Mink is carnivorous mammal with a darker complexion, furry skin, and the native of the 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 found commercial applications in leather industry. In 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 hand full 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.
Obtain Report Details @
Mink oil Market Segmentation
Mink oil market is segmented on the basis of grade, application, packaging type, distribution channel, and region. On the basis of grade, the mink oil market is segmented as low grade and value-added. The low-grade mink oil segment accounts for a high share of the market. Whereas, the value-added mink oil segment has its own established consolidated market. Any new market player who wants to penetrate this segment of the mink oil market is expected to capture the share from existing players in this segment by offering value-added mink oil with better quality at a competitive price in the market.
On the basis of application mink oil market is segmented as; Animal Feeds, Leather Durrant, Cosmetics & skin care, others (bio-fuel). Animal feeds and leather durrant application accounts for a higher market share attributing to the use of low-grade mink oil in these applications.
On the basis of packaging type, the mink oil market is segmented into Can, P.E.T, and glass. The Can packaging is frequently used in the mink oil market as it offers ease of use to the end users. Owing to this market share for Can packaging is high in the mink oil market.
Request to view Sample Report:
On the basis of the distribution channel, the mink oil market is segmented into direct sales and indirect sales. The indirect sales segment can be further sub-segmented into modern trade, retail stores, and online retailers. The market of modern trade retailers dominates the mink oil sale globally followed by online retailers. The share of online retailers is likely to expand in the near future due to increase in the global demand for mink oil in leather and cosmetic products.
On the basis of the region, the Mink oil market is segmented into Asia Pacific, North America, Latin America, Europe, Middle East and Africa and Japan. The production and processing of Mink oil are based in North American and European region and is attributed to the regional availability of mink in the region.
Mink oil market Global Market Trends and Market Drivers:
Owing to the Europe’s position as the center of the world’s cosmetic industry and cosmetics being one of the biggest mink oil market in Europe which solely drives the global demand for mink oil as an essential ingredient in many of the existing cosmetic products and in those cosmetic therapies which are in the phase of evolution. Thus, mink oil market still holds future growth potentials with applications in cosmetic industry. This growth is also supported by the utilization of mink oil in animal feeds 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 matured leather industry limits the overall market growth to stagnant levels. 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.
Mink oil Market Key Players:
Variety of Mink oil products with multiple formulations have been introduced by the manufacturers and some of the global market players manufacturing the Mink oil in the market include; Emulan Company, S.C. Johnson & Son, INC (Kiwi brand INC), Spec Environmental Solutions INC, Quimipur S.L.U., C.A. Zoes Mfg Co., are among others.