Food - Belgium

Belgium

Revenue in the Food market amounts to US$42.62bn in 2024. The market is expected to grow annually by 3.66% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$9.23bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$3,638.00 are generated in 2024.
In the Food market, 1.3% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 7,705.00m kg by 2029. The Food market is expected to show a volume growth of 1.6% in 2025.
The average volume per person in the Food market is expected to amount to 612.90kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Belgium is experiencing slow growth due to factors such as changing consumer preferences, increasing health consciousness, and the convenience of online food services. The sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Convenience Food, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes, and Pasta & Rice are all impacted by these trends. The overall market is expected to continue growing at a negligible rate in the coming years, with advancements in technology, sustainability concerns, and changing dietary habits influencing this growth.

Customer preferences: Consumers in Belgium are becoming more health-conscious and are seeking out healthier and more sustainable food options. This has led to a rise in demand for organic and plant-based products, as well as a growing interest in food transparency and traceability. Additionally, the increasing diversity of the Belgian population has also influenced consumer preferences, with a growing demand for international and ethnic foods. This trend is further driven by the rise of online grocery shopping and meal delivery services, providing consumers with convenient access to a wider range of food options.

Trends in the market: In Belgium, The Food market is experiencing a growing demand for organic, locally-sourced and sustainable products. This trend is driven by an increasing awareness among consumers about the impact of their food choices on the environment and their health. As a result, more food retailers and restaurants are offering a wider range of eco-friendly and ethical options. This trend is expected to continue as consumers become more socially and environmentally conscious, presenting opportunities for industry stakeholders to cater to this demand and differentiate themselves in the market. Additionally, the rise of online food delivery services and meal kit subscriptions is also changing the landscape of The Food market in Belgium, providing convenience and variety for consumers while posing challenges for traditional brick-and-mortar establishments. As technology continues to advance and consumer preferences shift, it will be crucial for industry players to adapt and innovate in order to stay competitive in the evolving food market landscape in Belgium.

Local special circumstances: In Belgium, The Food market is heavily influenced by its strong agricultural sector and rich culinary traditions. The country's central location in Europe has also made it a hub for international trade, resulting in a diverse and dynamic food market. Additionally, strict regulations on food safety and quality have helped maintain consumer trust and confidence in the market. Furthermore, the country's famous beer and chocolate industries have given rise to unique food and beverage offerings, catering to both local and international tastes.

Underlying macroeconomic factors: The Food market in Belgium is greatly impacted by macroeconomic factors such as consumer spending habits, government policies, and international trade agreements. With a strong focus on sustainability and quality, the Belgian food market is heavily influenced by global trends in food production and distribution. Additionally, the country's stable economy and favorable business climate have attracted significant investments in the food industry, leading to the growth of both domestic and international food markets. Furthermore, the increasing demand for organic and locally-sourced food products has driven the development of new market segments and created opportunities for small-scale producers.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.