The crustaceans market in Belgium witnessed a significant decline in volume from 2014 to 2023, starting from 28.28 Thousand Metric Tons in 2014 and decreasing to 6.97 Thousand Metric Tons in 2023. The market saw major drops in years like 2015 (-24.61%) and 2016 (-24.2%) and only a marginal rise in 2021 (+1.47%). The compound annual growth rate (CAGR) over the last five years was -11.67%. Future projections indicate a continuous steep decline, with a forecasted volume of just 0.94 Thousand Metric Tons by 2028, translating to a forecasted 5-year CAGR of -30.23%.
Future trends to watch for include:
- Permanent shifts in consumer preferences.
- The impact of sustainability and environmental concerns on seafood consumption.
- Regulatory changes and their effects on import and export dynamics.
