By the numbers, the horse industry is growing. The American Horse Council’s most recent national study found that the equine industry contributed $177 billion to the U.S. economy in 2023, up from $122 billion in 2017. Yet the same study counted fewer horses, about 6.6 million compared to 7.2 million six years earlier. More money moving through an industry with fewer horses is a story every seller should be paying attention to, especially since the next national study isn’t expected until 2028.
The industry is also marketing in two directions at once. At the top, major shows pitch sponsors on their audiences, with Traverse City Horse Shows promising brands a chance to reach extremely affluent and influential consumers. At the entry level, programs like USHJA Outreach and USEF Lite lower the cost of showing, and series like Faultless aim to bring the sport to mainstream viewers. In between sits the group I think matters most for the future of the market: upper-middle-class families and working professionals who love the sport but don’t have unlimited budgets.
That group can usually afford lessons, a lease, and local shows, but buying is a different story. Once riders move up to rated competition, costs climb quickly, and some in the industry are openly asking what it means when fewer people can afford to participate in the hunter/jumper world. Meanwhile, prices for proven show horses have held strong, and a made horse at the rated level easily reaches six figures. The result is that the industry is inviting people in, then pricing them out at the exact moment they’re ready to commit.
So how do these riders make it work? Many lease rather than buy, share ownership with another rider, buy younger or greener horses to develop, or stay on local circuits longer. For sellers, that’s a clear opportunity: lease programs, honest and fairly priced horses in the middle of the market, and marketing that speaks directly to these buyers. The top of the market isn’t going anywhere, but the next wave of buyers will start in the middle, and the sellers who serve them well will grow with them.
If you’re an adult amateur or a horse-show parent, how have you made the numbers work: leasing, sharing, buying young? Share your experience in the comments!
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