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Equestrian Equipment Market

Equestrian Equipment Market Analysis By Product Type (Equine Equipment, Rider Equipment), By Buyer Type (Individual, Institutional and Others), By Sales Channel (Specialty Stores, Others), By Sports Type (Individual Sports and Others), and Region - Gloabl Markey Insights 2023-2033

Analysis of Equestrian Equipment Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Equestrian Equipment Market Outlook (2023-2033)

The equestrian equipment market reached a valuation of US$ 2,200 Million in FY 2023. Furthermore, across the 2023-2033 period of assessment, growth is expected to accelerate at a 4.1% CAGR, reaching US$ 3,300 Million.

The rising demand for equestrian equipment from emerging nations like China and India, which are seeing an increase in disposable income and expenditure on leisure activities such as horse riding, is driving the expansion of this market. In these nations, the rising popularity of horseback riding among women is also boosting demand for equestrian equipment.

The use of equestrian equipment in leisure activities and tournaments can greatly accelerate the growth rate of the equestrian equipment industry. Many equestrian equipment manufacturers have showed interest in incorporating smart technology. As a result, new products embracing technologies such as the Internet of Things (IoT) are expected to acquire commercial momentum.

Apart from that, the growing popularity of leisure sports has a considerable influence on equestrian equipment sales. Individuals' hectic lifestyles have led to a surge in participation in a variety of recreational activities, including equestrian sports. This is likely to stimulate market growth.

Furthermore, numerous regulatory bodies are supporting equestrian sports by hosting tournaments in various countries throughout the world to improve customer awareness. Because of these sports events and championships, equestrian equipment manufacturers will be able to sell their products to a wide client base under one roof, helping to market growth. Moreover, the growing frequency of horse fairs boosts demand for equestrian equipment.

Report Attributes

Details

Expected Market Value (2023)

US$ 2,200 Million

Projected Forecast Value (2033)

US$ 3,300 Million

Global Growth Rate (2023-2033)

4.1% CAGR

Expected Growth Rate of the UK Market (2023-2033)

4% CAGR

Anticipated Growth Rate of the Chinese Market (2023-2033)

3.5% CAGR

Prominent Equestrian Equipment Service Players

  • Ariat International
  • Dainese S.p.A
  • Cavallo GmbH
  • HKM Sports Equipment GmbH

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2018-2022 Revenue Analysis of Equestrian Equipment Market vs. Growth Outlook 2023-2033

According to Fact.MR, market research and competitive intelligence provider, the global market for equestrian equipment expanded at under 3% CAGR from 2018 to 2022. The growing popularity of horseback riding as a sport and leisure activity is driving the equestrian equipment industry.

Moreover, rising disposable income in emerging nations such as China and India would support the expansion of the equestrian equipment industry. Furthermore, the growing popularity of horseback riding in developed nations such as the United States, United Kingdom, Germany, France, Italy, and Japan will propel the equestrian equipment industry forward.

The growing number of horses in emerging nations such as India and China will fuel the expansion of the equestrian equipment industry. Based on the aforementioned trends, the global market Equestrian Equipment is poised to surge at a 4.1% CAGR, reaching US$ 3,300 Million by 2033.

Equestrian Equipment Market

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Key Market Drivers Influencing Equestrian Equipment Industry Expansion

Fashion Trends Influence Equestrian Equipment Design and Production to Foster Market Growth Prospects

Fashion, as much as performance in the actual activity, has been at the centre of the thriving equestrian equipment sector. For decades, labels like US Polo have dominated the horse riding fashion trends. The brand has become synonymous with the sport through its t-shirts, team jerseys, boots, and other merchandise.

According to Fact.MR, worldwide dynamics in equestrian equipment would be greatly influenced by fashion trends, which are generally described as refined and simple. The entry of new companies in the industry, such as Decathlon, which offers equipment at a much lower price, with uncompromised quality, and in line with the newest design trends, has enticed a larger number of consumers, resulting in tough rivalry.

Equestrian apparel is reacting to technical improvements by using textiles that are mud and water resistant and provide better grip. Better cuts for greater mobility and increased safety function of helmets, as well as maximum comfort, have aided market vendors in making their mark. Vendors are also catering to the ultra-luxurious side of this business in order to maintain the "elite" reputation and sustain the heritage of it being predominantly a royal sport. Dressage, for example, is projected to see the introduction of magnificent new designs with distinct style and national colors.

To that end, Charles Owen, a Royal Warrant holder and supplier to the Royal Mews at Buckingham Palace, sells anything from helmets with painstakingly inlaid crystals to detachable sun visors, showcasing the tradition of this equestrian activity. Thus, an appeal to customers at both ends of the spectrum as well as those in the centre is predicted to raise demand for equestrian equipment during the next 10 years.

Social Media has a significant impact on the Equestrian Equipment Market

The influence of social media on young people's decision to take up riding lessons cannot be overstated. As more and more young people take up riding, the craze of projecting an image has actually benefited the worldwide equestrian equipment industry.

