SOURCE: Packaged Facts

Packaged Facts

August 28, 2009 10:27 ET

Latest From Packaged Facts Probes Complexities of U.S. Equine Market, Focusing on Horses and Their Owners During the Recession

NEW YORK, NY--(Marketwire - August 28, 2009) - There was a time when horse ownership stood as a monument to America's prosperity. Whether for recreation or by profession, horse owners opened their hearts and wallets, thus creating a strong economy for the U.S. equine industry. And until recently, the multifaceted market grew in spite of itself.

The struggling U.S. and global economy has changed much in the industry. Leading market research publisher Packaged Facts, in its lastest report "The U.S. Equine Market: Feed, Health Care and Services for Horses," investigates these recession-induced changes and analyzes the complexities of the many segments within the equine market, including feed, health care products, services, and the diverse population of people who own horses and subsequently sustain the more than $40 billion industry amidst the recession.

The report is the first to dissect the horse population by function -- a factor dramatically impacting a horse's life and the amount of money spent on it -- and examine each segment individually. Horse owners are scrutinized by the riding disciplines they use to define themselves, as well as by the consumable goods and services (i.e., feed, drugs, veterinarians, dentists, and farriers) they employ to care for their horses.

Additionally, the report highlights reasons for optimism regarding the future of the equine industry.

"The professionals who compete and breed and train remain indispensable, but there is an equally important segment of horse owners for whom life without horses is not worth living. Their horses may not be shown or bred, but they are considered part of the family and no expense is spared on their behalf," says Packaged Facts Publisher Tatjana Meerman. "Packaged Facts predicts that instead of completely cutting back on the care and feeding of their horse pets, such owners will elect to skip a vacation, and will instead travel with their horse."

Key findings pertaining to the impact of the recession include the widespread herd thinning of even elite breeds such as race and show horses, the prevalence of casual horse owners and riders abandoning their horses in favor of less expensive pursuits, and the increasing number of committed owners who either can no longer afford to keep their equine companions or are cutting back on nonessential services.

"The U.S. Equine Market: Feed, Health Care and Services for Horses" analyzes the U.S. equine market from several perspectives, including those of the horses and the people who own them. The report examines market trends, key competitors, and horse owner demographics. Also examined are the feed, health care, and services purchased by horse owners. Current and future trends are analyzed with an eye on the present economic situation, including a forecast of the impact the sagging economy will have on the market and what strategies marketers can employ to regain their market share. For further information, visit: http://www.packagedfacts.com/redirect.asp?progid=71173&productid=1600728

About Packaged Facts -- Packaged Facts, a division of Market Research Group, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook at www.facebook.com/Packagedfacts.

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