Horse Riding Equipment Market Expected to Reach $3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Horse Riding Equipment 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.

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.

Rise in horse riders is recorded by many horse ridings clubs in the UK and British Equestrian Trade Association (BETA) has revealed surge in users in past 5 years with more members added to clubs and increase leisure riders. Investment by people in leisure sports activities, new riding clubs and yards being introduced, schools and colleges including it in their sports curricular, and increased disposable income drives the growth of the global horse riding equipment market. In addition, surge in both men and women in horse riding has led to extra safety by the association and rise in spine and ribs injury during horse riding has increased awareness in riders for use of protective horse riding apparels.

Manufacturers have been focusing on producing new products that can fulfill the leisure requirement of recreational riders and prevent the damage due to accidents caused during the sport. Many clubs have mandated the use of protective equipment during horse riding and the horse riding schools have also started using the riding apparels and equipment’s right from the training period. This has made an overall surge in horse riding apparels other than the professional riders. Due to the COVID-19 pandemic, supply chain has been adversely affected and whole consumer goods industry is still incurring losses. Governments are frequently practicing total lockdown to limit the spread of corona virus, in which various sports were strictly suggested to close.

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).

As per the horse riding equipment market trends, on 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.

Based on the gender, the male segment held the major share in the market. The male segment is witnessing notable growth, due to increase in horse riding sports and rise in awareness about sports among the consumer. Based on sales channel, the sports retail chain segment held the major share of 35.1% in the horse riding equipment market. Manufactures are continuously making efforts to increase shelf visibility of their products, and hence, they are majorly targeting sports retail chain. As a result, wider varieties of helmets and other horse riding equipment are available in sports retail chain. Moreover, sports retail chain provide options such as discounts as well as the benefit of immediate gratification, which contribute toward the growth of the horse riding equipment market.

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 availability of major players in this region influences the market such as Decathlon S.A., Georg Kieffer Sattlerwarenfabrik GmbH, and Mountain Horse. These players are promoting horse riding activity in the region, which is further expected to fuel the horse riding equipment market growth over the forecast period.

The players operating in the horse riding equipment industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. 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.