U.S.: Rabbit Meat Market 2023

Rabbit Meat Market Size in the U.S.

The U.S. rabbit meat market shrank sharply to $X in 2021, declining by -18.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed buoyant growth. Over the period under review, the market hit record highs at $X in 2020, and then shrank significantly in the following year.

Rabbit Meat Exports

Exports from the U.S.

In 2021, exports of rabbit or hare meat from the United States expanded notably to X tons, with an increase of 7.7% on the previous year's figure. Over the period under review, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by 46% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, rabbit meat exports fell sharply to $X in 2021. In general, exports, however, faced a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of 52% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), Japan (X tons) and Mexico (X tons) were the main destinations of rabbit meat exports from the United States, with a combined 88% share of total exports.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +289.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for rabbit meat exported from the United States were Japan ($X), Hong Kong SAR ($X) and Mexico ($X), with a combined 76% share of total exports.

Hong Kong SAR, with a CAGR of +79.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average rabbit meat export price stood at $X per ton in 2021, shrinking by -37.3% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 51%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Rabbit Meat Imports

Imports into the U.S.

In 2021, rabbit meat imports into the United States reduced dramatically to X tons, dropping by -18.5% against 2020. Overall, total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 64%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, rabbit meat imports fell rapidly to $X in 2021. In general, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 68% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest rabbit meat supplier to the United States, accounting for a 54% share of total imports. Moreover, rabbit meat imports from China exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. France (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+28.5% per year) and France (+10.1% per year).

In value terms, China ($X) constituted the largest supplier of rabbit meat to the United States, comprising 59% of total imports. The second position in the ranking was taken by Spain ($X), with a 17% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+64.5% per year) and France (+9.8% per year).

Import Prices by Country

The average rabbit meat import price stood at $X per ton in 2021, standing approx. at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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