The bread market size in terms of volume in Belgium has exhibited significant fluctuations from 2013 through 2023. In 2023, the volume stood at 372.82 million kilograms, marking a slight decrease of -1.8% year-on-year compared to 2022. The compound annual growth rate (CAGR) over the past five years leading to 2023 was 2.83%. Observing trends over a decade, the market saw a substantial decline between 2013 and 2018, followed by phases of recovery and subsequent contraction.
However, forecasts from 2024 onwards suggest a continual decline, with a projected five-year CAGR of -1.49%, resulting in an overall decrease of -7.21% by 2028. This indicates that the market volume may continue to shrink gradually.
Future trends to watch for:
- Changes in consumer preferences towards healthier or alternative grains
- Impact of economic factors such as inflation on purchasing power
- Innovations in bread production and variety
- Potential shifts due to increased health consciousness or dietary restrictions
