Get more info on this report! The U.S. Equine Market: Feed, Health Care and Services for Horses

August 1, 2009

There are approximately 10.5 million equines in the United States, which are used primarily for recreation and entertainment. These horses are responsible for generating over $40 billion per year in spending.

In this one-of-a-kind report, we examine:

• The Horses: The life of a horse (and the amount of money spent on it) is dramatically different based upon its function. Unlike the majority of dogs and cats, only 7 million of the nation’s 10.5 million horses are considered “pets” or companion animals. This report is the first to dissect the horse population by function, and examine each segment individually.

• The People: This report scrutinizes horse owners by riding discipline, so that readers can make informed decisions about advertising and marketing based upon the specific demographics of horse owners. However, in many cases the owner is not the person making feeding and care decision, rather it is the trainer or boarding facility manager. This report explains how marketers can understand and influence these key decision makers.

Equines, regardless of their use and value, have basic ongoing needs and often require special services, which we explore in The U.S. Equine Market: Feed, Health Care and Services for Horses:

• The report examines the top health products companies, as well as second-tier companies. It also takes a look at two significant product categories—de-worming and ulcer prevention & treatment. Two of the leading parasitologists in the world offer their opinions on what is now considered to be the most critical issue facing horse owners, caretakers, and marketers: ineffective parasite-control products.

• Equine feeding is examined, starting with the two market leaders, Purina and Nutrena, and then delving into the regional feed mills. This report also examines hay and hay replacement products and their impact on the shrinking grain

concentrates market. Opinions from leading equine nutritionists on equine feeding, including supplements, forage, and concentrates are included.

• Largely unregulated, equine services range from necessary (vaccines and hoof care) to frivolous (acupuncture, massage, chiropractic). Other services, such as equine dentistry, are rapidly becoming mainstream as more owners and trainers recognize the importance of proper toothcare in horses.

Current and future trends are analyzed, with an eye on the current economic situation. With each horse costing upwards of $2,000 per year, on average, to maintain, The U.S. Equine Market: Feed, Health Care and Services for Horses addresses what impact the sagging economy will have upon the equine market, and what strategies marketers can employ to retain, if not expand, their market shares.

Report Methodology

The information contained in this report was obtained from primary and secondary research spanning nine months. Primary research entailed interviews with market participants and knowledgeable observers in the various segments, as well as interviews with the major (and minor) breed associations and over a dozen rider associations. Packaged Facts also visited feed stores and went to equine events sponsored by healthcare and feed companies. We interviewed equine veterinarians, farriers, dentists, and massage therapists. We even interviewed a couple of horse transporters. We spoke to clinicians, barn managers, trainers, agriculture inspectors, the USDA and agricultural departments on the state level. We even interviewed plant managers at feed mills. In total, almost 100 telephone and in-person interviews were conducted.

Secondary research included information- and data-gathering from relevant consumer business and trade publications including: The Horse, Horse-Journal.com, Feedstuffs, Tack ‘n Togs, EQUUS, Practical Horseman, Horse & Rider, Horse Illustrated, Western Horseman, Natural Horse, Equine Wellness, Stable Management, Hay and Forage Grower, GrainNet, Feed Management, AllAboutFeed.net, Veterinary Practice News, DVM News, Journal of Veterinary Science, Veterinary Forum, and JAVMA. New product announcements and advertising were of exceptional interest, and readership poll data from online subscribers to The Horse proved to be invaluable as an up-to-the-minute barometer on equine caregivers’ opinions and practices.

We obtained direct-mail pieces from equine veterinarians in an effort to determine what company is mailing what. Extensive reviews of companies’ websites and marketing materials were conducted in order to compile product information.

This report also includes 2009-2010 National Pet Owners Survey data made available to Packaged Facts on an exclusive basis by the American Pet Products Association (formerly the American Pet Products Manufacturers Association, prior to its name change in 2008). The 2009-2010 National Pet Owners’ Survey was expanded to include 280 statistically relevant in-depth interviews with horse owners across the United

States. It is the most current and up-to-date survey of its kind, and a must-have for any company involved in equine products and marketing. Brakke Consulting and Fountain AgriCounsel LLC also provided valuable information for use in this report.

We also incorporated information from The American Horse Council’s landmark study, released in 2005.

