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com
 Aim:
To develop an understanding of the “world/industry” our company operates
in.
This informa>on is not part of the pre-seen analysis released by CIMA.
It is only to be used before diving into the pre-seen to have a prior idea of
what the global horse riding equipment and more specifically the horse
saddles manufacturing industry is like in the global world.
So, once you start with our detailed pre-seen analysis you can start rela6ng
and picking up points from the very beginning.

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 Horse Saddles and Tacks Market Analysis And Major
Driving Forces:
Global horse riding equipment market to register a CAGR of 4% during the
forecast period of 2020 and 2030.

Horse saddles and tacks refer to the

equipment used for riding and caring
for horses. Saddles are specifically
designed seats placed on the back of
the horse for the rider, providing
comfort and stability.

Tacks, on the other hand, include

various accessories such as bridles, reins, bits, and s>rrups, which help the
rider control and communicate with the horse effec>vely.

The horse saddles and tacks market is projected to grow at a substan6al rate
because:
- The increasing popularity of equestrian sports,
- rising disposable income in developing economies,
- and the growing trend of recrea>onal horse riding are an>cipated
to drive market growth.
- Addi@onally, the adop>on of online sales channels and the
availability of a wide range of products for different riding
disciplines and horse breeds are expected to further propel the market.

Overall, the horse saddles and tacks market presents significant opportuni>es
for manufacturers, retailers, and distributors in the coming years.

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Specifically speaking about Horse saddles segment now:
Horse Saddles benefit horses by dispersing the riders' weight. Saddles
are necessary because without a saddle, the rider doesn't have a firm
seat, and even a sixteen-year-old could feel three >mes heavier than her
weight without a saddle.

Major factors for this segment growing:

- Increasing par@cipa@on in horse riding as a result of social media
influencers to strengthen revenue streams.
- Training and prac@ce for Olympics 2021, 2025 and 2029 to ensure
consistent demand for horse riding equipment.
- South Asia and Pacific to remain manufacturing hub for horse riding
equipment as labour remains an affordable resource.
- Luxury helmets and other gear to s>ll remain an aUrac>ve segment as
the no>on of eli>st sport con>nues.

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 Restraining Forces:
Several factors can act as restraints or challenges for the Horse Riding
Equipment Market.

These may include:

- Economic Condi@ons: Consumer expenditure on non-essen>al
things, such as leisure ac>vi>es like horseback riding, may decline
during economic downturns. This may have an effect on the
market.

- Cost of Ownership: Stabling, feed, veterinary care, and basic

maintenance are among the con>nuous expenses associated with
horseback riding. If these expenses rise, it might deter new players
from taking up the sport or force current players to spend less on
luxuries like horseback riding gear.

- Regula@ons: Modifica>ons to laws pertaining to safety

requirements, horseback riding, or animal welfare may have an
effect on the sector. New restric>ons may impact corporate margins
and necessitate more investments.

- Compe@@on from Other Sports and Ac@vi@es: The market for horse
riding equipment may be impacted if other recrea>onal ac>vi>es
become more well-liked or easily available, as this could draw
poten>al riders away from horseback riding.

- Supply Chain interrup@ons: The availability and price of horseback

riding equipment may be affected by supply chain interrup>ons
such as material shortages, transporta>on problems, or
geopoli>cal events.

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 Major Trends In Todays Modern World
The horse saddles and tack market has experienced steady growth in recent
years, driven by:
- the increasing popularity and par>cipa>on in equestrian ac>vi>es
- advancements in technology have led to the development of innova>ve
and comfortable saddle designs, further fueling market demand.
- Looking ahead, the market is expected to con>nue its upward
trajectory, supported by the increasing adop>on of e-commerce
plaZorms and the rising emphasis on horse riding as a recrea>onal
ac>vity.

Market players should focus on product innova@on and expanding their

distribu>on channels to capitalize on the growing opportuni>es in this
segment.

The biggest challenge for horse equipment market for many years was
affordability. However, as produc>on of apparel and gear moved to eastern
markets, it allowed vendors to create a higher affordability. Mass produc>on at
faster rates has allowed brands to have a far reaching impact.

Through the years, it has enabled vendors to

create a newer consumer base, luring in
consumers solely on the basis of affordable Real World Trends
price point. In a world gripped by technology,
the horse riding equipment manufacturers are
staying focussed on incorpora>ng capabili>es
that allow beUer learning and in effect, beUer performance for the jock and the
horse.

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In the same vein, manufacturers of sportswear for equine sports will
capitalize on sensor technology through wearable devices to gain a unique
insight into finer nuances of the game. A great demand to reduce the risk of
injury to the rider and to monitor the animal’s performance to improve the
teamwork has been the sole mo>ve of every advancement in this unique field.

