The equestrian accessories market - Italy

Despite the challenges posed by the COVID-19 pandemic, which led to a 21% contraction in the turnover of travel goods, leather goods, and saddlery sector in 2020, the broader sports sector is recognized as Italy's 6th largest industry. It employs around 100 thousand people across 35 thousand active businesses, generating over 14 billion euros in production. Additionally, the government's allocation of more than 2 billion euros for sports sector investment, coupled with the use of PNRR funds, is anticipated to foster growth.

The market for riding accessories alone in Italy is estimated at 130.70 million euros in 2021, with saddles accounting for the largest market share at 44.46%. The increase in disposable income and the rising popularity of horseback riding, especially among women, are key drivers for this growth. Despite a 12% decline in number of registered athletes between 2021 and 2022, the number of horses increased by 22% from 2017 to 2022. The Italian equestrian accessories industry maintains a surplus trade balance, with exports consistently exceeding the value of imports, and Germany emerging as a major consumer of Italian-made equestrian items.

Italian Equestrian Market: An Overview of Current Trends and Economic Impact

The equestrian market in Italy stands as a significant economic resource, contributing between 2.3 to 3 billion euros to the country's GDP. This sector not only holds a prominent place within the Italian economy but also exhibits various trends that denote both its current state and potential for future growth. One of the most salient features of the Italian equestrian market is the substantial impact of equestrian sports on the economic system. These sports not only resonate within the market through direct participation but also through the related industries such as equipment manufacturing and event hosting. Indicative of the market's size, sports disciplines collectively are considered the sixth largest industry in Italy, employing around 100,000 people across 35,000 active businesses. These businesses cumulatively generate an output worth more than 14 billion euros.

The market is also characterized by a noteworthy investment from the government, with over 2 billion euros allocated for investment in the sports sector. This financial stimulus, paired with the potential exploitation of the PNRR (National Recovery and Resilience Plan), underscores a landscape ripe for development. The accessory segment of the market, including travel goods, leather goods, and saddlery, experienced consistent growth. However, it saw a decline of around 20 percent in 2020, a downturn attributed to the adverse effects of the COVID-19 pandemic. Despite this setback, the preliminary analysis suggests an estimated annual market value of accessories at about 130.7 million euros. Within this segment, saddles represent the prime share, followed by bridles, stirrups, and bites, holding 33.75 percent, 18.56 percent, and 3.23 percent, respectively.

The equestrian equipment market is expected to burgeon on the global stage with a projected market value of more than 2 billion dollars in 2023, growing at a CAGR of 4.1 percent to potentially reach 3.3 billion dollars by 2033. Growth drivers include an increase in disposable incomes, heightened interest in recreational activities such as riding, and a surge in participation among women. Italy's trade balance also reflects a robust equestrian market with a surplus in saddlery and harness items. During the period from 2018 to 2022, exports consistently surpassed imports, maintaining a trade flow that remained relatively unaffected by the pandemic.

Key Players Shaping Italy's Equestrian Accessories Market

Italy's equestrian accessories market is flourishing, thanks to the contributions of a diversified array of companies specializing in various segments of the industry. This market is not only driven by tradition and a passion for equestrian sports but also by innovation and craftsmanship, which are hallmarks of the following major players:

• Prestige Italia S.p.A. - Renowned for its excellence in saddle making, Prestige Italia stands out as a leader in crafting high-quality equestrian equipment. Their saddles are highly sought after for comfort, design, and their ability to enhance the performance of both horse and rider.
• Selleria Equipe S.r.l. - Equipe brings an approach that balances technology with artisanal tradition, offering a range of premium tack and accessories. They are recognized for their bespoke services, providing tailor-made solutions to meet the exacting requirements of equestrian athletes.
• Amahorse S.r.l. - As a wholesaler, Amahorse is integral in the distribution of equestrian articles across Italy. They offer a wide selection, ensuring that riders at all levels have access to the gear they need.
• Tattini S.r.l. - Tattini has made its mark by manufacturing and selling a comprehensive suite of riding articles. They provide everything from footwear to riding apparel, catering to both competitive riders and equestrian enthusiasts.
• Equiline S.r.l. - Equiline’s dedication to quality is evident in its comprehensive range of equestrian accessories. With attention to both style and functionality, the company supplies products that cater to the dynamic needs of the modern equestrian sports community.
• Equick - Malaica S.r.l. - At the forefront of protection and performance, Equick is known for innovative designs in equestrian protective wear. Their shin splints and other products are synonymous with safety and are praised for their advanced features.
• Agromil Cereals S.r.l. - While some companies focus on riding accessories, Agromil plays a vital role in horse care, supplying high-quality stable bedding. Their products ensure the comfort and well-being of horses, an essential aspect of equestrian sports.
• Tuscan Cavalry S.p.A. - Specializing in saddlery and boots, this company combines artisanal skills with modern design. They produce a range of products that uphold the tradition of Tuscan craftsmanship while meeting the demands of contemporary riders. 

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 20/06/2023

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