The global horse bunk feeder market is estimated to reach USD 1,108 million by 2033, up from USD 590 million in 2023, exhibiting a CAGR of 6.5%.
The horse bunk feeder market is a niche market within the larger livestock farming industry that specializes in the production and sales of feeders specially designed for horses. Horse bunk feeders are typically designed to make it easy for horses to access the feed. Therefore, these feeders also help in reducing the amount of labor required for the horses.
The market has seen steady growth in recent years. Several horse owners and breeders have recognized the benefits of using these specialized feeders. The market is driven by several factors including the increasing popularity of horse breeding and ownership. As many people become interested in owning and breeding horses, the demand for specialized equine products, such as horse bunk feeders, increases.
Growing awareness has been also noticed among horse owners and breeders regarding the importance of proper nutrition for horses. They are increasingly conscious of the impact that nutrition can have on a horse’s health and performance. They are looking for ways to ensure that their animals are getting the better diet. Horse bunk feeders are an efficient and convenient way to provide horses with the right amount of feed in a way that prevents waste.
The market is highly competitive, with several well-established manufacturers and new players entering the market regularly. Many of these businesses concentrate on certain market niches, such as large-scale horse breeding operations or small-scale hobby farmers.
Advances in technology have also led to the development of more durable and efficient feeders. This has further increased the demand for horse bunk feeders. With technological advancements, manufacturers have developed more developed options such as self-feeding feeders and feeders that can be controlled remotely. Additionally, certain manufacturers offer custom-built feeders that are designed to meet the specific needs of individual horse owners and breeders.
| Attributes | Details |
|---|---|
| Horse Bunk Feeder Market Value (2023) | USD 590 million |
| Horse Bunk Feeder Market Expected Value (2033) | USD 1,108 million |
| Horse Bunk Feeder Market Projected CAGR (2023 to 2033) | 6.5% |
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Historical Period (2016 to 2022)
| Attributes | Details |
|---|---|
| CAGR | 5.8% |
| 2016 Value | 394.6 million |
| 2022 Value | 554 million |
The market has grown and evolved over time as technology and understanding of horse nutrition have advanced. In the past, horse bunk feeders were relatively simple and basic in design. Now, however, with the advancement of technology and research in horse nutrition, horse bunk feeders have become more refined. Certain feeders offer more advanced features such as self-dispensing technology, adjustable feed flow settings, built-in cameras and monitoring systems, anti-tip designs and so on. The market has also grown as the interest in horseback riding has increased.
Forecast Period (2023 to 2033)
| Attributes | Details |
|---|---|
| CAGR | 6.5% |
| 2023 Value | 590 million |
| 2033 Value | 1,108 million |
The future prospects of the market are likely to be positive as the demand for horse feeders is expected to increase during the forecast period. The increasing popularity of horseback riding and horse ownership coupled with the growing awareness of the importance of proper nutrition for horses are expected to drive the market growth. In the upcoming years, manufacturers are likely to develop more advanced horse bunk feeders with features such as automation, remote monitoring and data collection capabilities. Moreover, the increasing awareness about animal welfare is also anticipated to drive market growth.
These factors are anticipated to support about a 1.9X increase in the horse bunk feeder market between 2023 and 2033. According to FMI analysts, the market is projected to be worth USD 1,108 million by the end of 2033.
Several important factors that have been discovered are expected to lead to a large expansion of the global market throughout the projected period. In addition to market-shaping variables, FMI researchers examined alluring possibilities and limiting aspects that are likely to affect the sales of horse bunk feeders.
Market Drivers: The market is driven by several factors including:
Market Restraints: Certain potential restraints for the market include:
Market Opportunities: Key opportunities of the market include:
Principal Consultant
With the growing focus on sustainability, eco-friendly materials are becoming increasingly popular among both manufacturers and consumers. This has led to a shift in the market towards sustainable options such as plastic-free feeders made from different metals. Moreover, metal horse bunk feeders are durable and long-lasting as well as can withstand the elements better than plastic feeders. These feeders are also resistant to rust, corrosion and other forms of wear and tear.
