Global Shark Meat Market 2019-2023| Growing Applications of Shark Parts to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Apr 22, 2019--The global shark meat market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190422005228/en/
The global shark meat market is expected to post a CAGR of close to 6% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the rise in sustainable fishing practices. The demand for aquaculture in the global shark meat market is rising, and more countries are investing in shark farms, which will drive the market during the forecast period. Aquaculture is the fastest-growing food production process globally. It has overshadowed all other food-sourcing methods, such as traditional agricultural practices and wild fish harvesting. By 2020, the total supply from aquaculture will likely account for over 60% of the global fish and seafood market, which will bode well for the global shark meat market.
As per Technavio, the growing applications of shark parts will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global shark meat market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global shark meat market: Growing applications of shark parts
The applications of shark parts in other industries are likely to grow considerably. Traditionally, shark fin is used to make shark fin soups, and meat is widely used for fish and chips across the globe. However, the applications of shark body parts in various industries has been fueling the demand for shark fishing, thus boosting the production of meat. For instance, shark liver oil, known as squalene, is used in cosmetics and health supplements such as omega-3 pills. Also, shark cartilages are ground to powder and used in anti-cancer medications. Thus, with varied applications such as these, the market for shark meat is expected to show a positive outlook during the forecast period.
“Apart from the growing application of shark parts, the high nutritional value, the increasing demand for shark fin soup, and the growth prospects in E-commerce are some other major aspects that are expected to contribute largely to the growth of the global shark meat market,” says a senior analyst at Technavio.
Global shark meat market: Segmentation analysis
This market research report segments the global shark meat market by product (shark fin and shark meat) and geographical regions (APAC, Europe, North America, South America, and MEA).
Geographically, the APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. However, during the forecast period, the MEA region is expected to register the highest incremental growth.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190422005228/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 04/22/2019 09:38 AM/DISC: 04/22/2019 09:38 AM