The equestrian accessories market - United States

Since 2020, the global equestrian equipment market has experienced significant growth trends. In 2023, the market value reached $2,200 million and is projected to grow at a CAGR of 4.1%, aiming for a market size of $3,300 million by 2033. This growth is driven by advancements in equine technologies for assessing horse health and the influence of smart equestrian equipment. The Equine Business Association reported that worldwide participation in the sport is projected to include more than 16 million people, indicating potential market expansion for equipment manufacturers. In the U.S., the equine industry contributes $122 billion annually to the economy, with states like Kentucky, Oklahoma, and Florida showing the highest industry share of state GDP. Saddlery exports skyrocketed by 48.5% from $1.93 billion in 2020 to $2.87 billion in 2021, accounting for 0.014% of total world trade, with China, India, and Germany leading exports while the U.S., Germany, and the UK lead imports. Horse ownership demographics in the U.S. indicate that the average owner is female, 38-45 years old, married, and spends an average of 22 hours per week with their horses. Horse enthusiasts predominantly engage in recreational riding. Moreover, despite the pandemic, there was a rise in online tack shops, as well as a notable presence of international companies in the U.S. market, highlighting the dynamic and expanding nature of the equestrian equipment industry globally and particularly in the United States..Title: "U.S. Equestrian Equipment Market: Trends, Expansion, and Financial Insights" In the vibrant and expanding market of equestrian equipment within the United States, recent trends indicate significant growth and diversification. From enthusiasts to professional competitors, the demand for specialized equestrian gear has generated a sizeable economy with a noteworthy contribution to the U.S. GDP. The specialized sector of saddlery and harness items, for instance, has created a substantial trade worth approximately $2.87 billion, showing a surge in exports by nearly 50 percent between 2020 and 2021. Focusing on the U.S., the horse industry at large boasts an impressive yearly contribution of approximately $122 billion to the national economy. Kentucky, Oklahoma, and Florida emerge as the states with the greatest share of equine-related GDP, underpinning the significance of this industry within these regions. In Kentucky alone, the horse industry accounts for about 1 percent of the state's GDP. The American Horse Council Foundation has illuminated the socio-economic backdrop of horse enthusiasts, revealing that the average horse owner falls between the ages of 38 and 45, is typically female, and married. This demographic is willing to spend an average annual amount of $6,000 on horse care, which is not a static figure, with fluctuations based on various factors including equine health, age, and housing conditions such as barn or pasture board. Insurances for horses, however, appear to be less favored, as about 77.1 percent of horse owners do not opt for insuring their equestrian companions. Despite the considerable costs involved in acquiring and maintaining horse-related accessories – an initial outlay that may range between $1,850 to $5,000 – the nuanced details of ownership, such as specific dietary supplements or bespoke saddles, can further escalate these expenses. As the equestrian market adapts to modern challenges, the post-COVID-19 era has seen a marked shift towards digital platforms, with online tack shops experiencing increased traffic and purchase volumes. Texas and Georgia lead the country with the highest number of physical tack shops. Notably, Texas has between 7 and 9 percent of the total tack shops in the U.S. When it comes to market leadership, the U.S. equestrian accessory market's landscape includes a diverse array of international brands alongside domestic companies. Indian firms, leveraging their strong equestrian background, are increasingly penetrating the American market. As for the range of equipment necessary for equine activities,.### Key Manufacturers Shaping the Equestrian Equipment Market Landscape In the realm of equestrian pursuits, riders and their steeds are only as good as the equipment they rely on. The market is teeming with manufacturers that strive to offer products combining quality, innovation, and durability. This chapter will cast a spotlight on notable players whose offerings have caught the eyes of both casual riders and seasoned equestrian professionals. **Horze Equestrian**: As a beacon of Scandinavian design, Horze Equestrian has galloped into the global spotlight with a vast range of products that cater to both horses and riders. Their offerings marry sleek Nordic aesthetics with functionality, making them a popular choice in a market that values both style and substance. As a subsidiary of the Finn - Tack Group, Horze's products resonate with consumers who seek contemporary designs backed by European craftsmanship. **Colonial Saddlery**: Hailing from the Indian city known as an epicenter of leather goods, Kanpur, Colonial Saddlery has emerged as a significant exporter to the U.S. market. Their rich heritage in leathercraft is evident in each saddle and piece of harness they produce. The company's use of traditional techniques, combined with an understanding of modern equestrian needs, places them among the go-to choices for durable and authentic riding equipment. **Gems International**: This enterprise represents the Indian subcontinent's expertise in equestrian gear, showcasing a vast assortment of products. Gems International has built a name for itself, not just in Uttar Pradesh but across the oceans, by providing an extensive range of quality equestrian items that cater to various riding disciplines. **L&W Bits**: Tennessee's own L&W Bits puts forth an artisanal approach to horse bit manufacturing. Their products are deeply appreciated for the hands-on craftsmanship involved in creating each piece, allowing for bespoke solutions that cater to the unique needs of individual horses and riders. **Bomber Bits**: Though stemming from South African roots, Bomber Bits has found favor among American equestrians due to its specialized mouthpieces that enhance communication between horse and rider. Innovations like solid, flexible, and cable bits are particularly noted for their quality and effectiveness. **Kerry Kelly Bits**: From Texas, Kerry Kelly Bits emerges as a purveyor of handmade equestrian treasures, including horse bits and other related products. Their reputation is built on the customization and attention to detail, appealing to riders who seek gear tailored to their riding style and their horse's comfort. **Petska Bits**: Offered

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

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