Since 2013, the turnover in the Packaging Paper Sector in Belgium has exhibited fluctuating trends. After a growth phase from 2013 to 2017, a notable decline occurred in 2018. Recovery has been gradual since, with turnover stabilizing around 1.38 billion Euros by 2023. The year-on-year variations reveal a return to modest growth following the dip in 2018, with a 2023 year-on-year increase of 0.17%. Over the last five years (2018-2023), the CAGR stands at 2.87%, indicating an overall upward trend.
Looking ahead to 2024-2028, forecasts suggest a stabilization in turnover at 1.38 billion Euros. The forecasted 5-year CAGR is minimal at 0.09%, suggesting a period of steady and flat growth. With a forecasted growth rate of only 0.43% over these five years, the sector could witness low to negligible expansion.
Future trends to watch for:
- Technological advancements in packaging materials.
- Regulatory changes influencing sustainable packaging solutions.
- Shifts in consumer demand towards eco-friendly products.
- Supply chain disruptions and raw material price volatility.