HS Code:
The 'Furskins and artificial fur; manufactures thereof' category, classified under HS Code 43, includes raw furskins, tanned or dressed furskins, articles of furskin, and artificial fur products. This category encompasses a range of goods such as fur clothing, accessories, and other manufactured items made from natural or synthetic fur. The global trade of furskins and artificial fur is influenced by fashion trends, ethical considerations regarding animal welfare, and the growing demand for sustainable and cruelty-free alternatives. This market also faces significant regulatory scrutiny due to environmental and ethical concerns.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 800 million
32% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 300 million
12% of total trade of total trade
Decreasing
USD 200 million
8% of total trade of total trade
Decreasing
USD 150 million
6% of total trade of total trade
Increasing
Average Rate
8.5%
Highest Rate
20% (imposed by certain countries on luxury fur goods)
Lowest Rate
0% (under free trade agreements or for artificial fur in specific markets)
Rising demand for artificial fur
Driven by ethical concerns and sustainability goals, artificial fur is increasingly replacing natural fur in fashion, leading to a decline in raw furskin trade.
2020-2022
Stricter regulations on fur farming
Countries like Denmark and several EU nations have imposed bans or restrictions on fur farming, reducing supply and shifting trade toward artificial alternatives.
2021-2023
Growth in luxury fur markets in Asia
Despite global declines, demand for luxury fur products remains strong in markets like China and South Korea, sustaining trade volumes in high-end segments.
2019-2022
The European Union is considering a comprehensive ban on fur farming and the import of certain furskins, following campaigns by animal welfare organizations.
June 2023
If implemented, this could significantly reduce the supply of natural furskins in Europe, pushing the market further toward artificial fur alternatives.
China has ramped up production of high-quality artificial fur, positioning itself as a leader in sustainable fur alternatives with competitive pricing.
March 2023
This development is expected to increase China's dominance in the global market, particularly in the artificial fur segment.
The Convention on International Trade in Endangered Species (CITES) updated its list of protected species, imposing stricter controls on the trade of certain furskins.
November 2022
This has led to reduced trade volumes for specific natural furskins and increased compliance costs for exporters.