Shark Meat Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Shark Meat Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : July, 2020 | Food and Beverages | PPT format

Report Digest


Global Shark Meat Market: An Overview

The global shark meat is expected to register a robust growth in the near future, thanks to rising fresh supply of sea food and changing food preferences in non-coastal regions of the globe. Shark is a seafood delicacy in many coastal regions of the world. Earlier, the food was considered a taboo in many non-coastal parts of the world. However, increasing convergence of cultures and growing demand for exquisite cuisines from other parts of the world have changed this perception. Today, regions like Europe which held the earlier perception witness one of the highest demand for shark meat. 

Shark meat in its salted, smoked, and dried variety are extremely popular in the region. Additionally, shark meat is consumed regularly in parts of Canada, Scandivania, Japan, India, Mexico, and several countries in Africa. Moreover, several varieties of shark like requiem shark, shortfin mako shark, porbeagles, and thresher shark are available in all parts of the world, due to fresh food supply logistics, and advances in preservation techniques. The growing advances and continuous demand are expected to result in increased gains for players in the global shark meat market in the near future. 

Global Shark Meat Market: Notable Developments 

  • Seals, the favourite shark diet is making a comeback in the US ocean waters. According to recent estimates by the National Oceanic and Atmospheric Adminstration, 75,000 harbor seals and 27,000 gray seals reside in US waters during breeding seasons. In 1700, the seal population had dropped below 500 in total, due to bounties and lucrative demand for sea pelts. The rise in number of seals, and growing conservation regulations like the one in Florida senate currently. It proposes to ban trade of shark fins which can be both a major opportunity and challenge in the shark meat market in the near future. Shark fin trade is already banned in over 12 states in the United States. Additionally, shark fins are not conventionally considered a delicacy in many European and North American regions. Hence, such legislations can promise heavy rise in numbers of sharks in line with the seals. 

Global Shark Meat Market: Key Trends 

Earlier shark meat was considered a taboo as it displayed a strong odor of ammonia. The meat contained high contents of urea and decomposition of seafood was rampant without adequate cold storage facilities. Today, various techniques involving the use of saltwater, vinegar, lemon juice, and milk can reduce the urea content in a cost-effective manner. Additionally, popular new recipes like shark fillets and steaks are making their way into mainstream to create more growth for the shark meat market. Shark meat market is expected to witness major growth in Asia region, wherein high demand and shark fishing is rampant. The dwindling population of sharks, and negative health impacts associated with shark meats such as increased metallic intake can limit the expansion of the shark meat market. 

Conventionally, Asia Pacific region has registered higher number of shark catches, thanks to its widespread practice in countries like Japan. Japan is home to several shark-based cuisines widely popular around the world including fish balls, surimi, fish sausage, and other products. Schillerlocken or smoked belly flaps are extremely popular in Germany. The shark meat market has witnessed a major turnaround as Europe region, wherein shark meat was once a taboo is a major avenue for growth in the world today.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.