Table of Contents

Chapter 1: Executive Summary

Scope of Report

Report Methodology

Introduction

History of the Horse

A $100 Billion Impact in 2003

In 2008, the Perfect Storm began

Growth Projection to 9.3 Million Horses in 2010

Where the Opportunities Lie

Sources of Information for Equine Owners

Figure 1-1: Information Sources

The Feed Marketers

Figure 1-2: Company Shares of the Equine Grain and Concentrates Segment of the Feed Market, 2009

Regional Mills: A Force to be Reckoned With

Figure 1-3: Locations of Regional Feed Companies in North America

Where Hay Fits in

Supplements Also Face Harsh Criticism

Hay: The New Competition

Beyond 2009

Equine Health Marketers Face Similar Competitive Threats as Feed

Table 1-1: Growth Rates, by Company, 2007-2008

Colic and GI Issues Number One Concern Among Horse Owners

De-Worming Products

Figure 1-4: Leading Equine Health and Nutrition Products Purchased at Retail, 2007

Brakes put on Deworming Market Growth

Competition from “Natural” Worming Products

The Ulcer Treatment Category also faces intense Competition from Natural Products as well as Alfalfa Hay

Antacids

Herbs Heal Ulcers

Generic Omeprazole

Alfalfa hay: Simple and Inexpensive Ulcer Protection

The Health Care Competitive Landscape

Table 1-2: Post-Merger Sales, Based Upon 2008 Sales (in $ millions)

The Middlemen: Veterinary Supply Companies Servicing Equine Veterinarians

Table 1-3: Veterinary Supply Companies, Ranked by Revenues, 2008-2009

Equine Services, a $13 Billion-Plus Market

Figure 1-5: Equine Services, Shown as Shares of Total Services Category, 2009

Over 40% of horse owners rely on their vet for health information

Farriers, and Other Hoof Care Professionals, are Often Overlooked by Marketers

Dental Care Becoming Routine

Table 1-4: Poll: “How often do you have your horse's teeth floated?”

Horse Trainers: Key Influencers

The Economy

Horse Supply and Demand

There is Some Good News

Opportunities in repair of large-ticket items

Figure 1-6: New Horse Trailer Purchase Plans, Poll: “Will you purchase a new horse trailer in the next year?”

Horsemanship is a Lifestyle

Chapter 2: The Horse Population Introduction

The Equine Population in the US: 7.3 Million are Considered Pets

Figure 2-1: Number of Horses and Ponies in the United States, Inventory, 2002

Figure 2-2: Number of Horses and Ponies in the United States, Inventory, 2007

Between 10 and 13 Million Horses in the United States

The Perfect Storm

40% of Respondents Reduced their herds in 2008

Growth Projections

Figure 2-3: U.S. Horse Population Growth, 1985-2012E (in millions)

State-by-State Analysis

Texas: Almost One Million Horses

Texas Horse Incentive Fund Bill Signed by Texas Governor

California: 0ver 700,000 Horses

Florida: 500,000 Equines and Growing

Table 2-1: Top Three States’ Equine Population Growth, 2003-2009

Other Key States: Oklahoma, Kentucky, Ohio, and Missouri

Table 2-2: Breeding Statistics, by State, 2007

Horses, by Use

Table 2-3: U.S. Horse Population, by Use (in millions)

Figure 2-4: Horse Population, by Use, 2009 (as a percent of total)

How are Horses Used?

Horse Population, by Breed

Quarter Horses: America’s Choice

Figure 2-5: Quarter Horse Registrations, 2003, 2007, 2008, 2012E Racing Thoroughbred Headcount Overstated by 100%

Health of the Thoroughbred Industry

Figure 2-6: Thoroughbred, Price Per Yearling, 1998-2008

Table 2-4: Average/Median Price Per Yearling, 1990-2008

2009 Foal Crop lowest since 1997

Figure 2-7: Annual North American Registered Thoroughbred Foal Crop, 1999-2009

The American Paint Horse: New registrations decrease by 45%

Still, there are about 600,000 Paint Horses in the U.S.

Figure 2-8: Paint Horse Registrations, 2003, 2007, 2008, 2012E

Figure 2-9: U.S. Horse Population, by Breed, 2009 (percent and in millions)

Data Discrepancies Abound

Figure 2-10: Horse Ownership, Types of Horses Owned (% of total mentions)

“Other” Horses Comprise About 40% of the US Population

Gaited Horses: One million horses, and 35 different breeds

Mustangs

Growth Despite Lower Registrations

Boutique Horses are a Viable Marketing Opportunity

Where are All These Horses Kept?

