Equestrian and equine products
To have a SWOT analyasis of the global horse-riding apparel market, as well as the equine healthcare market, then insights on the companies spending the most on advertising or running the most marketing campaigns, and insights in to how equestrian and equine companies sell - D2C or partnering with brands and distributors.
For this loop of the research we focused on the global equestrian apparel market and its SWOT. We found that the market is strong and that there are various strengths and opportunities, with few weaknesses and no threats.
Global equestrian market - strengths
- Direct-to-consumer sales are predicted to capture 44% of the global market share up to 2028. This is a strength, given the growing preference for online purchasing.
- Third-party online sales are forecast to grow at 4.7%.
- There is increasing interest in adventure sports.
Global equestrian market - weaknesses
- Established brands and a limited product portfolio are forcing key players in this market to form strategic partnerships to win in the intense competition that the market is facing.
Global equestrian market - opportunities
- Taking advantage of a disorganized market, tier 2 players with easy access to raw materials, are introducing new products and affordable alternatives.
- Increased prestige and visibility of international horse competitions (ie the Olympics and World Equestrian Games) are creating higher demand for equestrian equipment by promotional buyers.
- While the US and Europe dominate the market, there is emerging interest in equestrian sports in the Asia Pacific region. Greater China is expected to capture half of that market.
- As horse racing is becoming more popular globally, manufacturers have to engage in "strategic expansion to increase their footprints in the global equestrian equipment market."
- For example, Ariat International Inc. began a strategic acquisition of European distributors, sponsoring their brand in the international equestrian sports
- There is a growing awareness and popularity of equestrian events, especially among affluent people. Combined with this is the rising popularity of equestrian clothing as a fashion statement .
- Examples of apparel as fashion include Hermes, and its sturdy saddle stitch and scarves, and Ralph Lauren's men’s wear line with the "sport of kings."
- The number of start-ups for equestrian clothing is growing,
Proposed next steps:
You need to be the project owner to select a next step.
In order to meet the goals, we suggest continuing with a SWOT analysis of the equine healthcare market, followed by a short list of the key players that are spending big on marketing or that have run notable campaigns, and then insights in to how equestrian and equine companies sell - D2C or partnering with brands and distributors.