The annual production of cooked crustaceans in Belgium's capture fisheries for human consumption experienced significant fluctuations from 2013 to 2023. The years 2015 and 2020 saw notable drops of 38.58% and 38.09% respectively compared to the previous years. Conversely, 2018 and 2022 experienced substantial upsurges with year-on-year variations of 41.54% and 144.27% respectively. By 2023, the production volume stood at 575.6 metric tons, marking a 35.65% decline from 2022.
The compound annual growth rate (CAGR) over the five-year period from 2018 to 2023 was volatile, culminating in a negative rate of -6.18%. This indicates significant instability in the production volume over this period.
Looking into the future, from 2024 onwards, the forecast anticipates a more stable growth trajectory. The production is expected to grow at a CAGR of 1.15% over the next five years, culminating in an overall growth rate of 5.87% by 2028.
Future trends to watch for include:
- Potential impacts of environmental regulations and sustainability initiatives on capture fisheries.
- Market demand fluctuations driven by changes in consumer preferences and economic conditions.
- Technological advancements in fishing practices and processing methods.
