From 2013 to 2023, the wholesale turnover in the Food, Beverages, and Tobacco sector in Belgium has shown a general upward trend, with a few fluctuations. The value stood at €60.99 billion in 2023, reflecting consistent growth, particularly strong in the years 2019 and 2020. The years 2014, 2017, and 2021 also exhibited notable increases, while minor declines were observed in 2015 and 2018. The Compound Annual Growth Rate (CAGR) for this period ranged from as low as 1.39% in 2018 to a peak of 6.51% in 2023.
The forecast for 2024 to 2028 indicates a continued growth pattern, albeit at a slower pace. The CAGR for the forecasted period is estimated at 1.55%, with an overall growth rate of around 8%. This suggests that while the sector will expand, the rate of increase will moderate compared to previous years.
Future trends to watch for include the impact of technological advancements, changes in consumer preferences towards healthier options, and potential regulatory changes that could affect the sector's dynamics. Monitoring macroeconomic indicators and supply chain innovations will also be crucial in understanding future sector developments.
