The equestrian accessories market - United States

1.2 World Market

The equestrian equipment market reached a valuation of $*,*** million in ****. Furthermore, over the ****-**** valuation period, growth is expected to accelerate at a CAGR of *.* percent, reaching $*,*** million. New equine technologies are being created to reliably assess and document horse health that can be used by trainers. Smart equestrian equipment for horse performance and maintenance has had a significant influence on the market. In addition, according to the Equine Business Association, more than ** million people globally are expected to participate in the sport. This feature is expected to open up new growth opportunities for equestrian equipment manufacturers, influencing the market in future years[***].

Value of the equestrian accessories market World, ****-****, in billions of $ Source: ****

1.3 U.S. market

The horse industry contributes $*** billion annually to the U.S. economy.According to the latest available data, the racehorse industry generates a direct economic impact of $** billion on the U.S. economy through the production of goods and services.in addition, the industry makes a contribution of $** billion in wages, salaries and direct benefits. This economic contribution has a direct impact on other sectors of the economy, and combining these effects, it is estimated that the racehorse industry contributes a total of $*** billion to the U.S. economy each year.

The states where the horse industry contributes the most to GDP are Kentucky (***). In contrast, the GDP of California, a state with the second largest number of horses in the U.S., has one of the lowest shares of contribution to GDP from the equine industry. At the same time, the GDP of Florida, a state with the third largest number of horses, relies more on the equine industry.

According to the American Horse Council's Horse Industry Trends, the total employment impact of the industry is estimated at *,***,*** million jobs, with:

Total volunteers equal to *,***,*** Total employment amounting to *,***,*** Direct employment amounting to ***,*** Direct wages amounting to $** billion

it is interesting ...

1.3 Exports and Imports

Saddlery and harness items for any animal (***) of any material, were in ****, the ***st most traded products in the world, with a total trade of $*.** billion. Between **** and ****, saddlery exports grew by **.* percent, from $*.** billion to $*.** billion. Saddlery trade accounts for *.***% of total world trade.

In **** the leading exporters of saddlery were, China (***). As can be seen from the chart below, the pandemic period did not bring decreases on the value of exports of the main countries taken as a reference. Over the past decade, all major countries by export value have experienced significant growth,

Temporal evolution of the export value of saddlery and harness items for any animal from the major countries World, ****, in millions of $ Source: ****

While, in **** the top importers of saddlery were, the United States (***).

Import shares of saddlery and harness items of any animal World, ****, in % Source: ****

1.4 U.S. equestrian accessories market breakdown

According to the American Horse Council (***) that collect and publish data on the U.S. equine population, and each organization counts the numbers differently.therefore, the AHC has combined data from all available sources and offers the most recent and accurate overview of the equine population. According to the AHC's latest available equine statistics, there are *,***,*** horses in the United States, including recreational and commercial horses.[***]

Based on the latter figure, based on the useful life and average price of equestrian accessories, it is possible to theorize an estimate of the size of the market for some of the accessories, for the U.S. market.

U.S. market for mouthpieces

Starting with the number of horses registered according to the latest official statistics, which is *,***,***, we can derive the value of the mouthpiece market by knowing the useful life of the accessory in question and the average price. According to reports, the useful life of the mouthpieces, especially the fillets, is ** years, as they are very durable. The price varies greatly, depending on the material, the complexity of the shape that outlines the type of activity performed by the horse, and the need to have one type rather than another. Considering ...

1.6 Covid-19 impact

During the COVID-** pandemic, the relationship between people and horses became even stronger and more meaningful, according to Dr. Clara Ann Mason, a veterinarian at an equine clinic in West Virginia. The pandemic had mixed effects on horse lovers: those who had their horses at home were able to spend more time with them, while owners with horses boarded elsewhere spent less time with their animals because of the restrictions. This situation caused frustration and concern for horse welfare. A survey of horse owners in different regions revealed that most equestrians continued to ride during the pandemic, albeit more cautiously, reducing activities considered risky. However, Australian equestrians were an exception, continuing to ride as they did before the pandemic, but worrying about possible feed shortages due to fire and drought. The CARES Act has provided financial aid to several farms and stables through interest-free loans, helping to support the equine industry. However, horse adoption declined when incentive payments ended and the unemployment rate increased, leading many horses to return to shelters. Equine rescue organizations have faced economic challenges due to rising costs of feed, transportation, and health care. Some of these organizations have had to make difficult decisions about adoptions and ...

2.1 Psychography of the equestrian market

Average horse owners are between ** and ** years old, female, and married. These horse enthusiasts tend to be impulsive buyers and devote an average of ** hours per week to their horses. To obtain information about horses, equine publications are their main source of information.