Figure 2-11: Horse Boarding vs. Keeping at Home, 2006

Unwanted Horse Coalition Survey: Over 20,000 interviews with Horse Owners!

Horses and acreage

Table 2-5: Poll: “How many acres are there where your horse lives?”

Figure 2-12: Horse Acreage

Chapter 3: Horse Owners and Caretakers The American Horse owner

She’s 47 and Married and Owns a Single-Family Home

Figure 3-1: Income Level of Horse Owning Households

3.9 Million Households Owned Horses in 2008

Figure 3-2: Trended Pet Ownership as a Percent of the U.S. Household Population

Figure 3-3: Number of U.S. Households That Own a Pet versus the Number of U.S. Households That Own Equine (in millions)

Figure 3-4: Number of Horses Owned by Tenure, Presence of Children, Primary Product Purchaser

Figure 3-5: Horse Ownership

Horse owners by Segment

Professional Owners

Recreational horse owners

Figure 3-6: Number of Events Participated in During the Past 12 Months

Casual and Intensive Recreational Owners

Figure 3-7: The Equine Market Segment Overview

Horse owners by Discipline

Western Disciplines

Reining: Interest and Spending Surges: What Recession?

Roping

Roper Demographics

Figure 3-8: Demographics of USTRC Team Ropers, by Age and Gender Characteristics (percent)

Figure 3-9: The Stereotypical USTRC Team Roper

Barrel Racing

Barrel Racer demographics

Cutting

Cutter Demographics

Team Penning

Team Penner Demographics

Ranch versatility events

Trail Riding: The largest number of participants!

Trail Riding is family-oriented, and often FREE

Trail Rider Demographics

What About Endurance Riding?

English Disciplines

Dressage

Dressage Rider Demographics

Eventing

Eventer Demographics

Hunters and Jumpers

Natural Horsemanship

Sources of Information for Equine Owners

Figure 3-10: Information Sources

RFD-TV: 9.4 Million Weekly Adult Impressions

Chapter 4: Equine Feed Products and Companies A $9 Billion Industry

Feeding Defined

No Grains or Concentrates

The Costs of Feeding Horses

Figure 4-1: Dollars Spent Feeding Horses in the United States, 2008-2009

Equine Feeding, One of the Top Two Annual Expenses

Figure 4-2: Items Currently Owned, Amount Spent for Items in the Past 12 Months

The Companies Don’t Divulge Information

Figure 4-3: Company Shares of the Equine Grain and Concentrates Segment of the Feed Market, 2009

Table 4-1: Two Industry Leaders, at a Glance

Florida Market Analysis

Top Five Companies Control 75% of Florida’s Market

Table 4-2: Volume Share of Equine Feed in Florida Market, by Manufacturer, 2008

Figure 4-4: Volume Share of Equine Feed in Florida, 2008

The Producers

Land O’Lakes Purina Feed

The Acquisition in 2001

History

The Parent, Land O’Lakes

Figure 4-5: Land O’Lakes Revenue, by Segment, 2008 (in $ billions)

Feed Segment Reorganized in 2008

Feed Mills Operating Below Capacity in 2008

The Products and Brands

Lifestyle Feed Brands

Feed Division (LOL/Purina) Financials

Table 4-3: Purina (Land O’Lakes Feed Division) Net Sales, 2004-2009E (in $ millions)

Figure 4-6: Purina (Land O’ Lakes Feed Division) Revenue, 2004-2009 (in $ billions)

