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.
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Key Takeaways from the Market Study
- As of 2023, Fact.MR expects the equestrian equipment industry to be valued at US$ 2200 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$ 3300 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
“According to the Equine Business Association, more than 16 million people globally are projected to engage in the sport. This feature is projected to open up new growth opportunities for equestrian equipment producers, influencing the market in the future years.” comments an analyst at Fact.MR.
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
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Equestrian Equipment make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Equestrian Equipment Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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