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Jul 05, 2023

Exciting News for Equestrian Community as Industry Nearing $3 Billion Globally

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The equestrian industry is not just about the horses, riders, trainers, owners, and the races. It goes beyond that and riding equipments are a major part of it. Riding equipment is vital because it provides safety to both the rider and the horse and makes riding enjoyable. There are many pieces of equipment, from saddles and bridles to helmets and gloves, which are an eminent part of equestrian sports, and hence they garner opulence as they are in high demand.

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These equipments are manufactured worldwide and traded globally. The size, potential, and scope of the market can be figured through the latest research report on it. The equestrian community was excited when the report mentioned that the global horse-riding equipment market is experiencing growth with the increase and acceptability of the sport and is expected to reach an unbelievable amount in 2032.

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As reported by Yahoo! Finance a research report released by Allied Market Research, says that the global market of equestrian riding equipment is predicted to reach a whopping $3 billion by the year 2032. The report mentioned that the estimated value of the global market in the year 2022 stands at $2.1 billion. So, the global horse equipment market is to grow at a 3.6% CAGR. The increase of interest in horse riding, setting up of equestrian training farms of all ages, fitness awareness among the community, and government initiatives have fueled the increase in growth of the industry at the global level.

Online retailers shall play a considerable part in the growth due to their increased popularity and the facilities they provide. They give faster delivery and consumer-friendly return policy. In addition to that, the retailers provide a free shipment facility, a wider range of products, and an online comparison facility which boosts their sales. Europe has shown 18–19% growth in e-commerce retail sales according to the report with the UK, Germany, and France as the lead. This data fueled expectations and is predicted to increase the market of online retail sales of horse riding equipment.

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The helmet is a vital and primary piece of equipment in equestrian riding. According to the report, its segment held a major share of the market in the year 2022 and had more than one-third share of the global horse riding equipment revenue. This trend is expected to continue in the future due to its primary protection of the head of the rider of any age. As per the report, the helmet segment is projected to reach $958.5 million by the year 2032.

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Amid Concerns for Equestrian Safety, Apex Body Approves a Historic Amendment

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Other pieces of equipment, like vests and stirrups, are also expected to grow as they help in maintaining balance and appropriate posture when riding. The expected growth rate of the equestrian riding equipment market is good news for the industry and the community and is a sign of the growth of the sport at the global level.

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Saiful Khan

207 articles

Edited By: Purva Jain

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