Equestrian Apparel Market to hit USD 9.7 billion by 2032, says Global Market Insights Inc.
Equestrian Apparel Industry is projected to witness a CAGR of 5.5% during the period 2023-2032. This growth can be attributed to the rising awareness and popularity of equestrian events in the developed countries.
Selbyville, Delaware, Oct. 29, 2023 (GLOBE NEWSWIRE) —
Equestrian Apparel Market size is expected to be worth USD 9.7 billion by 2032. The appreciable rise in the per capita income worldwide is shaping the industry outlook. With rising disposable income, people across developed and developing economies are actively participating in recreational activities such as horse riding, polo, and others, increasing the demand for equestrian apparel.
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Moreover, many equestrian apparel manufacturers are focusing on adding reflective elements, such as piping, trims, or panels to help increase the visibility of riders to others, such as drivers or fellow riders, reducing the risk of accidents. Such moves and initiatives will foster product adoption over the next ten years.
Increasing safety concerns to augment the demand for equestrian helmet
The equestrian apparel market from the helmet segment could amass significant gains through 2032, claims the report. Growing awareness about safety among sports enthusiasts has increased the demand for equestrian helmets. Moreover, many equestrian helmet manufacturers are focusing on innovating in terms of materials, designs, and technologies. Modern helmets feature improved impact-absorbing materials, ventilation systems, adjustable fittings, and other innovative features that enhance comfort and safety. In fact, a multi-directional impact protection system is now being integrated into helmets for added protection against certain types of head injuries.
Growing male participation in recreational activities to favor product uptake
The report cites that the equestrian apparel market share from the male segment will expand notably through 2032. High availability of a wide range of equestrian apparel for males will contribute to segment development. Many equestrian apparel manufacturers are focusing on offering customized products to their customers. They are also coming up with eco-friendly fabrics to cater to a broader customer base. Moreover, the rising participation of males in recreational activities has further increased the demand for equestrian apparel.
Online platforms to emerge as a prominent distribution channel
With respect to the distribution channel, the equestrian apparel market value from the online segment will observe substantial gains through 2032, suggests the report. High convenience and flexibility associated with online channels will support segment progress. Online retailers often offer a broader range of products at discounted prices to cater to a wider customer base, which over the years has added to their popularity. Moreover, increasing internet and smartphone penetration and rising disposable income have further increased consumer preference for online shopping.
North America to become a promising business hub
North America equestrian apparel market share will grow at more than 7% CAGR from 2023 to 2032. A commendable rise in the popularity of equestrian sports, such as horseback riding, show jumping, dressage, and polo has increased the demand for equestrian apparel in the region. Moreover, the increasing per capita incomes have propelled consumer spending on recreational activities and equestrian sports, further elevating the demand for premium quality riding attire in the region.
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Equestrian Apparel Industry Players
Ingredion Incorporated, Decathlon, Mountain Horse, TuffRider, Shanghai Goldtex Clothing & Bags Co., KEP Italia Srl, and Ariat, among others
Equestrian Apparel Market News:
- In December 2021, Ariat, a prominent lifestyle brand, unveiled the opening of its new retail store at the Fort Worth Stockyards. It is the brand’s fifth retail location in the U.S.
Partial Table of Contents (ToC) of the report:
Chapter 3 Equestrian Apparel Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018 – 2032
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
18.104.22.168 Contract Manufacturing
3.3.3 Profit margin analysis
3.4 Regulatory Landscape
3.5 Global animal feed industry overview, 2022
3.6 Pricing analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis, 2022
3.9 Porter’s analysis
3.10 PESTEL analysis
3.11 COVID-19 impact on Equestrian Apparel demand by applications
Chapter 4 Competitive Landscape, 2022
4.2 Market share analysis, 2022
4.3 Competitive analysis of key market players, 2022
4.3.1 Strategy dashboard
4.3.2 Production capacity
4.3.3 Production capacity
4.4 Vendor adoption matrix
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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