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.
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.