For decades, shark meat consumption has been component of the human diet from the east to the west and in both advanced and developing nations. The existence of shark fin trade and shark fisheries has been reported in existence since the 1980’s. However, only 15% of shark fish are recognized and reported at the species level, according to the Food and Agriculture Organization of the UN, whereas many sharks are merely not recorded in fisheries stats or recognized (Dulvy et al. 2008). It is considered a significant protein source for coastal populations and particularly those that are backed by small-scale artisanal fishing, in developing nations where communities are less financially stable than developed countries. The global shark meat market is thus witnessing increased demand.
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Multiple Uses of Product to Boost Shark Meat Market
Shark fin is traditionally used to produce shark fine soups, and meat is commonly used worldwide for fish and chips. However, in multiple sectors, the applications of shark-body components have boosted demand for shark fishing and thus meat production. For example in cosmetics and medicines like the omega-3 pills, shark liver oil, known as squalene is used. Cartilage of shark is also ground to powder and used in medicines against cancer. The market for shark meat should thus demonstrate a favorable perspective in coming years on account of its multitude uses.
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Land Aquaculture to Emerge as Leading Market Trend
Marine aquaculture is vulnerable to multiple dangers such as the escape of fish, jellyfish attacks, heavy storms and predators that may have an impact on total fish manufacturing. Land aquaculture eliminates those risks by minimizing the interaction between farmed fish and the outside environment. Such benefits will enhance sustainable fishing methods such as soil aquaculture, and is a key factor leading to the growth of the shark meat market across the globe.