Horse Riding Apparel Market Outlook – 2031
- The horse riding apparel market size was valued at $2.7 billion in 2021, and is estimated to reach $4.1 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
- Clothes segment is the highest revenue contributor to the horse riding apparel market and is estimated to reach $1,339.3 million by 2031, at a CAGR of 4.1%.
- Male segment is the highest revenue contributor to the market and is estimated to reach $2,409.5 million by 2031, with a CAGR of 4.1%.
- Sports retail chain segment IS the highest revenue contributor to the market and is estimated to reach $1,407.7 million by 2031, with a CAGR of 4.1%.
- Europe is estimated to reach $1.4bn ,with a CAGR of 4.1%
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Analysts’ Perspective on the Global Market for Horse Riding Apparel Market
The demand for horse riding apparel has been spurred by an increase in spending on sports training and development among kids as a result of greater awareness of the advantages of participating in sports activity, such as improved attention and problem-solving skills
According to the insights of CXOs of leading companies, despite numerous unrests, including global unease and a collapsing global economy, the market for horse riding apparel has continued to expand. Due to the rise in sports consciousness and increased health awareness, the apparel market is expected to experience considerable growth. Additionally, a rise in government and commercial organization sponsorship of sporting events, which increases young people from developing regions’ participation, promotes market expansion. The market is also expected to grow as a result of an increase in clothing donations from different groups. Customers can now buy exclusive sports apparel from chains of sporting goods stores and have a chance to test out the products.
Horse Riding Apparel Market Introduction
According to a new report published by Allied Market Research, titled, “Horse Riding Apparel Market,” The horse riding apparel market size was valued at $2.7 billion in 2021, and is estimated to reach $4.1 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
Rise in number of horse riders is recorded by many horse ridings clubs in the UK and British Equestrian Trade Association (BETA) has revealed surge in users in past 5 years with more members added to clubs and increase leisure riders. Investment by people in leisure sports activities, new riding clubs & yards being introduced, schools & colleges including in the curricular as sports, and increased disposable income drive the growth of the global horse riding market. In addition, surge in both men and women in equestrian has led to extra safety by the horse riding association and rise in spine & ribs injury during horse riding has increased awareness in riders for use of protective horse riding apparels.
Key Market Scenario
– Clothes segment is the highest revenue contributor to the horse riding apparel market and is estimated to reach $1,339.3 million by 2031, at a CAGR of 4.1%.
– Male segment is the highest revenue contributor to the market and is estimated to reach $2,409.5 million by 2031, with a CAGR of 4.1%.
– Sports retail chain segment IS the highest revenue contributor to the market and is estimated to reach $1,407.7 million by 2031, with a CAGR of 4.1%.
– Europe is estimated to reach $1.4bn ,with a CAGR of 4.1%
Manufacturers have been concentrating on developing new goods that may satisfy the leisure needs of recreational riders and minimize damage from accidents that occur when competing. The wearing of safety gear when riding horses is now required by many groups, and horse riding schools have also begun doing so from the beginning of the training phase. Other than for professional riders, this has led to an increase in horse riding apparel generally.
According to horse riding apparel market analysis, the global market is analyzed on the basis of type, gender, distribution channel, and region. By type, the market is divided into clothes, boots, gloves, and others. Further, boots are classified into hunt boots, field boots, and dress boots. Among these, the clothes segment occupied the major horse riding apparel market share of the market in 2021, and is projected to maintain its dominance during the horse riding apparel market forecast period. The clothing is made for those who prefer to ride horses. As it offers more protection than other varieties, demand for it has increased significantly around the world, which significantly aids in market expansion.
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By gender, it is classified into male and female. Due to the growth of equestrian sports and increased consumer awareness of sports, the male market is registering significant horse riding apparel market growth.
By distribution channel, the market is divided into supermarket/hypermarket, independent sports outlet, sports retail chain, and others. Manufacturers are constantly working to improve the visibility of their products on shelves, and as a result, they primarily target sports retail chains. As a result, sports retail chains offer a wider selection of helmets and other horseback riding gear. Additionally, sports retail chains offer choices like discounts and the advantage of instant gratification, which aid in the expansion of the market for horse riding apparel.
In 2021, Europe accounted for 35.6% in the global market, and is expected to maintain its dominance during the forecast period. The market for horse riding apparel is expected to develop during the forecast period, largely because to expanding start-ups involved in the manufacture and sale of the clothing for horses.
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The COVID-19 epidemic has had a negative impact on the supply chain, and the entire consumer goods industry continues to suffer losses. To stop the spread of the corona virus, governments frequently implement absolute lockdown, during which time a number of sports were strongly advised to be suspended.
The major players analyzed for global horse riding apparel industry are Antares Sellier, Ariat International, Inc., Cavallo GmbH & Co. KG, Charles Owen, Dainese, Decathlon S.A, Georg Kieffer Sattlerwarenfabrik GmbH, HKM Sports Equipment GmbH, Horseware Ireland, Justin Boots, Mountain Horse, Phoenix Performance Products Inc, Professional’s Choice, Shanghai Goldtex Clothing & Bags Co., Whitaker International Ltd. The launch of new products and growing their companies have been the main developmental tactics used by the participants in the horse riding apparel market to grow their market share, boost profits, and maintain market dominance.