In 2023, soybean production in Belgium stood at 470.0 thousand euros. Based on the forecasted data, production is expected to rise continuously from 2024 through 2028. The sequential year-on-year percentage changes are as follows:
- 2024: Projected to increase by 14.9% compared to 2023.
- 2025: Expected to grow by 14.8% compared to 2024.
- 2026: Anticipated to rise by 12.9% from 2025 levels.
- 2027: Forecasted to increase by 11.4% compared to 2026.
- 2028: Expected to grow by 10.2% from 2027.
The compound annual growth rate (CAGR) for soybean production over this five-year period from 2023 to 2028 is estimated to be 12.8%, depicting a robust upward trend.
Future trends to watch for include Belgium's response to global soybean demand driven by alternative protein sources and biofuel production needs. Also, potential advancements in agricultural technology and sustainability practices could significantly impact yield efficiencies and production levels.
