Media Impact on Enthusiasts to Fuel Equestrian Equipment Demand – New Study by Fact.MR
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Equestrian Equipment market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Equestrian Equipment
The report offers actionable and valuable market insights of Equestrian Equipment. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Equestrian Equipment Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Equestrian Equipment, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Equestrian Equipment Market.
The US$ 1.9 billion equestrian equipment market in 2018 is expected to ride on an optimistic growth trajectory in the coming decade, as per the new Fact.MR valuation. The study foresees 1.4x growth of the equestrian equipment market during the period of 2018 – 2028. While the market remains highly fragmented, delivery of high functionality and fashion in equestrian equipment remains the prime focus of prominent market players.
Taking the advantage of an unorganized market, tier 2 players with the easy accessibility of raw materials are introducing new products and economic alternatives. With over 85% of the total market share in 2018, tier 3 players continue to strengthen their presence in the domestic equestrian equipment market.
The equestrian equipment market report provides detailed analysis on various segments providing a holistic view of the market.
The equestrian equipment market is segmented on the basis of product type, sales channel, buyer type and region.
The equestrian equipment product type category includes assessment on equine equipment (saddle pad, stirrup, saddle, horseshoes and protection boots, snaffle bridle and accessories) and rider equipment (riding boots, gloves, helmets and protective vests).
The buyers of equestrian equipment are classified as individual, institutional and promotional.
Sales channel category is further divided into specialty stores, modern trade channels, direct-to-customer channels and third party online channels.
Region wise, analysis on equestrian equipment demand across North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA) is provided.
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Fact.MR research shows that the promotional buyer type segment is expected to witness rapid expansion at a 4.3% CAGR through 2028. Rising prestige and visibility of international horse competitions such as Olympics and World Equestrian Games can be attributed to the increasing demand for equestrian equipment by promotional buyers. Institutional buyers are expected to maintain their preeminence with almost 60% market share owing to a significant rise in the number of private horse clubs.
Direct-to-consumer channel is estimated to capture nearly 44% of the global market share through 2028. This growth can be attributed to equestrian equipment manufacturers’ preference for contractual business with international competition organizers. Increasing inclination for online purchase explains the fastest growing third-party online channel at a CAGR of 4.7% during the forecast period.
With the significant impact on the U.S. economy, the equine industry in the United States thrives with the presence of 7.2 million horses of which over 70% engaged in recreation, showing, racing and working activities. Fact.MR research shows that North America will continue to hold the largest market share with the U.S capturing over 90% of the regional growth. Europe is estimated to occupy the second largest position backed by a significant impact of social media, growing emphasis on equestrian recreational activities and a deep-rooted sports culture. Emerging interest in equestrian sports in Asia Pacific is identified as the prime factor for APAC’s 1.5x growth projection during the forecast period. Greater China is expected to capture nearly half of the APAC market share with the significant growth of China’s equestrian industry.
Demand for equine equipment is expected to outsell that of rider equipment owing to rising number of equestrian clubs and riding schools. Among equine equipment, saddles are estimated to capture over 30% of sales as they remain the most common and highly utilized equine equipment.
Prominent players in the equestrian equipment market are adopting strategic partnership and collaboration strategies to win over intense competition arising due to established brand image and limited product portfolio of traditional market players. Rising popularity of horse racing across the world countries has led manufacturers to engage in strategic expansion to increase their footprints in the global equestrian equipment market.
For instance, Ariat International Inc. has initiated a strategic acquisition of European distributors and has sponsored their brand in the international equestrian sports in the past half a decade. Dainese S.p.A. has opened new sales offices in emerging economies such as India to expand its limited geographic footprint. Cavallo GmbH & Co. KG has initiated collaboration with the international equestrian sports association across the globe to establish the brand image in the international equestrian equipment market.
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More Valuable Insights on Equestrian Equipment Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Equestrian Equipment, Sales and Demand of Equestrian Equipment, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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