Whole dried milk production in Belgium has shown significant fluctuations over the past decade. The period between 2013 to 2016 saw a general decline, with a notable dip in 2015. However, a significant rise occurred in 2017, followed by a drop in 2018. Over the years from 2019 to 2023, the production levels remained relatively stable but demonstrated a slight decreasing trend.
In 2023, the production stood at 43.61 thousand metric tons. An analysis of the year-on-year variation shows a 1.94% decline in both 2022 and 2023. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was approximately -1.94%, indicating a gradual reduction over these years.
Looking ahead, the forecast up to 2028 shows a continuous downward trend, with a forecasted CAGR of -1.73% for the next five years. This translates to an overall decrease of 8.34% by 2028.
Future trends to watch for include:
- Potential advancements in production technology.
- Changes in international trade policies affecting dairy exports.
- Shifts in consumer demand towards alternative dairy products.
