Market Overview: Horses and Other Equine Production

The Horses and Other Equine Production industry, classified under NAICS 112920, encompasses establishments primarily engaged in the breeding, raising, and selling of equines such as horses, mules, and donkeys.

The total addressable market for the Horses and Other Equine Production industry is estimated to be around $7 billion as of the most recent available data, with a compound annual growth rate (CAGR) of approximately 3.5%.

The key segments of the Horses and Other Equine Production industry include:

• Thoroughbred Breeding: Breeding and raising thoroughbred horses primarily for racing.
• Show Horse Breeding: Breeding horses for competitive showing and events.
• Recreational Horse Breeding: Breeding horses for recreational riding and participation in amateur events.
• Working Equine Production: Breeding and raising donkeys and mules primarily for labor or transport.
• Equine Services: Providing stud services, boarding, and related support.

Several factors drive the growth of the Horses and Other Equine Production industry:

• Rising Popularity of Equestrian Sports: Increasing interest in racing, dressage, and other equestrian activities.
• Recreational Riding Demand: Growing consumer interest in horse riding as a hobby and leisure activity.
• Increased Horse Ownership: Rise in the number of individuals and families owning horses.
• Government Support: Subsidies and grants for equine farms and breeders.
• Technological Advances: Improvements in breeding techniques and veterinary care.

Key risks associated with the Horses and Other Equine Production industry include:

• Economic Downturns: Reduced discretionary spending can impact recreational and luxury equine markets.
• Regulatory Changes: New legislation on animal welfare and zoning laws.
• Health Issues: Disease outbreaks affecting equine populations.
• Environmental Factors: Adverse weather conditions impacting feed availability and farm operations.
• Market Competition: Increased competition from other luxury leisure activities.

The value chain of the Horses and Other Equine Production industry involves:

• Breeding: Selecting and mating horses to produce high-quality offspring.
• Raising: Feeding, training, and caring for young equines until they reach maturity.
• Sales: Selling horses through auctions, private sales, or directly to end-users.
• Support Services: Veterinary care, training, feed provision, and related services.
• End Use: Using horses for racing, showing, recreational riding, or labor.