in 2022 and 0.57% in 2023. The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 stands at a modest 0.18%, indicating stagnation.
Looking ahead, the production forecast for 2024 and beyond projects a steady increase, reaching 917.22 metric tons by 2028. This forecasted period reflects an average annual growth rate of approximately 0.54% (CAGR), with a cumulative growth rate of 2.74% over the five years.
Future trends to watch for:
- Potential impacts of climate change on sesame crop yields.
- Technological advancements in sesame oil extraction.
- Shifts in consumer preferences towards healthier cooking oils.
- Trade policies affecting sesame imports and exports.
