London, 16th of June 2016
– Data unveiled today shows that 2015 was yet another successful year for the global fur sector – thanks to the continuing demand from fashion and interiors brands for mink, fox, chinchilla and sable among other fur types.
In 2015, 71.27 million mink pelts were produced globally with a total value of $3.57bn*. There were also 8.93 million fox pelts with a value of more than $1.17bn*.
This information from the International Fur Federation (IFF) shows the global reach of the fur trade, an industry which provides employment to over one million people worldwide and is a vital part of the economy of many countries.
It also highlights how many different nations are involved in producing the various types of fur in use worldwide. Brazil alone contributes a sixth of global chinchilla farming, while most of the rest comes from European countries including Denmark, Hungary and Romania. Finland and China together accounted for close to 95 % of the nearly nine million fox furs produced globally in 2015.
Chinese mink production fell to 18 million in 2015, primarily due to the mixed economic outlook in the Chinese market, particularly for luxury goods.
There was also significant wild-fur production in North America, with more than 4 million pelts produced in 2015. These furs were produced by licensed and government-regulated trappers from abundant populations of more than twenty different furbearer species across the US and Canada, including beaver, muskrat, raccoon, marten, coyote and red fox. The regulated production of North American wild fur is an excellent example of the responsible and sustainable use of wildlife, as promoted by international conservation authorities. Smaller quantities of wild fur are also produced in Russia and other countries.
“In line with most luxury sectors, 2015 was a mixed story. The slowdown in China certainly impacted sales in that market, which in turn led to a reduction in production there.”
“Nonetheless, China remains a strong market with a lot of growth still taking place in the third tier cities. Korea is also holding very strong. The sanctions and failing oil price in Russia also impacted global sales, but there are signs of a slow turnaround in this important region.”
“As a result of the fluctuations in these two big markets, mink production shows a small decline on 2015. But other furs continue to do very well and on the whole 2016 is proving to be another very successful year for the industry, with fur shown in as many as 70% of designer collections. And excitingly, there are newer markets – even in India and Iran — with massive potential where we will be working hard to drive further interest.”