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Riding Boots Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global riding boots market was valued at USD 2.4 billion in 2022 and is projected to expand at a CAGR of 4.0% from 2023 to 2030. Riding boots are designed for the comfort and protection of riders while riding horses, and provide a variety of features such as support, cushioning, traction, and protection from impact. The growing popularity of horse riding, especially among the youth, has been a key factor driving the market. In addition, the rising participation of women in equestrian sports has been adding to the demand for riding boots.
The increasing popularity of fashion riding boots is also aiding the market growth. Riding boots have become more stylish and fashionable with time and are available in a variety of colors, patterns, and styles. Manufacturers are now offering a range of fashionable boots to the customers to meet their needs. For instance, in June 2021, Tredstep Ireland launched a new range of boots for the Spring/Summer collection. The new range of boots includes the Symphony Pro, Symphony Air, and Symphony Pro Air models, which are designed to provide superior fit, comfort, and performance.
Furthermore, the rising popularity of online retail is also aiding the growth of the market. The rising trend of e-commerce is making it easier for the customers to buy riding boots from the comfort of their homes. Manufacturers are also investing heavily in their e-commerce platforms to increase their reach and market share. For instance, in October 2021, Ariat International, Inc. launched its e-commerce platform to offer its customers a seamless shopping experience.
The increasing trend of customization is also adding to the market growth. Manufacturers are now offering customized riding boots to the customers based on their requirements and preferences. For instance, in April 2022, Cavallo Horse & Rider launched a new customizable Classic Field Boot. The new boot is designed to provide the best fit, comfort, and performance to the riders and comes with a range of customizable options such as color, calf size, toe shape, and foot width.
The rising trend of adventure sports is also contributing to the market growth. Riding boots are used for a variety of adventure sports such as mountain climbing and hiking. The growing trend of adventure sports is expected to further boost the demand for riding boots in the coming years.
Product Insights
The equestrian boots segment is expected to dominate the market, accounting for a share of around 35.4% in 2022. Riding boots are an essential item for any equestrian athlete because they provide support, stability, and protection. Riding boots are also used for aesthetic purposes and can be paired with jodhpurs, breeches, and other riding attire. According to an article published by the Riding Warehouse, in January 2020, the quality of a pair of riding boots is based on the material used and the way they are designed. Furthermore, technological advancements in riding boots such as the introduction of waterproof and dust-proof boots are driving the growth of the market.
The rubber boots segment is expected to expand at the fastest CAGR of 7.4% over the forecast period. Rubber boots are the most popular type of riding boots because they are the most comfortable, flexible, and lightweight. According to an article published by the Equestrian Co., in January 2020, rubber boots are the best choice for riders because they keep their feet warm and dry, even in wet and muddy conditions. In addition, its non-slip sole provides excellent grip and support, making them the preferred choice for equestrian athletes.
Distribution Channel Insights
The retail stores segment accounted for the majority of the market share in 2020. Riding boots are widely available in the physical stores, such as sporting goods stores, equestrian stores, and departmental stores. These physical stores offer touch and feel experience of the product, which is a major factor driving the sales of riding boots through this channel. The retail stores segment also enables customers to select their desired riding boots from a wide range of sizes, colors, and styles.
The online segment is expected to register the fastest growth rate over the forecast period. The rising penetration of the internet across the globe, increasing adoption of e-commerce, and rapid technological advancements are the major factors driving the growth of the online segment. Moreover, the availability of a wide range of products and attractive discounts offered by the online retailers is expected to fuel the segment growth over the forecast period.
Type Insights
The long riding boots segment accounted for the largest revenue share of 55.2% in the year 2022. The growing trend of long riding boots among horse riders is propelling the demand for the long riding boots segment. Furthermore, the increasing use of long riding boots for fashion purposes among the younger demographic is contributing to the demand for the product. For instance, in December 2020, Ariat, a brand of Wolverine World Wide, Inc., introduced a new collection of long riding boots designed for fashion-savvy riders.
The ankle riding boots segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. The growing popularity of ankle riding boots among horse riders is a key driver for the segment. Furthermore, the increasing availability of ankle riding boots in different styles, colors, and textures is creating a positive impact on the segment. For instance, in August 2020, Dublin, a brand of J.C. Penney Company, Inc., launched a new collection of ankle riding boots with a unique twist on classic styles.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 37.2% in 2022. Presence of leading players in the region, such as Tredstep Ireland, Mountain Horse, and Ariat International, is a key factor driving the market growth. Moreover, the presence of a large population of equestrian riders in the region is also contributing to the growth of the market. For instance, according to the British Equestrian Trade Association, the number of riders in the UK alone reached 2.9 million in 2021.
The Asia Pacific is expected to exhibit the fastest growth in the coming years. Increasing disposable income, rising awareness about riding sports, and developing infrastructure for equestrian activities are some of the key factors driving the growth of the market in the region. For instance, China is expected to register the highest growth in the region. According to the China Equestrian Association, the number of equestrian riders in the country is expected to reach 10 million by 2025.
Financial Projections
In this part of the riding boots products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your riding boots products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a riding boots products business comes from sales of the products, sponsorships, and other income sources such as online sales and retail outlets.
Projecting Expenses
In this section, all the regular expenses related to keeping the riding boots products business running will be described. The list of operating expenses includes wages, inventory costs, marketing, advertising, research and development, rent and utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the riding boots market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In April 2022, Ariat International launched the Heritage Contour series of riding boots designed to provide superior comfort and support to riders.
– In June 2022, Mountain Horse launched the Stratus Waterproof riding boots providing superior grip and protection against the elements.
– In August 2022, TuffRider launched the EquiFit Pro Riding Boots, providing superior flexibility and comfort to riders.
Some of the prominent players in the riding boots market include:
– Ariat International
– Mountain Horse
– TuffRider
– Ovation
– Dublin
– Noble Outfitters
– EquiFit
– Cavallo
– Helite
– Ascot Trading Company
Global Riding Boots Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global riding boots market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Casual Riding Boots
– Sport Riding Boots
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Riding Boots Products Market?
[A]: The key drivers of the Riding Boots Products market include increasing demand for stylish and fashionable riding boots, as well as a growing trend of outdoor activities such as horse riding, mountain biking, and other recreational activities. Moreover, the growing popularity of equestrian sports has also created a surge in the demand for riding boots, driving the market growth.
[Q]: What are the Major End-use Sectors of Riding Boots Products?
[A]: The major end-use sectors of riding boots products include equestrian sports, military and police, and recreational activities. The equestrian sports sector has the highest demand for riding boots products due to its requirement for safety, style, and comfort.
[Q]: Who are the Key Players in the Riding Boots Products Market?
[A]: Key players in the Riding Boots Products market include Ariat International, Inc., Cavallo Horse & Rider, Inc., De Niro Boot Company, Inc., Dublin Sportswear Corporation, and Tredstep Ireland Ltd.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation and customization of riding boots is expected to drive the market growth. Manufacturers are focusing on introducing new product designs and features to meet the needs of the consumer. They are introducing more stylish designs with different colors and materials to appeal to the growing consumer demand.
[Q]: What are the Factors Restraining the Market Growth?
[A]: The high cost of riding boots and the lack of awareness regarding the importance of riding boots are the major factors restraining the growth of the Riding Boots Products market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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