Updated: Nov 3
The global equestrian apparel market is projected to reach a value of USD 9.7 billion by 2032, according to a report by Global Market Insights Inc. The growth of the market can be attributed to the increase in per capita income worldwide. With higher disposable income, individuals in developed and developing economies are actively participating in recreational activities such as horse riding and polo, leading to a surge in demand for equestrian apparel.
In addition, equestrian apparel manufacturers are focusing on enhancing safety features in their products. Reflective elements like piping, trims, or panels are being incorporated to increase the visibility of riders and reduce the risk of accidents. These initiatives are expected to drive the adoption of equestrian apparel over the next decade.
The report highlights the increasing demand for equestrian helmets due to growing safety concerns among sports enthusiasts. Manufacturers are focusing on innovating in terms of materials, designs, and technologies to improve the safety and comfort of these helmets. Modern helmets now feature impact-absorbing materials, ventilation systems, adjustable fittings, and multi-directional impact protection systems for added head injury protection.
Furthermore, the report predicts significant growth in the male segment of the equestrian apparel market. Manufacturers are offering a wide range of customized products for male customers and using eco-friendly fabrics to cater to a broader customer base. The rising participation of males in recreational activities is also contributing to the increased demand for equestrian apparel.
Online platforms are expected to emerge as a prominent distribution channel for equestrian apparel. The convenience and flexibility associated with online shopping, along with a wider product range and discounted prices offered by online retailers, have driven consumer preference for online channels. The increasing internet and smartphone penetration, coupled with rising disposable income, have further accelerated the popularity of online shopping for equestrian apparel.
North America is anticipated to become a promising business hub for the equestrian apparel market, with the region projected to grow at a CAGR of over 7% from 2023 to 2032. The popularity of equestrian sports such as horseback riding, show jumping, dressage, and polo has contributed to the demand for equestrian apparel in the region. The increasing per capita income and consumer spending on recreational activities have further propelled the demand for high-quality riding attire in North America.
Overall, the equestrian apparel market is witnessing substantial growth, driven by factors such as rising disposable income, safety concerns, growing male participation in recreational activities, and the emergence of online platforms as a preferred distribution channel.
Source: Global Market Insights Inc.