Demographically, we can see that thirteen million households in the United States have participated in riding in the wild, with **% of them riding on public lands. In addition, there are *.* million commercial and recreational horses in the country, and horse enthusiasts are found in ** million American homes. Most horse owners are involved in horseback riding for pleasure and recreational purposes. Surprisingly, one in ** Americans is involved with horses in some way.

The regions with the highest concentration of horses in the United States are Texas, California, and Florida. Other states such as Oklahoma, Kentucky, Ohio, Missouri, North Carolina, Colorado, and Pennsylvania complete the list of the ten states with the highest horse population. On the other hand, Rhode Island, Hawaii and Delaware have the smallest horse populations.

Turning to age, education and family, we find that the average horse owner is between ** and ** years old and female. Thirty-eight percent of equestrian participants are under the age of **, while ...

2.2 Spending habits

In general, owning a horse costs about $*,*** per year, but expenses vary widely depending on factors such as the horse's health and age. Location and whether the horse is kept in a barn or on pasture also affect costs. In addition, the average number of horses owned by a single owner is four and their average net worth is $**,*** (***). interestingly, **.*% of horse owners say their horses are uninsured.

Upfront costs

Horse ownership has a high initial cost: one must first purchase a horse, build a shelter, equip the stall, and vaccinate the horse.

Breakdown of initial costs incurred by a horse owner U.S., ****, in absolute value Source: ****

Miscellaneous costs include:

Blankets, rain cloths and coolers: $** to $***. Saddles (***)-can vary from region to region, but it is necessary to have them fitted from time to time. A high-quality saddle can cost about $****-****. Bridle - depending on quality, can cost between $*** and $***. Halter and leash - $** First Aid Kit - This is a must for all horse owners. Ideally it should contain essential medicines, bandages, compresses, gauze, cotton, etc. Approximate cost is $***. Transportation - Approximately $* per mile for less than *,*** miles. For a total that can range from $**** to $****.

Legal cost ...

2.3 More numbers on horse owners in the U.S

According to the American Horse Council's equestrian statistics, of all U.S. households, only *.*% own horses (***) of U.S. households own horse enthusiasts and spectators.

Another interesting trend in the equine industry is that **% of people who participate in horse-related activities do not actually own a horse. In addition, **.* percent attend equestrian events without owning or participating.

A recent study conducted in **** shows that the average horse owner in the United States owns * horses. **% of horse owners expect to own/operate the same number of horses in ****. in contrast, the average show horse owner owns more than * horses, typically valued at $**,*** or more each.

Horse ownership data show that most horse owners are not only recreational owners, but also actively participate in economic activities. According to research, ** percent of horse owners are involved as horse trainers and ** percent give lessons and instruction [***].

Most common activities performed by horse owners U.S., ****, in % Source: ****

3.1 Market structure

The equestrian equipment market in the United States has seen a sharp increase in international competitors in recent years, attracted by strong market demand. Indeed, one of the most valuable companies is Horze Equestrian, part of the Finn - Tack Group, based in Lahti, Finland. Many companies are then moving from the Indian market to the American market, given their strong equestrian culture. Some of these are Colonial Saddlery, based in Kanpur, India and Gems International based in Uttar Pradesh, India.

Top companies in the equestrian equipment market U.S., ****, in millions of $ Source : Businesscoot elaboration. **Businesscoot estimates based on published reports

Focus on horse muzzles

Below is a list of the most popular companies in the U.S. for horse feeders. The following data are extrapolated from GoogleTrends, and compared the companies most searched by users based on queries related to "horse bits." Only those queries that received a +***% increase in the number of searches in the U.S. territory in the past year were selected. The companies of greatest interest are:

L&W Bits, a company specializing in the production of handmade horse bits present in Tennesse

Bomber Bits, which specializes in solid, flexible, and cable mouthpieces, among others. ...

3.2 Geographical distribution

In the United States, companies that manufacture horse equipment are classified under NAIC code ******. This code encompasses several types of companies that produce specific categories of leather items or items intended for equitation. For the purposes of our analysis, although within this classification not only do companies producing equestrian items fall within it, the data are useful to get an overview of what is the geographic distribution of companies and their positioning in the U.S. territory.

These data reflect, if only partially, what is the distribution of horses and riding on U.S. soil.

According to the Ride With Equo report, the states with the largest number of horses in the United States are Kentucky, Oklahoma, Florida, Texas, Ohio, Missouri, North Carolina, Colorado, and Pennsylvania. These states as shown in the chart also have a countless number of companies that, among other things, are involved in the production of riding equipment (***).

3.3 The tack shops

Tack shops are stores specializing in the sale of riding equipment. Various riding equipment and training aids can be purchased in such stores, as well as riding boots and clothing, stable equipment, horse care products, grooming supplies, horse blankets and bedding, horse models, and books, magazines, and videos on riding.

