Mink is a carnivorous mammal with a dark complexion, furry skin, and a native of America and Europe. The American mink belongs to the genus of Neovison, while the European mink belongs to the Mustela genus. Mink is commercially hunted for its fat which is being rendered further to extract mink oil which has found commercial applications in the leather industry. It can be used for treating, preserving and in the maintenance of almost every kind leather products. Mink oil is an under-appreciated resource due to its use in limited application segments and is majorly controlled by a handful of mink oil processing and supplying companies based in the U.S., Canada, and Europe. This is attributed to the regional availability of mink in the aforementioned regions.
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Owing to the Europe’s position as the center of the world’s cosmetic industry and cosmetics being one of the key application areas, the market in Europe is expected to see significant growth over the forecast period. Mink oil is an essential ingredient in many of the existing cosmetic products and in cosmetic therapies which are in the phase of evolution. Thus, mink oil market still holds future growth potential with applications in cosmetic industry. This growth is also supported by the utilization of mink oil in animal feed sector aided by the established rendering facilities in the U.S and Canada. However, in line with the prolonged utilization of low-grade mink oil and mink oil paste as durrant in the already mature leather industry, this factor limits the overall market growth. Moreover, the rising restrictions from the animal welfare association and rising pressure on global cosmetic industry to minimize the use of ingredients sourced from animals may restrict the future growth of the mink oil market.
A variety of mink oil products with multiple formulations have been introduced by the manufacturers and some of the global market players manufacturing mink oil include; Emulan Company, Quimipur S.L.U., C.A. Zoes Mfg Co., among others.