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 : November, 2021 | Food and Beverages

Report Digest


Global Shark Meat Market: Snapshot

The changing mindset for shark meat which was once considered a taboo due to its strong ammonia odor is fuelling the shark meat market. Shark meat contained high urea content and common occurrence of decomposition of seafood without proper storage facilities led to aversion for these foods.

The changing practices of storage of shark meat that involves the use of saltwater, lemon juice, vinegar, and milk to reduce the urea content in a cost-effective manner is creating opportunities in the shark meat market.

The role of culinary experts to create new recipes using shark meat such as shark fillets and steaks is stimulating the shark meat market. Shark meat in salted, dried, and smoked forms are increasingly becoming popular in gastronomic restaurants.

Asia Pacific registers the leading number of shark catchers thanks to the widespread practice in Japan. The origin of several shark-based cuisines in Japan such as fish balls and fish sausage is also a key factor for prominence of the region in the shark meat market.

Shark meat is consumed regularly in parts of Scandinavia, Canada, Japan, Mexico, and some parts of Africa. Shark meat is mostly consumed in coastal regions and is now increasingly finding demand in non-coastal regions of the world. In addition, several varieties of shark such as shortfin mako shark, requiem shark, thresher shark, and porbeagles shark are now available in all parts of the world. This is mainly due to improved logistics for fresh food supply and advances in preservation techniques.

The comeback of seals in the US ocean waters is promising for the growth of shark market. According to statistics of the National Oceanic and Atmospheric Administration, in the US waters, 75,000 harbor seals and 27,000 gray seals are discovered during breeding season. The role of conservation regulations for the rise in the number of seals such as the current one of the Florida senate is likely to bode well for the shark meat market.

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.

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