Indonesia
English
Follow
SARGA.CO – Equestrian sports are no longer just a hobby or a racing event. The business wheel of this fast-growing industry, especially in countries with more advanced equestrian ecosystems, is spinning faster than ever—including in Indonesia.
This trend is supported by projections from Future Market Insight Inc., a consulting and market intelligence firm, which recently released a promising report on the global horse insurance market.
The global horse insurance market is projected to grow from US$666.6 million in 2025 to US$1.73 billion by 2035. Using the current exchange rate of IDR 16,320 per US dollar, the market is expected to reach IDR 28.23 trillion over the next 10 years.
With such growth, the average compound annual growth rate (CAGR) over the next decade is estimated at 10%.
The main growth centers are expected to be in emerging markets. China is projected to see a CAGR of 13.5%, driven by increasing investments in equestrian sports and luxury property ownership.
India follows closely with a projected growth rate of 12.5%, due to rising interest in equestrian activities and the adoption of rural insurance schemes.
Citing InsuranceAsia.com, the horse insurance market is also growing in developed countries. Germany is expected to see an 11.5% increase.
Meanwhile, the UK and the United States—already home to mature equestrian markets—are projected to grow at more moderate rates of 9.5% and 8.5%, respectively.
According to Future Market Insight Inc., global horse insurance market growth is driven by rising veterinary costs, higher coverage claims, and increased recognition of the financial value of horses among owners, breeders, and riders.
Another contributing factor is the growing demand for insurance products covering death, medical expenses, theft, and liability, with insurance providers tailoring their offerings to meet the diverse needs of horse owners.
In 2025, mortality insurance is expected to account for 42.7% of total market revenue, making it the largest segment by policy type.
This growth is attributed to the rising importance of insurance in protecting high-value horses—used for breeding and competition—from unexpected death.
Mortality insurance policies are increasingly popular due to clearer claims processes and broader coverage options.
Market value expected to reach US$1.73 billion by 2035
Read More
Install SARGA.CO News
sarga.co
Rekomendasi