The horse breeding industry has continued to be one of the most important industries in the world. Most notably, it supports the sporting industry in a number of ways. Part of the horse breeding industry also supports the food industry although the amount of support is rather insignificant. Based on its importance, it is perhaps time to have a critical look at the industry. Here is a detailed analysis of the horse breeding industry.
The history of the industry
The horse breeding industry has a very interesting industry which is worth reckoning with. First of all, the horses are among the earliest beasts of burden in the modern world. The asses and camels often found favor among individuals who lived in ancient times especially lands that are predominantly deserts such as North Africa and certain parts of southern Africa. Most parts of Europe and Asia generally preferred (and still) horses to asses and camels.
As early as the 14th century, horse breeding had already begun. The horse is believed to have been the first beast of burden (even the first equine animal) to have been bred using artificial methods. During the mid-1300s, artificial insemination was tried in horses.
Since then, the horse breeding industry has been characterized by a lot of research and various improvements have already been made.
Current state of the industry
It would be utterly interesting to have a look at the current horse breeding industry and how it is likely to change in the near future. The horse breeding industry is currently associated with a lot of issues. As someone who has prospects of venturing into the industry, you have to be fully aware of the issues that characterize the industry. But, it is also associated with a lot of positive features. For example, the industry’s revenue has risen sharply over the past five to six years.
During the years leading up to the recession, the industry’s growth had contracted significantly. The contraction was even more pronounced following the recession in 2008. But, the market size and profit margins for the future have since risen sharply following the end of the recession. In the recent past, profit margins have risen across the US based on a number of reasons. Most notably, it is as a result of the rise in the demand for horses and other equidae family animals. There is an increase in the number of recreational sports which involve horses.
Further, more and more people are taking a keen interest in the keeping of horses as pets. The improvement of the industry can also be attributed to the coming of advanced technologies of breeding horses. Most notably, it is now possible to produce many foals within a shorter time frame than was the case in the past. For example, the current artificial insemination methods are now able to facilitate the quick production of foals while promoting the wellbeing of the mares.
The future of the industry
It may not be quite easy to predict the future of the industry. But, there are a number of indicators on the ground that can provide a clue regarding the future of the industry. For example, there has been a recent rise in the demand for equine animals. A good number of people are now interested in owning either a horse or any equine animal for a variety of purposes including recreation, shows and as a pet.