Impact of media on enthusiasts to fuel demand for equestrian equipment – New study from Fact.MR
The market research carried out by Fact.MR provides exclusive insights into the growth of the market. The study identifies the crucial trends that are determining the growth of the equestrian equipment market. This recently released report sheds light on vital dynamics, such as drivers, restraints, and opportunities for key market players as well as emerging players associated with production and supply. Latest Report from Fact.MR Provides Detailed Analysis Of Equestrian Equipment Market
The report offers actionable and valuable insights overview of the equestrian equipment market. The latest report from Fact.MR provides details about the current market scenario across various regions along with historical data and market forecast. The report also includes information on sales and demand of the Equestrian Equipment market across various industries and regions.
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This recently released and insightful report sheds light on the Equestrian Equipment market insights, key dynamics, their impact on the overall value chain from vendors to end users, and the Equestrian Equipment market growth..
The US $ 1.9 billion equestrian equipment market in 2018 is expected to follow an optimistic growth path over the next decade, according to the new Fact.MR assessment. The study predicts that the equestrian equipment market will grow 1.4 times over the period 2018-2028. Although the market remains highly fragmented, providing high functionality and fashion in equestrian equipment remains the primary focus of major market players.
Taking advantage of an unorganized market, level 2 players with easy accessibility to raw materials introduce new products and economic alternatives. With more than 85% of the total market share in 2018, level 3 players continue to strengthen their presence in the national equestrian equipment market.
The Equestrian Equipment market report provides detailed analysis on various segments offering a holistic view of the market.
The equestrian equipment market is segmented on the basis of product type, sales channel, buyer type and region.
The equestrian equipment product type category includes assessment on equine equipment (saddle pad, stirrup, saddle, horseshoes and protective boots, bridle and accessories) and rider equipment (riding boots, gloves, helmets and protective vests).
Buyers of equestrian equipment are classified into private, institutional and promotional.
The sales channels category is further divided into specialty stores, modern business channels, direct-to-customer channels, and third-party online channels.
By region, an analysis of the demand for equestrian equipment in North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA) is provided.
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Fact.MR research shows that the promotional buyer type segment is expected to expand rapidly at a 4.3% CAGR through 2028. The growing prestige and visibility of international equestrian competitions such as the Olympics and the World Equestrian Games can be attributed to the growing demand for equestrian equipment. by promotional buyers. Institutional buyers are expected to retain their preeminence with nearly 60% market share thanks to a significant increase in the number of private horse clubs.
The direct-to-consumer channel is expected to capture nearly 44% of the global market share by 2028. This growth can be attributed to the preference of equestrian equipment manufacturers for contractual business with organizers of international competitions. The increasing inclination for online shopping explains the fastest growing third-party online channel with a CAGR of 4.7% during the forecast period.
With the significant impact on the American economy, the equine industry in the United States thrives with the presence of 7.2 million horses of which more than 70% are engaged in leisure activities, exhibition, racing and of work. Fact.MR research shows that North America will continue to hold the largest market share, with the United States capturing over 90% of regional growth. Europe is estimated to be in second place thanks to a significant impact of social media, a growing focus on equestrian recreational activities and a deeply rooted sports culture. The emerging interest in equestrian sports in Asia-Pacific is identified as the main driver of the projection of 1.5x growth of APAC during the forecast period. Greater China is expected to capture nearly half of APAC’s market share with the significant growth of China’s equestrian industry.
The demand for equine equipment is expected to exceed that for equestrian equipment due to the growing number of equestrian clubs and riding schools. Among equine equipment, it is estimated that saddles represent over 30% of sales as they remain the most common and widely used equine equipment.
Leading players in the equestrian equipment market are adopting strategic partnership and collaboration strategies to overcome the intense competition resulting from the established branding and limited product portfolio of traditional market players. The growing popularity of horse racing across countries around the world has led manufacturers to engage in strategic expansion to increase their footprint in the global equestrian equipment market.
For example, Ariat International Inc. initiated a strategic acquisition of European distributors and sponsored their brand in international equestrian sports for the past five years. Dainese SpA has opened new sales offices in emerging economies such as India to expand its limited geographic presence. Cavallo GmbH & Co. KG has initiated a collaboration with the international equestrian sports association around the world to establish the brand image in the international equestrian equipment market.
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Answer to the key question of the Equestrian Equipment Market report survey:
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More valuable information on the equestrian equipment market
Fact.MR in its new report offers an unbiased analysis of the equestrian equipment market, equestrian equipment sales and demand, analyzing forecast statistics to 2019 and beyond. The study reveals growth projections based on various criteria.
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