Latest News- Shark Meat Market: Shark meat is expected to lead the Product segment during 2025-2029

The Shark Meat Market is being driven by High nutritional value

The Shark Meat Market is expected to grow at a CAGR of 2.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 147.9 million. The shark meat market is poised for significant expansion due to the increasing demand for shark body parts in various industries. While shark fin is renowned for its use in traditional dishes like shark fin soup, and shark meat is popularly used in fish and chips, emerging applications are driving the market growth. Notably, shark liver oil, or squalene, is in high demand for cosmetics and health supplements, particularly omega-3 pills. This, coupled with the growing usage of shark cartilage in pharmaceuticals and nutraceuticals, is expected to fuel the demand for shark fishing. Consequently, the production of shark meat will receive a considerable boost during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Shark meat
  • Shark fin
• End-user
  • Commercial
  • Residential
• Type
  • Frozen meat
  • Fresh meat
  • Canned meat
  • Dried meat
  • Smoked meat
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Spain
  • North America
    • Canada
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High nutritional value
• Increasing demand for shark fin soup
• Growth in sustainable fishing practices

However, the market also witnesses some limitations, which are as follows:

• Overexploitation and depletion of fish stocks
• Increasing campaigns against shark meat consumption
• Stringent regulations and bans

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Market Scope in Shark Meat Market Research Report

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Research Analysis Overview

The Shark Meat Market encompasses various aspects of capture fisheries, with a focus on implementing finning regulations, population monitoring, and habitat restoration to ensure the preservation of genetic diversity and marine biodiversity. Ecological interactions, food security issues, and fishery stock rebuilding are also prioritized. Aquaculture technology and sustainable fish farming practices are employed for disease prevention and feed formulation, while water quality management, wastewater treatment, and environmental monitoring are crucial for maintaining optimal conditions. Conservation biology, predator control, shark lifecycle studies, migration patterns, and behavioral ecology are integral to understanding and mitigating risks. Advanced risk assessment modeling, fishing gear technology, fishing vessel management, crew training programs, compliance monitoring, data collection methods, and data analysis techniques are employed to ensure a sustainable and responsible shark meat industry.

Market Research Overview

The shark meat market is subject to various business-related developments, including the reduction of shark finning, implementation of sustainable fishing practices, and the adoption of bycatch mitigation strategies. These initiatives are crucial for ensuring the long-term viability of the industry and adherence to fishery management regulations. Technavio's market analysis for the global shark meat industry calculates the market size based on the revenue generated by vendors engaged in the production and processing of shark meat. The market encompasses businesses involved in the value chain, excluding equipment manufacturers and producers of packaged beverages. The market's growth is influenced by factors such as consumer demand for sustainable seafood, regulatory compliance, and the health benefits associated with shark meat consumption.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/