These feeders also tend to be more secure and chew-resistant. This is important for preventing horses from getting into the feed and potentially injuring themselves. Furthermore, metal bunk feeders are weather resistant and can survive dangerous weather conditions like heavy rain and extreme heat. Horse breeders also prefer these metal feeders since they are easy to clean and disinfect. This is crucial for marinating good hygiene and preventing the spread of disease.
The direct sales segment dominated the market in 2022 and is likely to maintain its position during the forecast period. Direct-to-customer sales are more profitable than retail sales for horse bunk feeders for several reasons:
| Country | United States |
|---|---|
| Market Share (2022) | 30.7% |
| Market Value (2022) | USD 170 million |
| Country | Germany |
|---|---|
| Market Share (2022) | 19.9% |
| Market Value (2022) | USD 110.1 million |
| Country | United Kingdom |
|---|---|
| Market Share (2022) | 9.8% |
| Market Value (2022) | USD 54.3 million |
| Country | China |
|---|---|
| Market Share (2022) | 9.4% |
| Market Value (2022) | USD 52 million |
| Country | Japan |
|---|---|
| Market Share (2022) | 3.9% |
| Market Value (2022) | USD 21.7 million |
| Country | India |
|---|---|
| Market Share (2022) | 3.9% |
| Market Value (2022) | USD 21.5 million |
A sizeable portion of the equine sector is found in the United States. As it offers a balanced diet and crucial elements for their health and performance, feeding feeds and grains to horses is a widespread practice among horse owners. Slow feeders have been more prominent in the nation over the past few years. The American Horse Council estimates that the horse business generates USD 122 billion in revenue. To assure durability and safety, manufacturers in the United States are creating feeders from eco-friendly materials.
The United States horse bunk feeder market is growing steadily as more people are becoming interested in horse breeding and owning horses for leisure. The market is highly competitive, with the existence of many key companies in the market. They offer similar products at different price points. Manufacturers in the country also offer custom-made feeders to cater to the specific needs of horse owners.
A huge financial industry in the United Kingdom is the equestrian industry. The sector offers a broad array of services, such as horse racing, breeding, exhibition, and recreational pursuits like riding, pulling a carriage, and trekking. Furthermore, horse ownership and breeding are becoming increasingly popular across the nation. Different types of bunk feeders, including hay feeders, hay racks, and hay nets, have seen an increase in popularity in recent years.
Europe is renowned for being one of the world's top environmentally conscious countries. Horse owners are becoming more aware of the materials in the products they buy for their horses. As a result, several producers are now providing feeders made of recycled materials or employing more environmentally friendly production techniques. Additionally, the government's existing rules and directives for horse feeding have an impact on the market. With a CAGR of 7.0%, the United Kingdom horse bunk feeder market is therefore predicted to reach USD 106.5 million by 2033.
Given the increasing popularity of equestrian sports like horseback riding, the market in Germany is a niche but expanding business. With over 2 million horses and ponies kept for leisure and competition, Germany is home to a sizable equestrian sector. Owing to this, there is a demand for premium horse feeders that can effectively and efficiently provide feed.
The market is maturing since discretionary income is booming in the country and equine nutrition and well-being are becoming widely understood. The key players in the German horse bunk feeder market offer feeders that are designed to slow down the rate of eating, helping to reduce the risk of choking and colic in horses.
Chinese horse bunk feeder market is relatively small but is growing rapidly at present as more people are becoming interested in horse breeding. Horse breeding in China has traditionally been focused on producing strong workhorses. However, in recent years, there has been a growing interest in equestrian activities like horse racing and show jumping. This is one of the primary factors propelling the market's expansion in China. The market is therefore anticipated to reach USD 86.4 million by 2033, reflecting a CAGR of 5.2%.
To enhance the nation's overall sporting prowess and promote tourism, the Chinese government has also been encouraging equestrian sporting events. This has caused additional equestrian centers to be built and the proportion of horses in China to rise. Horse bunk feeder demand has grown as a result of both of these events. The expanding e-commerce industry in China is also having an impact on the market for horse bunk feeders. Owing to an increase in Chinese customers using the internet to buy products and services, sales of horse bunk feeders online have been rising over the past several years.
