The equestrian apparel market size is projected to grow from US$ 3 billion in 2022 to US$ 6 billion by 2030; the market is expected to record a CAGR of 5% from 2022 to 2030.
Market Insights and Analyst View:
Equestrian apparel is specialized clothing designed for horseback riding and related activities. It typically includes riding breeches, boots, gloves, helmets, and jackets, all tailored to provide comfort, safety, and functionality while riding. The surging popularity of equestrian apparel can be attributed to several factors. Firstly, a growing interest in horse racing as a recreational and competitive sport has increased demand for stylish and performance-oriented gear. Additionally, the fashion influence of equestrian attire has been expected beyond the stables, with riders and non-riders alike appreciating these garments' timeless and sophisticated aesthetics. The durability and technical features of equestrian apparel further contribute to its apparel contributing to its appeal, making it not only fashionable but also practical for various outdoor activities.
Growth Drivers and Challenges:
The increasing awareness and popularity of equestrian apparel in developing economies are significant contributors to the growth of the equestrian apparel market. As these economies undergo socio-economic advancement, there is rising interest in recreational activities, including horse riding. The burgeoning equestrian culture, marked by the establishment of riding schools and clubs, has created a demand for specialized gear. Moreover, the globalization of fashion trends has led to a heightened appreciation for the elegance and functionality of equestrian attire. As individuals in developing economies become more conscious of fashion and lifestyle choices, the appeal of equestrian apparel extends beyond the practicalities of rising, making it the symbol of style and sophistication. This shift in perception has fueled the market expansion, as consumers in these regions increasingly seek out and embrace equestrian-inspired fashion, contributing to the overall growth of the equestrian apparel market in developing economies.
Key players in the equestrian apparel market are adopting strategic initiatives such as mergers and acquisitions, collaborations, partnerships, and product launches. Such initiatives cater to the growing demand for fashionable apparel, expand their geographical reach, and increase their consumer base in developing economies. For instance, in December 2022, LIVRAE announced the launch of British riding apparel that embraces every element of equestrian life. The launch was aimed to cater to consumer demand for fashionable equestrian apparel. Additionally, in September 2023, Hugo Boss announced it would enter the equestrian apparel ring with a new Boss line to be launched by 15th September. The launch aimed to strengthen its sports offering and increase the brand's visibility and relevance for female and male equestrian customers.
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Equestrian Apparel Market: Strategic Insights
Equestrian Apparel Market
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CAGR (2023 - 2031)
5.00%
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Market Size 2023
US$ 3.15 Billion
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Market Size 2031
US$ 4.65 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Ariat International, Inc.
- Cavallo GmbH & Co. KG
- Charles Owen
- HKM Sports Equipment
- Decathlon
- Ladyhall Ltd
- UVEX
- Kerrits Equestrian Apparel, Inc.
- Kastel Denmark
- Vestrum Srl
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product Type
- Topwear
- Bottomwear
- Others
By Category
- Men
- Women
- Unisex
- Kids
and by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Equestrian Apparel Market: Strategic Insights
-
CAGR (2023 - 2031)5.00% -
Market Size 2023
US$ 3.15 Billion -
Market Size 2031
US$ 4.65 Billion
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Ariat International, Inc.
- Cavallo GmbH & Co. KG
- Charles Owen
- HKM Sports Equipment
- Decathlon
- Ladyhall Ltd
- UVEX
- Kerrits Equestrian Apparel, Inc.
- Kastel Denmark
- Vestrum Srl
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product Type - Topwear
- Bottomwear
- Others
By Category - Men
- Women
- Unisex
- Kids
and by Distribution Channel - Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Segmentation and Scope:
The global equestrian apparel market is segmented based on product type, category, distribution channel, and geography. Based on type, the equestrian apparel market is segmented into topwear, bottomwear, and others. Based on the category, the market is segmented into Men, Women, Unisex, and Kids. Based on the distribution channel, the equestrian apparel market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Geographically, the market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Segmental Analysis:
Based on distribution channel, the equestrian apparel market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment holds a significant market share, and online retail is expected to grow fastest during the forecast period. Online retail stores offer a wide variety of products with heavy discounts. Also, consumers can conveniently buy desirable products remotely. Additionally, home delivery service attracts many customers to shop through e-commerce platforms.