The growth of social media and the expanding number of personalities encouraging the riding for leisure or sport has primarily pushed the sport's appeal. While desire to pursue horseback riding may be high on the vanity measure, researchers believe that it will lead to true involvement in the coming years.

This perceived shift is expected to have a significant impact in driving the sale of equestrian equipment between 2023 and 2033. Manufacturers of equestrian equipment, particularly clothes, will see a growing trend of choices determined by influencers and celebrities in the future years.

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Key Challenges encountered by Equestrian Equipment Industry

High Expenses associated with Equestrian Activities to Hamper the Market Growth

Significantly greater expenses are linked with horse-riding activity, as are risk factors that may occur while performing the activity, such as the possibility of physical injuries while performing the activity, which demotivates consumers to choose horse-riding as a sport or leisure activity, which may act as a limitation for the worldwide equestrian equipment market.

Country-wise Analysis

How will the U.K Perform in the Global Equestrian Equipment Industry Landscape?

Significant Presence of Clubs and Enthusiasts to Boost the Market Growth

Europe dominates the worldwide equestrian equipment industry because nations such as the United Kingdom have been pioneers of this activity for many years, breeding, teaching, and competing.

The market thrived in this region due to the significant presence of clubs and enthusiasts. With the Olympics a year away in 2021, the market is predicted to do particularly well as jockeys will have an additional year of preparation, resulting in increased demand for more equipment.

Historically, colonial influence has also provided countries such as India an advantage in the sport. The market, which is dominated by royals, is thriving in India, with an increasing number of young people wishing to participate for enjoyment and at competitive levels. The introduction of horseback riding as a sport in schools has also increased demand for equestrian equipment throughout the years.

How will the Growth of Equestrian Equipment Market Escalate across North America?

Increasing Investments in Ranches and Stables to Enhance the Market Prospects

North America also has a large number of clubs, which has expanded involvement in the sport over time. Investments in ranches and stables have also increased the market's breadth of sales for manufacturers.

The shift to suburban and rural life is also expected to increase membership in horse riding groups, hence increasing demand for equestrian equipment. Western countries will drive demand for equestrian equipment as it remains an activity that requires years of effort and sophisticated technology to transform a hobby into a sport.

Country-wise Forecast CAGRs for the Equestrian Equipment Market

Country CAGR

U.K

4%

India

3.5%

South Korea

3%

China

3.5%

U.S

3.9%

Category-wise Insights

Which is the Most Sought-after Product Type Category?

The Helmet Segment to Boost the Segment’s Growth

The helmet is designed for people who like equestrian riding. Because it offers greater protection than other sorts, its demand has increased greatly over the world, making significant contributions to market expansion, which is driving market expansion and boosting the worldwide equestrian equipment market.

Equestrian Equipment Market- Competitive Landscape

There is modest competition in the worldwide equestrian equipment market. With so many local players, determining the quality of a product in relation to its price and brand value, which is also provided by a lower cost product, is challenging.

However, as awareness about the use of unethically procured leather grows, players are anticipated to focus on producing luxury and non-luxury vegan items. Some of the prominent players in the market :

  • Ariat International
  • Dainese S.p.A
  • Cavallo GmbH
  • HKM Sports Equipment GmbH

Recent Developments :

  • In March 2022, Carlyle Group, a worldwide investment corporation, agreed to purchase the Dainese Group from Investcorp and Lino Dainese. Cristiano Silei will remain CEO of the firm. As is normal, the acquisition is subject to regulatory clearances.
  • In October 2021, Cavallo announced the launch of a Product Suite to Improve Distribution. Software that increases execution, control, and intelligence for an optimal distribution strategy will be introduced at the company's Product Premiere Week.

Key Segments Covered in the Equestrian Equipment Industry Survey

  • By Product Type :

    • Equine Equipment
      • Saddle pad
      • Stirrup
      • Saddle
      • Horseshoes and Protection Boots
      • Snaffle Bridle
      • Accessories
    • Rider Equipment
      • Riding Boots
      • Gloves
      • Helmets
      • Protective Vests
  • By Buyer Type :

    • Individual
    • Institutional
    • Others
  • By Sales Channel :

    • Specialty Stores
    • Others
  • By Sports Type :

    • Individual Sports
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

- Premium Report Details -

Equestrian Equipment Market
  • FACT1976MR
  • Dec-2022
  • Sports
  • 170 Pages
  • 48 Tables
  • 144 Figures

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As of 2023, Fact.MR expects the equestrian equipment industry to be valued at US$ 2,200 Million.

According to Fact.MR, a CAGR of 3% was recorded for the equestrian equipment market from 2018-2022.

From 2023 to 2033, the equestrian equipment industry is poised to flourish at a 4.1% CAGR.

By 2033, the equestrian equipment landscape is slated to reach a valuation of US$ 3,300 Million.

The Helmets segment is expected to grow the fastest during the forecast period.

As per Fact.MR’s projections, the market for equestrian equipment in the UK will likely expand at a 4% CAGR.

China is poised to yield a CAGR of 3.5% with respect to equestrian equipment in 2033.

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