Forecast: Production in Prepared Meals Sector in Belgium

The production in the Prepared Meals sector in Belgium has shown substantial volatility over the past decade. Starting from 624.9 million euros in 2013, the sector's output saw significant fluctuations, peaking at 817.6 million euros in 2018 and then experiencing a decline. By 2023, the sector's production stood at 676.8 million euros, reflecting modest growth. Over the last two years (2022-2023), the sector displayed stability with year-on-year growth rates of 0.33% and 0.27%, respectively. The 5-year CAGR heading into 2023 was minimally positive, indicating a slight overall increase.

From 2024 onwards, production is forecasted to demonstrate incremental year-on-year growth, with projections reaching 681.6 million euros by 2028. This reflects an average procedural growth rate of 0.49% and a 5-year CAGR of 0.1% from 2024 through 2028.

Trends to watch in the future include the impact of consumer preferences shifting towards healthy and sustainable options, growing demand for convenience foods, and technological advancements in food production. Monitoring these trends will be crucial for anticipating further developments in the sector.