– Demand for manufacture of leather care products to provide vast growth avenues for firms in mink oil market; growing demand for premium grade mink oil to propel sizable sales
– East Asia, Europe, and Latin America expected to be potentially lucrative markets, where growth in revenues propelled by rise in adoption of skin care products
ALBANY, N.Y., Feb. 24, 2022 /PRNewswire/ — Mink oil products have gained enormous commercialization from the widespread use of these as skin moisturizer and a key part of protective element for various skin types. In recent years, the ingredients find massive use in shoe care products, thus propelling the revenue growth of the mink oil market. The global valuation of mink oil market is anticipated to reach US$ 31.70 Mn by 2031.
Mink farms have increasingly more responsive toward animal cruelty. Thus, their bottom line has witnessed a decline. However, still there exist proclivity toward sourcing animal fat without involving any cruelty. The use of mink oil has proliferated in recent years notably in leather durrant, animal feed, and cosmetics care applications.
Europe has been a hub of production of mink oil, with Denmark contributing massive avenues. The demand for genuine mink oil products is expanding the horizon for various suppliers of emollients and lubricants products. Healing properties of mink oil make this as highly popular in cosmetic and personal care industry, where the oil acts a natural moisturizer.
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Key Findings of Mink Oil Market Study
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Mink Oil Gathered Traction for Leather Care Products: Rise in consumption of leather products has spurred the sales of products in the mink oil market. An enormous pace of urbanization has fueled massive profitable avenues in the leather durrant segment during the forecast period. Substantial consumption has stemmed from increased awareness regarding the fatty acids derived from animals for making leather soft and flexible. Mink oil products have been popularized as leather moisturizer.
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Use in Cosmetics to Rise Substantially During Forecast Period: Rise in demand for mink oil for cosmetics has propelled vast revenue streams in recent years, note the TMR study on the mink oil market. Further, wide use in skincare product has underpinned revenue growth, find the TMR analysts in the mink oil market. Of note, animal products are being discouraged in some countries, thus making a dent on the revenue growth of the mink oil market. The cosmetics & personal care segment is projected to advance at CAGR of 4.4% during the forecast period.
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Producers of Emollients Leverage Mint Oil for Value Addition Across Multiple Industries: The cosmetics & personal care segment is projected to expand at CAGR of 4.4% during the forecast period. Apart from cosmetic application, the demand for animal feed additives has expanded the sales, find the TMR study on the mink oil market.
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Mink Oil Market: Key Drivers
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The demand for premium-care skincare products worldwide is a key driver of the mint oil market. Mink oil have shown to have long-lasting effects on skincare.
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Cosmetics product manufacturers are continuously expanding their product portfolio in production and marketing of fatty acids. This has fueled the prospects of the mink oil market. On the other hand, fur farming has attracted criticism over the past few years.
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Mink Oil Market: Lucrative Regions
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Latin America is a highly lucrative region in the mink oil market. The valuation of the regional market is projected to advance at CAGR of 4.7% during the forecast period.
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Opportunities in East Asia are growing substantially. The regional market is projected to expand substantially in the next few years.
Mink Oil Market: Key Players
Some of the prominent players are AILI Inc., Fitohim farm LLC, PFAU Oil, Spec Environment solution, Touch of Mink, and Mink Seal company
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Global Mink Oil Market Segmentation
Mink Oil Market, by Grade
Mink Oil Market, End-use
Mink Oil Market, by Region
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North America
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Latin America
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Europe
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South Asia
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East Asia
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Oceania
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Middle East & Africa
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Read More:Mink Oil Market to Reach US$ 31.70 Mn by 2031; Substantive Utilization in Cosmetics & Personal Care Products to Propel
2022-02-24 02:36:55