Moreover, shopping websites offer descriptive product information and user reviews, which help buyers compare products and make informed decisions. During the COVID-19 pandemic, online retail channels gained popularity as they offered home delivery services. These factors are expected to boost the online retail segment's future equestrian apparel market growth.
Regional Analysis:
The equestrian apparel market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Europe dominated the global equestrian apparel market. North America is the second major contributor to the market, and Asia Pacific is expected to grow substantially during the forecast period. The demand for equestrian apparel in North America can be attributed to several factors. Firstly, the increasing popularity of horse riding as a recreational and competitive activity has driven a heightened interest in specialized gear. Equestrian apparel events, such as horse shows and competitions, have gained prominence, creating a growing market for stylish and performance-oriented apparel.
Additionally, the influence of equestrian fashion has transcended the stable, capturing a broader audience attracted to these garments' classic and refined aesthetics. The emphasis on comfort, safety, and technical features in equestrian apparel further aligns with the active lifestyle of individuals engaging in various outdoor pursuits. As a result, the combination of a thriving equestrian culture, expanding fashion appeal, and the practicality of the attire has led to a notable increase in demand for equestrian apparel across North America.
Industry Developments and Future Opportunities:
Various initiatives taken by key players operating in the equestrian apparel market are listed below:
- In 2023, H&M introduced the horse-riding apparel line, slated for release by the end of 2023. It will be branded as 'All in Equestrian,' a name paying homage to the renowned H&M All In. The launch aimed to cater to the growing demand for equestrian apparel among consumers.
COVID-19 Pandemic Impact:
The COVID-19 pandemic affected industries in various countries, influencing their economic conditions. Lockdowns, business shutdowns, and travel bans in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including the consumer goods industries. The shutdown of manufacturing units disturbed global manufacturing activities, supply chains, delivery schedules, and sales of various essential and non-essential products. In 2020, various companies announced possible delays in product deliveries and a fall in future sales of their products. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. Additionally, lockdowns and disruption in the supply chain initially caused sourcing ingredients and packaging challenges. All these factors hampered the consumer goods industry in 2020 and early 2021, thereby hindering the growth of various markets related to this industry, including the global equestrian apparel market.
Many industries faced challenges due to the COVID-19 outbreak in 2020. The consumer goods industry declined due to the shutdown of manufacturing units and supply chain disruption. The pandemic disturbed the manufacturing processes with restrictions imposed by government authorities in various countries. During the initial phase of the pandemic, almost all countries proposed lockdowns in their respective economies, where people were restricted from going outside their houses. Stay-at-home orders and closures of sports grounds, including racecourses, hampered the equestrian apparel market. However, easing restrictions and opening horse racing grounds propelled the demand for equestrian apparel. Manufacturers' initiatives to increase production by implementing safety measures for workers, coupled with the increasing popularity of online shopping services, propelled the growth of the equestrian apparel market.
Competitive Landscape and Key Companies:
Ariat International, Inc.; Cavallo GmbH & Co. KG; Charles Owen; HKM Sports Equipment; Decathlon; Ladyhall Ltd; UVEX; Kerrits Equestrian Apparel, Inc.; Kastel Denmark; and Vestrum Srl are among the prominent players operating in the global equestrian apparels market. These market players are adopting strategic development initiatives to expand, further driving the market growth.
Equestrian Apparel Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.15 Billion |
| Market Size by 2031 | US$ 4.65 Billion |
| Global CAGR (2023 - 2031) | 5.00% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Category, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
- Ariat International, Inc.
- Cavallo GmbH & Co. KG
- Charles Owen
- HKM Sports Equipment
- Decathlon
- Ladyhall Ltd
- UVEX
- Kerrits Equestrian Apparel, Inc.
- Kastel Denmark
- Vestrum Srl
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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