From the chart below, one can get an idea of the number of tack shops listed by the specialized website Ohorse, for each state. As the chart shows, out of a total of **** Tack shops listed, Texas is the state with the largest number. Here there are *% of the total number of tack stores in the United States, followed by Georgia (***).

Online shops

Post - covid, the industry has undergone a radical transformation with a sharp increase in online shops specializing in the sale of riding equipment. Below is a list of the most popular online shops by number of visits and purchases made.

*. SmartPak: Offers a wide range of products for horses and riders, including supplements, clothing and equipment.

*. Dover Saddlery: Provides a wide selection of high-quality equipment for English and Western riding.

*. State Line Tack: Online store with a wide range of products for horses, riders ...

4.1 Range of equestrian accessories and prices

A horse needs very specific equipment for its comfort and safety. Below we find the accessories they need for equestrian activity:

Saddle, saddle and girth Stirrup irons and leather Bridle, reins and bit Grooming tools Fly spray Horse blanket or sheet First aid kit

We will look at what are the functionalities of each of the previously named accessories

The saddle, saddle and girth: Saddles are designed to fit both rider and horse, so it is essential to take measurements to make sure you get the right fit. Saddle pads are used under the saddle and act as a thin layer of cushion to keep the saddle from rubbing against the horse. Padding also absorbs sweat, prevents heat buildup and protects the saddle. you also need a girth, a band that attaches to the saddle and runs around the horse's belly to hold the saddle in place. The cost of the saddle, can be considered as the most expensive cost to bear among the range of equestrian accessories presented. The price varies, from the cheapest saddles at $***, to the most expensive saddles of $****. The price of the saddle varies from $** to $***. The girth also varies from the simplest at $** to the ...

4.3 Supply analysis on mouthpieces

Commercial horse mouthpieces are divided into:

Fillets: Mouthpieces known as "fillets" are characterized by the absence of barbs. They act on the horses' labial commissures (***). It is generally used in English riding. Bites: Mouthpieces called "bites" have a barbozzal and lateral levers. They act on the lips, bars, palate and even the back of the horse's neck They are generally used in American riding and for horses considered hard-mouthed.

Threads are characterized by two central elements (***), connected by a weave, and two side rings to which the headstock uprights and reins are to be attached. The various types of fillets on the market can be distinguished by the different types of cannons and rings and weaves used[***].

4.4 Supply trends

Equestrian trends in terms of equipment

There are a few specific products that are becoming very popular among consumers, such as, the waterproof saddle cover, colorful halters, horse boots, and winter horse blankets.

The waterproof sad dle cover is made of tear-resistant material and is fleece-lined on the inside, with an elastic hem that allows a perfect fit around the saddle itself. In keeping with the fashionable horse racing trends that are beginning to enter the market, there is a strong demand for colorful saddle covers that are instantly recognizable and add a personalized touch.

A horse halter is an essential piece of riding equipment. There are various types of horse halters on the market today, made of different materials and used for purposes such as training, racing or leisure riding. Although leather halters are very common, they can be an expensive purchase to make, which is why woven horse halters are beginning to grow in popularity. The halter is one of the most commonly used pieces of horse equipment, so it is important that it is made of sturdy material that is comfortable for the horse. Consumers also like the fact that the woven halter comes in different colors than ...

5.1 Regulation

Currently in the United States, there are the following pieces of legislation that relate to the equestrian world:

The Animal Welfare Act (***) was established by the **** amendment to the AWA, "Improved Standards for Laboratory Animals Act"[***].

Animal WelfareAct - Current statute passed by the U.S. Congress and incorporated into the U.S. Code, effective * U.S.C. ****. The statute gives USDA the authority to issue regulations to implement and enforce the Act. Animal Welfare Regulations - The Code of Federal Animal Welfare Regulations (***) provides detailed guidelines and standards drafted and adopted by USDA to implement and enforce the Animal Welfare Act. Rules of Practice Governing Proceedings under the Animal Welfare Act - The Code of Federal Regulations (***) contains the rules governing administrative proceedings for violations of the Animal Welfare Act.

The HorseProtection Act is a federal law that prohibits "sored" horses from participating in shows, exhibitions, sales, or auctions. The HorseProtection Act also prohibits the transportation of "sored" horses to or from any of these events. Soring is a cruel and inhumane practice used to accentuate a horse's gait. It is achieved by irritating or boiling the horse's front legs with chemical irritants (***) or mechanical devices. Walking horses are known ...

6.1 Segmentation

• Winderen
• Sprenger
• Stübben
• Bombers
• Beris
• Myler
• Equine industry