2009 Outlook for Land O’ Lakes and Purina

Sales Suffering at Land O’Lakes, but 2009 Earnings up 35%

Purina Mills Horse Business Group

Purina is About Education

Purina Market Share Steady

Purina Mills Products and Brands: Strategy remains Purina’s #1 Product

Strategic Strategy Ads

Horseman’s Edge # 2

Equine Senior: #1 in Senior Feed

Ultium: Breakfast of Champions

Purina offers Free Feeding Trial for One Horse

New Product Line: WellSolve

Competition to WellSolve

A note about the Research for WellSolve L/S and Special Needs Horses

About One Half of Purina Dealers Stock WellSolve

Price is Top of the Line

Unique Full Scoop Formula for Weight Control

Marketing WellSolve to Veterinarians

Production and Distribution

The Role of the 850 Local Cooperatives

Sales, Marketing and Advertising

Research and Development: Over $13 million Spent in 2008

Competition, According to Purina

Farnam Platform: Made by Purina

Farnam Platform and Tractor Supply

Platform: Uphill Battle

Two-Stop Shopping

Cargill

Cargill and Nutrena, a Rich History of Acquisitions

Cargill Financials

Table 4-4: Cargill Finances at a Glance

Cargill is the Largest Privately Held Company in the United States

Closing Feed Plants

Products and Brands

Nutrena is the Brand Leader in Equine Feed in the United States

Nutrena SafeChoice: Competes with WellSolve L/S at half the price

Nutrena LiteBalance Competes with WellSolve W/C at half the price

EnergX: Revolutionary Oat-Replacement Product

Figure 4-7: Glycemic Index When Fed at Equal Energy Levels

Cargill’s Other Brands: ACCO, Agway, Prime Quality

Sales and Marketing

Team Nutrena

Nutrena Partners With Chris Cox in 2009

Nutrena R&D, not exclusively equine

Nutrena’s Focus is Nutrients not Ingredients

Do ingredients REALLY matter?

Take Home Message to Equine Feed Consumers: Buyer Beware

Nutrena Targets Horse Owners Concerned About Safety

Nutrena’s Competition

Second-Tier Companies Battle for Market Position Behind Purina and Nutrena

Manna Pro and Walmart

The Company

Calf-Manna: Not Just for Calves

Manufacturing and Distribution

Equine Product Line

Mars, Inc.

Buckeye

Seminole Feed, Mars Horsecare team up

Major Marketing Push in the United States

Three Senior Feeds from Buckeye

Hay Replacement Products

Doane Petcare Purchase

Cavalor: New Feed Introduced in the United States

The Products

Ultium’s New Rival is Cavalor

Regional Mills: National Influence

Over 100 Different Brands Recommended by Veterinarians

Figure 4-8: Locations of Regional Feed Companies in North America

The Southeast Market

Seminole: A Regional Company with National Reputation

The Products

Retail Store Personnel “SOLD” on Seminole

National Expansion and Public Offering?

OBS: Ocala Breeders’ Supply Snares 11% of the Florida Market

Southern States, a Virginia-based Farmers’ Cooperative

Growth Via Acquisitions

Southern States’ Equine Focus

Products and Brands

Legends is the #1 Southern States Brand

Southern States Offers “No Cost Feeding Trials”

Southern States Partners with Triple Crown

Senior Feed, #3 in Veterinarian Survey

Triple Crown Educates Consumers about Companies Using “Least Cost Formulation”

Regional Companies Own Ohio

Kalmbach Feeds, since 1963, Upper Sandusky, OH

Tiz Whiz

TDI: Another Ohio-based Premium equine feed company that uses a Fixed Formula

Pennfield Equine Feed Technologies: Premium Fixed-Formula

Kentucky Equine Research

Focus on Nutrition of the Performance Horse

Distribution

Tractor Supply

Figure 4-9: Tractor Supply 2008 Segments, as Percent of Total Sales

Vendors and Distribution Network

Growth Opportunities for Feed Companies: Equine Disorders and Diseases

Obese/Overweight Horses: As high as 51%

Natural Grazing vs. Overfeeding, Which is the Culprit

Insulin-Resistant Horses

Equine Polysaccharide Storage Myopathy (EPSM)

Feed Grass (or hay), as nature intended

Explosion in New Feed Choices

Throwing Supplements Away

Figure 4-10: Share of U.S. Retail Sales of Pet Supplements and Nutraceutical Treats by Animal Type, 2004 vs. 2007 (percent)

Figure 4-11: Share of U.S. Retail Sales by Animal Type and Category: Pet Supplements vs. Nutraceutical Treats, 2007 (percent)

Figure 4-12: Form of Horse Supplements Usually Used

Hay and Pasture: The Basics are Back

Hay Production

U.S. Hay Harvest and Production, 2008

Many Middlemen Involved

What else is known about Hay?

