PORTLAND, OREGON, USA, August 25, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Riding Apparel Market“Equestrian Clothing Market size was valued at USD 2.7 Billion in 2021 and is projected to reach USD 4.1 Billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031 .
The increase in ridership is being recorded by many UK riding clubs and the British Equestrian Trade Association (BETA) has revealed an increase in users over the past 5 years with more members being added to clubs and an increase in recreational riders. The investment of people in leisure sports activities, the introduction of new riding clubs and lessons, schools and colleges including the school curriculum as a sport, and the increase in disposable income are driving the growth of the global horse riding market. In addition, the increase in the number of men and women in riding has led to additional safety from the riding association and the increase in spinal and rib injuries during riding. equitation has made riders aware of the use of protective clothing for horse riding.
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Key Market Scenario
– Apparel segment is the highest revenue contributor to the riding apparel market and is projected to reach USD 1,339.3 million by 2031, at a CAGR of 4.1%.
– The male segment is the largest revenue contributor in the market and is expected to reach $2,409.5 million by 2031, growing at a CAGR of 4.1%.
– The sports retail channel segment IS the largest contributor to market revenue and is projected to reach $1,407.7 million by 2031, growing at a CAGR of 4.1%.
– Europe is expected to reach $1.4 billion, with a CAGR of 4.1%
Manufacturers have focused on developing new products that can meet the leisure needs of recreational cyclists and minimize the damage caused by accidents that occur during competitions. Wearing safety equipment on horseback is now required by many groups, and riding schools have also started to do so from the start of the training phase. With the exception of professional riders, this has led to an increase in riding apparel in general.
According to the Riding Apparel Market analysis, the global market is analyzed based on type, gender, distribution channel, and region. By Type, the market is split into Apparel, Boots, Gloves, and Others. Further, boots are categorized into hunting boots, field boots, and dress boots. Among these, the apparel segment occupied the major share of the riding apparel market in 2021 and is expected to maintain its dominance during the forecast period of the riding apparel market. The clothes are made for those who prefer to ride a horse. As it offers more protection than other varieties, its demand has increased significantly around the world, which contributes significantly to the expansion of the market.
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By gender, it is categorized into male and female. Due to the growth of equestrian sports and increased consumer awareness of sports, the men’s market is witnessing significant growth in the riding apparel market.
By distribution channel, the market is divided into supermarket/hypermarket, independent sports store, sports store chain and others. Manufacturers are constantly working to improve the visibility of their products on the shelves and therefore they mainly target sports retail chains. As a result, sports retail chains offer a wider selection of helmets and other riding gear. Additionally, sports chain stores provide choices such as discounts and instant gratification benefit, which contribute to the expansion of the riding apparel market.
In 2021, Europe accounted for 35.6% of the global market and is expected to maintain its dominance over the forecast period. The equestrian apparel market is expected to grow over the forecast period, largely due to the expansion of start-ups involved in the manufacture and sale of equine apparel.
The COVID-19 outbreak has had a negative impact on the supply chain and the entire consumer goods industry continues to suffer losses. To stop the spread of the corona virus, governments frequently put in place an absolute lockdown, during which time a number of sports were strongly advised to be suspended.
Key Players Analyzed for Global Riding Apparel Industry are Antares Sellier, Ariat International, Inc., Cavallo GmbH & Co. KG, Charles Owen, Dainese, Decathlon SA, Georg Kieffer Sattlerwarenfabrik GmbH, HKM Sports Equipment GmbH, Horseware Ireland, Justin Boots, Mountain Horse, Phoenix Performance Products Inc, Professional’s Choice, Shanghai Goldtex Clothing & Bags Co., Whitaker International Ltd. Launching new products and growing their businesses have been the key development tactics employed by the Riding Apparel market players to expand their market share, increase their profits and maintain their dominance in the market.