The global horse feed market, with a 4.64% CAGR, is projected to increase from USD 12.098 billion in 2025 to USD 15.879 billion in 2031.
The global horse feed market is anticipated to grow at a steady pace throughout the forecast period. Horse feed is an overall nutritional and health package for horses that can include pasture grasses, grains, hay, and concentrated mixes. The growing popularity of horse-related sports coupled with awareness about animal health and improved standard of living of people are expected to drive the growth of the horse feed market. Moreover, the continuous new product launches and innovative better nutritional health feed are further expected to drive the market growth of horse feed.
Increased Awareness about Animal Nutrition
The horse riders and trainers are now more aware of the nutritional requirements of their horses and mostly they get customized plans from experts to improve their overall health. Many leading health and lifestyle companies have released animal nutrition guidelines to be followed by owners while feeding their animals including horses. For instance, a guideline by Oregon State University released a guide to principles of animal nutrition based on 20 years of teaching experience. The UN Food and Agriculture Organization released a Nutrition and Livestock named technical guideline in 2020 for improved nutrition. The expert guidelines coupled with customized horse feed are anticipated to grow the horse feed market during the forecast period.
Growing Horse Population
The population of horses is rising and the rising population needs feeds for survival, growth, and health. This growing demand and its requirement will boost the horse feed market in the coming years. The population of horses in the USA reached 9.2 million in the year 2021 as per the reports of the American Horse Council which is an increase of nearly 3 million from the year 2016. Moreover, the total number of horse farms in the US was 459,526 in 2017 as per the National Economic Impact of the US Horse Population Survey conducted by the American Horse Council. As horse feed is necessary for the survival and longevity of horses, the growing population is propelling the horse feed market growth.
Health Benefits of Horse Feed
There are numerous health benefits related to the hose feed which are crucial for the horses and their survival. The horse feed provides energy, improves performance, and protects from muscular disorders. Moreover, it regulates body temperature and enhances chemical reactions in the body. The diet requirement of each horse varies to a certain extent and it is not appropriate to provide the same horse feed to every horse thus horse feed provides customized palate as per the nutritional requirements and weight estimates. These health benefits of horse feed serving the needs of all the trainers and riders are expected to propel the horse feed market size
The popularity of Horse Related Sports Events
The popularity of horse-related events is increasing and consequently, the need for improved horse feed is also increasing. The horse-related events are dressage, endurance riding, horse racing, show jumping, and others which are boosting the growth of the horse feed market. For instance, the Kentucky Derby saw a viewership of 8.3 million in 2020 which was covered by NBC and NBS Sports Digital and it was the most-watched sporting event of the year of the UK. The increased audience and the number of people interested in the horse sporting event are expected to boost the market potential of the horse feed market.
Opportunities for The New Entrants
The continuous innovations and product launches make the horse feed market a good opportunity for new entrants with a focus on improved health benefits of horse feed. The requirement of horse feed in the competition lines with improved recovery from performance is crucial at this time of growing popularity of horse-related events. Moreover, the company gets famous whose product is being fed to the winning horse during any big horse events and it gets the marketing advantage. The opportunity in the horse feed market is phenomenal for the new entrants keeping in mind the growth prospects of the horse feed market.
In February 2023, Bluegrass Horse Feed launched a new product Mare Prepare specifically for broodmares and horses with fertility issues. It consists of omega fatty acid, DHA, and EPA which provide benefits in fertility and reproductive health.
In October 2020, Nutrena® launched Rebound Technology in its feed. This technology helps horses in recovering from hard work or strenuous competition. Moreover, it was developed with an approach of comparable measure to human athletic recovery thus, it can provide recovery for consecutive performance days.
In September 2020, Saracen Horse Feed launched a 1.5 kg travel pouch addition to its Recovery Mash which was launched in 2019. It is suitable for traveling, competing, and after exertion. It provides hydration and benefits in hindgut health.
Horse Feed Market Segmentation:
By Type
Roughage
Concentrate
Hay
Others
By Breed Type
American Quarter Horse
Thoroughbred
Arabian Horse
Others
By Form
Pellet
Cubes
Powder
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Taiwan
Others