Equestrian Equipment Market Analysis

Equestrian Equipment Market Analysis

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Based on equipment type the market is segmented into rider equipment and equine equipment, each encompassing a range of essential gear tailored to the needs of both riders and horses. The rider equipment category includes helmets, riding boots, saddle pads, jackets, gloves, whips, safety vests, and other accessories like breeches and additional riding gear. On the other hand, equine equipment comprises saddles, bridles, halters, stirrups, horseshoes, and protection boots, alongside various accessories such as girths.
 

In 2023, the rider equipment segment emerged as the dominant force within the market, generating a revenue exceeding USD 7 billion. This supremacy can be attributed to several factors, including a heightened focus on rider safety, the continual pursuit of innovative and stylish riding apparel, and the increasing popularity of equestrian activities worldwide.
 

Based on gender the market is classified into male and female riders, and in 2023, the male segment asserted its dominance with a market share exceeding 50%. This significant prevalence can be attributed to several factors. Traditionally, equestrian sports were often associated with male riders, contributing to an established market presence. Moreover, the increasing participation of men in various equestrian disciplines, including racing, show jumping, and dressage, has heightened the demand for specialized and high-quality equestrian equipment tailored to male riders.   
 

Based on the consumer group the equestrian equipment market is segmented into individual and institutional categories, where the individual segment dominated in 2023, holding a substantial market share of approximately 55%. This segment is projected to maintain a noteworthy CAGR of 4.6%. This dominance is attributed to a rising number of enthusiasts engaging in horse riding as a recreational activity contributes to the sustained demand for individual equestrian equipment. Additionally, the growing popularity of equestrian sports at the amateur level and the increasing disposable income among individual riders further propel the dominance of this segment.
 

Based on the distribution channel the market is categorized into online channels and offline channels. In the year 2023, the offline channels segment emerged dominant, generating a substantial revenue exceeding USD 7 billion. The prevalence of traditional brick-and-mortar stores, specialty equestrian retailers, and tack shops contributed significantly to the offline segment's supremacy. In the equestrian world, the tactile experience and personalized advice provided by in-store professionals play a crucial role in purchasing decisions.
 

North America emerged as the dominant segment, holding a share of more than 40% of the total equestrian equipment market in 2023. The region's strong position can be attributed to a robust equestrian culture, a high level of participation in various horse-related activities, and a well-established infrastructure supporting the equestrian industry. The United States and Canada boast a large community of horse enthusiasts, ranging from recreational riders to competitive equestrians. The region's affluent population with disposable income is inclined towards investing in premium and specialized equestrian equipment, contributing significantly to market growth.