For instance, Eques>c SaddleClip is an electronic sensor that helps the

sportsperson measure and analyse their training. It collects the data during the
training period, which can be used to decide the best training possibili>es. It
notes details down to specifica>on such as >me spent on each rein, number of
jumps, tempo, gait, gallops, canter, eleva>on, and most importantly, intensity
per training.

The role of social media in influencing youngsters to take up riding lessons

cannot be denied. The popularity of the sport has been largely driven by the
explosion of social media and growing number of celebri>es influencing the
riding for leisure or sport. While mo>va>on to pursue horse riding might be
high on vanity metric, analysts predict that is could lead to authen>c
engagement in the years to come.

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 Compe@@on Analysis:
The horse saddles and tacks market is highly compe@@ve, with several key
players domina@ng the industry.

So this would be categorised as a fragmented market with pricing and other

differen>a>on factors playing key roles.

Some of the prominent companies include:

- Antares,
- Bates,
- Pessoa,
- Hermès,
- Circle Y,
- Billy Cook,
- Wintec,
- Tucker Saddlery,
- Dale Chavez,
- Kieffer,
- Freedman's Saddlery,
- Steuben,
- Bob's Custom Saddle,
- Gaston Mercier,
- Colonial Saddlery,
- Harry Dabbs,
- Amerigo,
- and Pariani.

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 Global Segmenta@on:

Europe dominates the global horse riding equipment market as the countries
such as the UK have been pioneers of this sport with years of experience in
breeding, training, and compe>ng.

Historically speaking, the colonial influence has also given countries such as
India an edge over others in the sport. Played by royals, the market is a
booming one in India with growing number of youngsters seeking to indulge
for recrea>on and at compe>>ve levels.

North America too has significant number of clubs, which has increased
par>cipa>on in the sport through the years. Investments in ranches and stables
have also improved the scope of sales for the manufacturers in the market.

Currently, among these regions, Europe and North America are expected to
dominate the market due to their established equestrian tradi>ons and a large
base of horse riders.

Europe is projected to hold the largest market share of around 40%, followed
closely by North America with approximately 35%.

The APAC region, mainly driven by China's growing interest in horse riding, is
an>cipated to witness significant growth and capture a market share of 15%.
The United States is projected to hold a market share of around 10%.

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Compiled by Finntutors.com
 Key Industry developments:
Antares, founded in 2000, is a leading brand known for its high-quality saddles.
The company has experienced steady market growth by consistently delivering
innova>ve designs and superior cragsmanship. With its commitment to
performance, Antares has captured a significant market share and is highly
regarded by equestrians worldwide. Though the exact sales revenue is not
available, Antares is es>mated to generate substan>al revenue due to its
popularity and market posi>oning.

Bates, a well-established Australian brand, has a rich history da>ng back to

1934. Over the years, Bates has grown its market share by focusing on
con>nuous research and development. The company is known for its cuhng-
edge technologies, such as adjustable gullet systems, providing tailored-fit
saddles for horses. Bates has witnessed significant market growth and
con>nues to expand globally. The company generates substan>al sales
revenue, driven by its strong customer base and reputa>on.

Hermès, renowned for its luxury products, entered the horse saddles and tacks
market in 1837. The brand's heritage and cragsmanship have led to its
remarkable success in the industry. Hermès emphasizes superior quality
materials, me>culous design, and aUen>on to detail. Despite catering to a
niche market segment, Hermès has steadily grown its market share and enjoys
a strong brand image. The company generates substan>al sales revenue due to
its exclusivity and premium pricing strategy.

Circle Y, founded in 1960, specializes in Western saddles and accessories. With

a focus on comfort and durability, Circle Y has become a trusted brand among
Western riders. The company's commitment to quality has allowed it to
maintain market growth and gain a significant customer base. Circle Y's sales
revenue is es>mated to be substan>al, given its strong posi>on in the Western
saddles segment.

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 Take-Aways From This Industry Analysis:
All this informa@on will help you get into the ‘world’ of the company we are
about to understand in the detailed pre-seen analysis.

So, when we start with our pre-seen analysis you will already be in the ‘zone’
of understanding what the global horse saddles industry is like.

The Case Study Exam is a simula>on of problems so any ideas you pick up from
this document or any documents to come can be used in your answers.

All the examples and necessary informa>on above is very relevant to the
‘world’ of our company and can definitely be used when wri>ng an actual
answer.

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Sources:

hUps://www.verifiedmarketresearch.com/product/horse-riding-equipment-
market/#:~:text=Global%20Horse%20Riding%20Equipment%20Market%20Rest
raints,may%20decline%20during%20economic%20downturns.

hUps://www.linkedin.com/pulse/horse-saddles-market-size-unlocking-growth-
poten>al
hUps://www.marketresearch.com/Maia-Research-v4212/Global-Horse-Saddle-
Research-Compe>>ve-34279387/

hUps://www.precisionreports.co/enquiry/request-
sample/22363596?utm_source=PRESSWIREandutm_medium=KIAandutm_cam
paign=PRESSWIRE

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