Between 2012 and 2022, the molasses market size volume in Belgium exhibited a clear downward trend. The volume decreased from 385.35 million kilograms in 2012 to 287.42 million kilograms in 2022. This decline was marked by significant year-on-year fluctuations, including notable drops in 2019 and consistent small declines in subsequent years. Over the last two years (2021-2022), the market has seen further declines with the volume decreasing by 2.21%. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2022) stands at -6.31%, indicating an average yearly reduction in volume.
Future trends to watch for include potential stabilization in market volume, given the substantial reductions experienced over the past decade. Monitoring changes in consumer demand, macroeconomic factors, and industry innovations will be critical in assessing whether the market will recover or continue to decline.
