According to a new report published by Allied Market Research, titled, “Horse Riding Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Gender, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032.” The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The horse riding equipment market size was valued at $2.1 billion in 2022, and is estimated to reach $3 billion by 2032, growing at a CAGR of 3.6% from 2023 to 2032.
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The training and practice for Olympics games are the major factors that augment the market. Increasing number of both men and women taking part in this activity requires extra safety regulations related to the equipment, which leads to increase in demand for horse riding equipment. Moreover, rising number of horse riding institutes such as riding yards, welfare charities & services, and riding schools, is the major reason for the growth of the horse riding equipment market demand.
Despite facing challenges such as global uncertainty and economic instability, the horse riding equipment market has maintained steady growth. According to insights from top executives (CXOs), significant growth is anticipated in the helmets segment, driven by increasing awareness of health and sports. Helmets are essential for protecting the human brain, working alongside the skull to reduce the risk of head injuries during collisions by absorbing impact energy. With a durable outer shell guarding against sharp objects and an expanded polystyrene lining underneath for impact absorption and dispersion, equestrian helmets have become an integral part of riding equipment due to their numerous benefits.
The global horse riding equipment market is experiencing growth due to factors such as an increase in sports and fitness awareness across the world, and government initiatives toward sports activities and events. On the other hand, the prevalence of low-priced counterfeit products may limit the growth of the market to some extent. Moreover, the trend of online retailing is expected to provide ample growth opportunities throughout the forecast period.
As per the horse riding equipment market analysis, the market is segmented on the basis of type, gender, sales channel, and region. On the basis of type, the market is categorized into helmets, vests, stirrup, and others. By gender, it is segregated into male and female. By sales channel, market is segmented into hypermarket/ supermarket, independent sports outlet, sports retail chain and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Nigeria, Saudi Arabia, South Africa, and Rest of LAMEA).
The basis of type, the helmets segment is projected to reach $958.5 million by 2032, registering a CAGR of 3.2% from 2023 to 2032. Helmet held a major share in the horse riding equipment market. This helmet is designed for people who prefer to ride horse. As it provides more protection than other varieties, its demand has propelled significantly across the globe, which notably contributes toward the market growth.
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By sales channel, the sports retail chain segment held the major share in 2022, contributing to more than one third of the global horse riding equipment market revenue, and is expected to maintain its lead position throughout the forecast period. Manufactures are continuously making efforts to increase shelf visibility of their products, and hence, they are majorly targeting sports retail chains. Furthermore, the hypermarket and supermarket segment would portray the fastest CAGR of 3.9% from 2023 to 2032.
By gender, the male segment held the major share in 2022, garnering around three-fifths of the global horse riding equipment market revenue, and is projected to rule the roost by 2032. The male segment is witnessing notable growth, due to an increase in horse riding sports and a rise in awareness about sports among the consumers. However, the female segment would portray the fastest CAGR of 4.1% from 2023 to 2032. Women are more active in horse riding activity, as they find it interesting and beneficial to their physical and mental health.
Region wise, Europe is expected to reach $1,005.2 million by 2032, registering a CAGR of 3.1% from 2023 to 2032. Growing start-ups that deal in production and selling of the horse riding equipment are majorly favoring the growth of the horse riding equipment market during the forecast period. The region has predicted maximum demand of horse riding equipment during the forecast period.
The key players profiled in this report include Antarès Sellier, Ariat International, Inc, Cavallo GmbH & Co. KG, Colonial Saddlery, Dainese, Decathlon S.A, Fabtron Inc, Georg Kieffer Sattlerwarenfabrik GmbH, HKM Sports Equipment GmbH, and Mountain Horse.
𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:
○ The global horse riding equipment market was valued at 2,097.3 million in 2022, and is projected to reach $2,969.5 million by 2030, registering a CAGR of 3.6% from 2023 to 2032.
○ In 2022, depending on type, the helmets segment was valued at $701.7 million, accounting for 33.5% of the global horse riding equipment market share.
○ In 2022, depending on sales channel, the sports retail chain segment was valued at $736.2 million, accounting for 35.1% of the global horse riding equipment market share.
○ In 2022, the UK was the most prominent market in Europe, and is projected to reach $240.6 million by 2032, growing at a CAGR of 2.5% during the forecast period.
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