What stable hay prices mean for equine feed companies

Beyond 2009

Feed Stagnant, At Least for Now

Chapter 5: Equine Health Products and Companies

Table 5-1: Post-Merger Sales, Based Upon 2008 Sales (in $ millions)

Pre-and Post-Merger Market Shares

Figure 5-1: Pre-Merger Worldwide Market Shares

Figure 5-2: Post-Merger WW Market Shares

The New #1, Worldwide: Merck

The Merger

Merial: Steady Sales and Salesforce Structure

Steady sales growth

Salesforce Overlap

Animal Care Just a Small Portion of Merck Business

Figure 5-3: Merck Revenues, Post Merger

Merial’s Rabies Vaccine # 1 Worldwide

Consistently Steady Sales Growth

Table 5-2: Merial Sales Growth (in $ billions)

Figure 5-4: Merial Sales Growth (in $ billions)

UlcerGard and GastroGard

Over 90% of racehorses have Gastric Ulcers

Despite education, horse owners are not that concerned with Equine Ulcers!

Unpublicized Facts about Equine Ulcers

Free Scoping to Market UlcerGard

More Merial Marketing

Selling Prevention instead of a Cure

UlcerGard Ad Campaign: Stay on Guard

Non-prescription Competition for Ulcer Prevention

Antacids

Herbs Heal Ulcers

Generic Omeprazole

Alfalfa hay: Simple and Inexpensive Ulcer Protection

Figure 5-5: How Buffering Capacity of Alfalfa Hay Helps Reduce and Prevent Gastric Ulcers

New Fecal Blood Test Now Available to diagnose ulcers

Equioxx: Merial’s Breakthrough in Equine Pain Relief

Why Does Equioxx Work without Causing Ulcers?

Marketing Equioxx to AQHA Members who Train and Show

Injectible Equioxx Debut

Colic and GI Issues Number One Concern Among Horse Owners

Merial Vaccine Marketing to Vets

Merial’s Zimecterin-brand Wormer # 1 Choice

Merial’s Other Wormer Brands

Merial offers New Satisfaction Guarantee

But Renowned Parasite Experts Disagree

Intervet/Schering-Plough Animal Health: Worldwide Market Leader in Animal Health

Table 5-3: Growth Rates, by Company, 2007-2008

Intervet: Pioneer in Vaccines

Intervet: Pioneer in Customer Education

Banamine, #1 in Brand Awareness in Pain Relief

Safe Niche in Wormers, for now

Marketing

“We’re For the Horse”

Over 50% of health-conscious horse owners administer their own vaccinations

Pfizer and Fort Dodge

Fort Dodge

Pfizer

The Brands

Fort Dodge: Brand Leader in Vaccines

West Nile Innovator # 1 West Nile Vaccine

Is West Nile Still A Serious Health Threat to Horses?

The Mosquito Shot and the AQHA

Worming Products Quest and Quest Plus

Marketing and Parasite Resistance

Dewormers are the Leading Health and Nutrition Product Purchased at Retail

Figure 5-6: Leading Equine Health and Nutrition Products Purchased at Retail, 2007

Brakes put on Deworming Market Growth

Rotation vs. Education

Competition from “Natural” Worming Products

DE: Hype or Serious threat to “profitable poisons”?

New Product Development

X-Pel Natural Wormer: The Future of Equine Parasite Control?

New Product from Turkey

Patent has expired on Duddingtonia flagrans

Fecal Egg Count: A home test in development?

New Zealand Company Launches Equine Fecal Egg Count Kit

Equimax: Effective and Safe

Marketing

Second-Tier Companies

Bayer: 8% of the Animal Health Market Worldwide

Novartis Animal Health: 6% market share in animal health

Novartis History

A New Class of Unique Wormers (AADs) Launched by Novartis

Other Companies of Note

Virbac S.A.

Figure 5-7: Virbac Sales Growth, 2005-2009E (in million Euros)

Central Garden and Pet

Background

CG&P Acquisitions

Farnam

Farnam, the #1 Brand (at retail) in OTC Horse Products

Sales are Currently Flat at CG&P

Pet Products Financials

Farnam Sales Increased, 2007-2008

Recognizable Brand Name, Website and click-thru Service

Farnam’s Wormers

IverEase Discontinued Shortly After Launch

EquiAid is a Farnam Brand

Horse Health, another “Discount” brand

Quitt: Cures Wood Chewers?

