Horsewear Market Report Overview
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The global horsewear market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.
Horsewear refers to the various types of clothing and accessories that are worn by horses for protection, comfort, and style. This includes items such as blankets, sheets, fly masks, halters, saddles, bridles, and leg wraps/boots, among others.
The horsewear market is influenced by factors such as changes in consumer demand, advancements in technology and materials used in horsewear products, and trends in the equestrian industry. It is also affected by external factors such as economic conditions, availability of raw materials, and regulations related to animal welfare. In addition, the market is estimated to grow steadily at its potential growth with a significant CAGR and based on by type, in 2021, equestrian entertainment was the leading segment.
COVID-19 Impact: The Market Faces Slowdown in the Demand for Horsewear Products During Pandemic
The COVID-19 pandemic has disrupted global supply chains, making it difficult for manufacturers to source raw materials and transport products. This has led to delays and shortages of horsewear products. As well as, many equestrian events, including horse shows and competitions, have been cancelled or postponed due to lockdown restrictions. This has reduced demand for certain types of horsewear products, such as show attire and equipment. However, the market has begun to gain demand for the products as all the restrictions have been lifted from the industry.
Latest Trends
"Trend of Fashionable and Stylish Horsewear Products Widen the Market Outlook"
The market for horsewear is gradually evolving with the growing latest developments in the market which reflect the industry's focus on innovation, sustainability, customization, and fashion. These developments are expected to continue to shape the industry in the coming years as manufacturers work to meet the evolving needs of horse owners and riders. Additionally, there have been several technological advancements in the horsewear market, including the development of new materials and manufacturing techniques that improve the comfort, durability, and safety of horsewear products. For example, there are now high-tech fabrics that wick away moisture, regulate body temperature, and provide UV protection. Consequently, such trends and developments are ascribed to aid the growth of the market throughout the forecast 2022-2028.
Horsewear Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into Horse Rugs, Saddle Pads, Fly Veils and Masks, Leg Protection, Girths, Halters and Leads, Half Pads, and Other.
- By Application Analysis
Based on application, the market can be divided into Equestrian Entertainment and Equestrian Competition.
Driving Factors
"Increasing Participation in Equestrian Activities Boosts the Demand for Horswear Products"
The growth of market is steadily expanding over the years due to several driving factors of the market such as technological advancements, increasing participation in equestrian activities, and growing interest in horse riding. In addition to this, more people take up equestrian activities, such as horse riding and shows, and the demand for horsewear products is expected to increase. This trend is being driven by factors such as rising disposable income, growing interest in outdoor and leisure activities, and increased awareness of the health and fitness benefits of horse riding. As a result, these factors are attributed to augment the horsewear market growth over the forecast period.
"Growing Emphasis on Horse Welfare Concerns Support the Growth of the Market"
Growing emphasis on horse welfare is another major factor to drive the market growth. As animal welfare concerns continue to rise, there is a growing demand for horsewear products that are designed to promote the health and safety of horses. Thus, this trend is expected to drive the development of new and innovative horsewear products that offer better protection, fit, and performance.
Restraining Factors
"Economic Uncertainty & Competition from Substitutes Can Hamper the Market Growth"
The growth of the market can be restricted by some present challenges in the market, for instance, economic uncertainty, competition from substitutes, such as; rental products or used horsewear products, and seasonal demand. These factors can confine the expansion of the market.
Horsewear Market Regional Insights
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"Europe Dominates the Market with a High Level of Horse Ownership and Participation in Equestrian Sports"
According to the market overview, Europe is predicted to be a leading region in the horsewear market. The region has a long-standing equestrian culture and history, and many countries have a high level of horse ownership and participation in equestrian sports. Countries like Germany, France, and the U.K. have a large and established horsewear industry, with many well-known brands and manufacturers. The region is also home to several major equestrian events, which help to drive demand for horsewear products. Besides, the majority of the horsewear market shares are held by Europe globally.
Key Industry Players
"Prominent Companies Enhance Marketing Strategies to Expand Market Reach"
With regard to key players, major companies in the horsewear market stimulate growth by investing in product innovation, marketing and advertising, distribution, and retail partnerships, customer service and support, and sustainable and ethical business practices. These efforts help to rise demand for horsewear products, expand the market, and build long-term relationships with customers. Moreover, some of the leading companies in the market such as Nehal Leather Work, Premier Equine, Horseware Ireland, Kentucky Horsewear, MATTES, Azmal International, and others are notable companies that influence the growth of the market by their profit revenue.
List of Market Players Profiled
- Nehal Leather Work
- Premier Equine
- Horseware Ireland
- Kentucky Horsewear
- MATTES
- Azmal international
- Flyveils by Design
- Cashel Company
- IKONIC
- Animo Srl
- ASUP
Report Coverage
This report defines the horsewear market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
Frequently Asked Questions
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What are the key driving factors of the global and united states horsewear market?
The increasing participation in equestrian activities, growing interest in horse riding, and rising horse welfare concerns are the driving factors of the horsewear market.
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What is the leading region in the horsewear market?
Europe is leading the horsewear market due to a long-standing equestrian culture, history, and a high level of horse ownership and participation in equestrian sports in many countries in the region.
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What are the key players in the horsewear market?
Nehal Leather Work, Premier Equine, Horseware Ireland, Kentucky Horsewear, MATTES, Azmal international, Flyveils by Design, Cashel Company, IKONIC, Animo Srl, ASUP are the top players in the horsewear market.
