Products in the global shark meat market are used for various purposes, most notably for consumption, owing to their various health benefits. Several other body parts of sharks are also used for various indications. Tis is anticipated to increase the demand for products in the global shark meat market and aid the expansion of shark fishing industry. Liver oil from sharks is used in various cosmetics as well as pharmaceutical products such as omega 3 oil pills. Shark skins are used to make leather and cartilages are used in manufacturing of certain cancer medications. These rising applications of shark parts is expected to foster growth in shark fishing as well as the global shark meat market.
The research report presents a holistic evaluation of the current trends that may influence the growth of global shark meat market over the forecast period of 2021 to 2031. It maps the trajectory of global shark meat market through historic years and base years to project the future performance of the industry till 2031. The business intelligence report takes a closer look at various segments in global shark meat market and evaluates these segments based on their status, size, share, revenue, and forecast to 2031. It also informs the readers about key drivers as well as the restraints faced by stakeholders and participants in the global shark meat market.
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Global Shark Meat Market: Major Trends and Drivers
Rising awareness regarding the benefits offered by consuming seafood as well as high nutritional value provided by shark meat are some of the major drivers for the global shark meat market. Furthermore, the growth in the global shark meat market can also be attributed to rising demand for shark fin soup as well as the rise in sustainable fishing practices. However, depletion of fish stocks and overexploitation may hinder the growth in the global shark meat market in coming years. On the other hand, rising popularity of aquaculture over traditional marine agricultural practices as well as wild fish harvesting is also supplementing the growth in the global shark meat market.
Players in the global shark meat market are adopting land based aquaculture for producing shark meat even though it is considered more expensive than marine aquaculture. This can be attributed to various advantages offered by land based aquaculture in the global shark meat market, such as elimination of various hazards that usually occur in marine aquaculture, such as fish escapes, violent storms, and attacks by jellyfish and other predators. This has led to increased adoption of sustainable aquaculture practices i.e. land based aquaculture, which in turn is expected to fuel the demand in the global shark meat market.
Global Shark Meat Market: Key Players and Manufacturers
Some of the leading and major players and manufacturers functional within the global shark meat market include All Easy Go Frozen Seafood Co. Ltd., Citarella, Fujian Haoyuan Food Co. Ltd., Macs Seafood Ltd., Premier Seafood Ltd., Aquafin Trade Inc., East Coast Seafood LLC, Gaudets Seafood, Marder Trawling Inc., and Wenzhou Haideli Shark Products Co. Ltd., among others. Players and manufacturers in the global shark meat market are adopting various organic as well as inorganic growth strategies to attract a larger consumer base and expand their industry share.
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Global Shark Meat Market: Regional Assessment
Asia Pacific region is expected to showcase brilliant growth opportunities for the players in the global shark meat market in coming years. This trend can be attributed to increasing awareness regarding the benefits offered by the consumption of seafood, rising disposable income, and rising population in the region. China in Asia Pacific is considered one of the chief markets for the products in the global shark meat market. Another region expected to showcase excellent growth rate in the global shark meat market is South America.
