The production of the vegetable oil and animal fats sector in Belgium showed fluctuations from 2013 to 2022. Significant variations include a 27.08% increase in 2016, followed by a dip of 26.81% in 2018, and a steady recovery peaking again in 2020 with a 9.97% rise. The year-on-year growth in 2024 is projected to be at 2.47%, with a forecasted CAGR of 1.76% over the next five years.
Future Trends: Given the forecasted growth of 9.1% over the next five years, the vegetable oil and animal fats production sector will likely see steady development. Factors such as sustainability practices, shifts in consumer preferences towards plant-based oils, and technological advancements in oil extraction will play a key role in shaping future production trends.
