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The global fur trade is the latest to feel the chill from the pandemic.

Worth more than 22 billion U.S. dollars a year, it's been left reeling from Denmark's decision to kill 17 million farmed mink.

COVID-19 outbreaks at hundreds of fur farms led to the discovery of a new strain of coronavirus in the mammals.

And industry officials expect fashion houses such as Louis Vuitton, Dior and Fendi to snap up fox and chinchilla to fill the gap.

In Denmark, a breeder-owned cooperative that sold 40% of global mink hides last year is considering selling its brand after announcing that it would shut down operations over the next 2-3 years.

Kopenhagen Fur CEO Jesper Lauge Christensen told Reuters he had received interest from Chinese customers to take over the brand.

"In Denmark you had the majority of the European fur production and that means that I don't believe in Denmark that you will start up again. Maybe in a very small scale, a couple of guys will try out to start breeding again in two or three years from now. But the whole infrastructure that is the main value of the Danish fur production will be gone - all the feed kitchens, all the researchers, all the advisors, our lab making sure that you have good animal health."

Worries of a sudden shortage of mink pelts, of which Denmark was the top exporter, have lifted prices by as much as 30% in Asia.

All eyes are now on Finland, where one million mink and 250,000 fox pelts will be up for grabs next week.

China, followed by Russia, is the biggest buyer of Danish fur as its own mink are considered of lower quality than those raised in Europe.

Animal activists hope the Danish debacle, which has had political repercussions in the country, will help put an end to the fur industry.

Fur farms or fur products are already banned in places including Austria, Britain, France and California.