Worldwide sales of fur increased by 5.4% in 2010 to reach $14bn (£8.7bn), up from $13.3bn (£8.24bn) in 2009, according to figures released by the International Fur Trade Federation (IFTF).
According to the IFTF, the figures reflect the increasing appetite for fur garments amongst fashion conscious consumers, particularly in the Far East.
In the West, despite the economic downturn, the demand for fur remained stable on account of the continuing cold weather and trends for fur.
“Fur is the big fashion story of the autumn 11-12 collections,” said Andy Lenhart, International Fur Trade Federation chairman.
“Wholesale prices at the 2010-2011 winter auctions reached all-time highs so we expect an even bigger increase in global sales turnover for the current financial year”.