In comparison to other horse goods or services, the market in Japan is rather limited. A committed group of horse owners and trainers still places a high value on the health and welfare of their equine companions and is prepared to spend money on high-quality feeds. The Japanese Thoroughbred, a type renowned for its speed and endurance, is one of several horse breeds that can be found in Japan. These horses are frequently employed in the lucrative Japanese horse racing business.
The Japanese horse bunk feeder market is also influenced by changes in horse ownership and the horse racing industry. The number of horse owners has been steadily decreasing in recent years. This has led to a decline in the overall demand for horse feeders. However, the popularity of horse racing and other equestrian sports has been increasing, which has helped to offset this decline. The market in Japan is dominated by domestic manufacturers, with the presence of a few international manufacturers.
The Indian horse bunk feeder market is growing significantly when it comes to CAGR. Horse breeding and ownership are a tradition in India, with horses being used for transportation, farming, and sports such as horse racing. The market is therefore driven by the increasing popularity of horse sports as well as a growing number of equestrian clubs and training centers in the country. Horse racing is a popular sport in India and has a rich history dating back to the 18th century.
Horse racing as a sport is governed by several organizations throughout the year. This has led to an increase in the number of horse breeders and owners in the country. This, in turn, has increased the demand for horse bunk feeders as these can feed multiple horses at a time. Numerous businesses in India produce and distribute horse bunk feeders despite the industry's low magnitude. Therefore, a valuation of USD 44.8 million is projected for the Indian market by 2033, with a CAGR of 7.6%.
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Throughout the projection period, start-ups in the horse bunk feeder industry are anticipated to see new opportunities. This is a result of the rise in demand from horse breeders and owners who are looking for less expensive alternatives to conventional feeding methods.
SmartPak - This start-up specializes in equine health and nutrition products. It is known for its equine supplement feeding system which includes the SmartPak Supplement Feeding System, the Equine Medication Safety System and the CustomPak. SmartPak also provides different horse feeders including bunk feeders, hay feeders, slow feeders and more.
Horse Feeders Unlimited - This company is well-known for its high-quality and durable feeders made of heavy-duty materials. Apart from bunk feeders, it also offers slow feeders, hay feeders and others.
Leading Manufacturers and their Recent Important Market Developments
Tractor Supply Company is a retail chain that specializes in providing products for agriculture, livestock, equine and pet care. In the livestock industry, it offers feeders, waterers, fencing, health supplements, grooming products, stall equipment and others.
In January 2023, the chief and recent distribution center of Tractor Supply Company, which is situated in Navarre, Ohio, officially opened. The Navarre distribution facility will fulfil online orders for clients in Ohio, Michigan, Minnesota, and other states in the Upper Midwest while supplying around 250 retailers. Beginning in May 2021 and ending in December 2022, construction on the 900,000-square-foot structure.
AGI (Ag Growth International) is a multinational manufacturer of farm and commercial agricultural equipment and solutions founded in Canada. As a well-known equipment producer in the world's agriculture business, AGI has over 35 distinct brand names. It offers different equipment for both crop and livestock farming. It operates on five different platforms: food, feed, fertilizer, grain and seed.
In December 2022, Ag Growth International Inc. (AGI Inc.) and Ada Manufacturing Corporation (ADAMCO) announced a new distribution arrangement. ADAMCO has more than 30 branches and outlets, making it the prime agricultural machinery dealer in the Philippines.
The global horse bunk feeder market value could be near USD 590 million in 2023.
Production of horse bunk feeders in India is forecasted to grow at 7.6% CAGR through 2033.
The United States leads the horse bunk feeder sales and had 30.7% global market share in 2022.
Consumer preference for plastic-free materials have increased the sales of this segment.
Germany, with a global market share of 19.9% dominates the Market in Europe.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.2. Metal 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Length 6.1. Below 5 Feet 6.2. 5 - 10 Feet 6.3. 10 Feet 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Direct Sales 7.2. Retail Sales 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Farm Ranch Store 16.2. Priefert Manufacturing 16.3. Runnings Inc 16.4. AGI Products 16.5. Tractor Supply 16.6. Behlen Country 16.7. Behlen Mfg. Co. 16.8. hutchison-inc.com 16.9. FeedsForLess.com 16.10. Tarter 17. Assumptions & Acronyms Used 18. Research Methodology
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Horse Bunk Feeder Market
