Source: Rabbit meat demand poised for huge jump | Herald (Business)
Business Reporter
THE Zimbabwe Commercial Rabbit Breeders Association (ZICORBA) has implored local cuniculture producers to increase their production to take advantage of an anticipated spike in global consumption of rabbit meat.
ZICORBA president Regis Nyamakanga said the global meat market was expected to surge from 1,5 million tonnes to 1,8 million tonnes over the next three years.
Nyamakanga was reacting to a recent report by market research firm IndexBox which showed that market volume for rabbit meat globally is expected to expand by 2,3 percent compound annual growth rate to reach 1,8 million tonnes by the end of 2025.
“The anticipated growth in global demand for rabbit meat presents boundless opportunities for local rabbit producers to ramp up their production and take advantage of the expanding market for rabbit meat globally,” the ZICORBA chief said.
Research IndexBox, a leading global research entity, says in its latest report that China would retain its position as the biggest consumer of rabbit meat globally, followed by North Korea and Egypt.
“China was the main market for rabbit meat in the last couple of years, accounting for 62 percent (925,000 tonnes) of the world’s total consumption (1,5 million tonnes), followed by North Korea (154 000 tonnes) and Egypt (57 000 tonnes),” says the research firm.
Driven by increasing demand for rabbit meat worldwide, the market is expected to continue an upward consumption trend over the next six years, according to market research firm IndexBox.
Market performance is forecast to retain its current trend pattern, expanding with an anticipated compound annual growth rate of more than 2,3 percent until 2025, bringing the market volume to 1,8 million tonnes.
In terms of production, China leads the top (932 000 tonnes), accounting for 63 percent of the world’ rabbit meat production. North Korea ranks second (154 000 tonnes), while
Spain came third with a production of 57 000 tonnes and a 3,9 percent market share.
IndexBox analysis shows that the global rabbit meat production is likely to see steady growth in the near future.
Nyamakanga said that Zimbabwe was aiming to be among the top three rabbit producing nations in Africa over the next three years.