Farnam Product Line, an array second to none

W. F. Young/Absorbine: A Heritage of Innovation Since 1892

Absorbine Today

Innovative Products Fuel Demand

Stall Safe Disinfecting System

Myoplast, the European Secret, is Out

Growth by Acquisition: Equine America

One Target Market: Aging Baby Boomers

Marketing to America’s Future: Facebook and Horsegirl TV

Boehringer Ingelheim Vetmedica: Growth due to Swine not Equine

New “Joint Health Management Program” Launched April 2009

Surpass Acquired from IDEXX

Competing head to head with Merial’s Equioxx

Limited Equine Product Line

The Middlemen: Veterinary Supply Companies

Table 5-4: Veterinary Supply Companies, Ranked by Revenues, 2008-2009

Butler Animal Health

Growth via Acquisition

#1 in Equine Supply

MWI is #2 in Sales

But #1 in Customer Service

A 12% average growth rate into 2009

MWI Revises 2009 Revenue Expectations

AHI of Westlake, TX, is Catching Up

2008 Sales Up but Disappointing in 2009

Looking for “Selective” Acquisitions to become Number One

What About Webster? #2 in Companion Animal Supply

Expansion and Growth through Acquisition

Milburn Equine is Devoted to Horses

Webster Financials, 33% higher for 4Q 2009

Results of the Acquisition

Specialized Sales Force

PVPL: The Only Veterinary-Owned Distributor

Why Do Equine Vets Need so much TLC?

Chapter 6: Equine Services A $13 Billion Market

Figure 6-1: Equine Services, Shown as Shares of Total Market, 2009

Figure 6-2: Equine Health Services Shares

Veterinary Care

In the Top 10 Fastest Growing Professions

Figure 6-3: Salary Comparison, Veterinarians vs. Other Health care Professionals, 2008

Veterinarian Shortage Predicted

Table 6-1: Equine and Mixed Animal Veterinarians, 2006-2012

The AAEP

Equine Veterinarians: $2.3 billion in Direct Spending

The Role of the Equine Veterinarian

Table 6-2: The Veterinarian's Role

Table 6-3: Veterinary Expenditures, by Pet Type

Guarded Future

Products Bought Through Vets

Figure 6-4: Supplements/Medications Obtained from Your Veterinarian versus Other Retail Outlet

Marketing to Vets

Over 40% of horse owners rely on their vet for health information

Feed and Supplement marketers are not taking advantage of this phenomenon

Hoof Care

Improving Knowledge

Methods to improve your hoof-care knowledge

Table 6-4: Poll: “During the past 3 years, which of the following methods have you used to improve your hoof-care knowledge?”

Meet the Farriers

“Good Old” Backyard Horses can add up to a Billion dollars

Figure 6-5: Type of Horses Handled by Farriers

Barefoot vs. Shoes, a Hot Topic, even among Veterinarians

The Do-It-Yourself Craze Is Affecting the Equine Hoof Care Market

Barefoot year round

Table 6-5: Poll: “Excluding foals and brood mares, what percentage of horses that you provide hoof care for go barefoot year round?”

Costs of Routine Hoof Care

Figure 6-6: Charges for Hoof-Care Work, by Region

Marketing to and Through Farriers: A captive audience

Farnam and Farriers Secret

Full-time Farriers are a Valuable Marketing Opportunity

Footcare in an average day

Table 6-6: Poll: “How many horses do you provide footcare for in an average day?”

Future Farrier Facts

Dental Care

8,000 Equine Dentists in the U.S.

State Licensing for Equine Dentists

Cost of Dental Work

Dental Care is Becoming “Routine”

Table 6-7: Poll: “How often do you have your horse's teeth floated?”

Future Outlook for Equine Dental Care

Market Size Guesstimate

Other Health Services

Massage

Equinology

Equissage

Other Programs

Equine Acupuncture

Acupuncture Without Needles?

Equine Chiropractic

Training and Boarding

Figure 6-7: Amount Spent on Services in the Past 12 Months

Transportation: $3 billion and shrinking

Unregulated and Unaudited

Race Horses are no longer the Cash Cow for Transporters

Insurance

Mortality Insurance

Major Medical

Who Insures Their Horses?

Figure 6-8: Poll: “Do you buy insurance for your horse(s)?"

Pet Insurance: Part of Employee Compensation Packages

Markel and Equisure, Current Market Leaders

Figure 6-9: Markel Specialty Program Insurance, 2008 Gross Premium Volume ($230 million)

Equine Product Marketers offer Insurance

Pfizer’s PreventiCare Program

Purina May be Next

Chapter 7: Future Outlook and Trends Introduction

Unwanted Horses

The Unwanted Horse Coalition Releases its Survey Data

Survey of 128 Colorado Veterinarians

Wild Horses: 10,000 more than “acceptable” levels

How Does the BLM Work?

Slaughter

Pros and Cons to Slaughtering Horses

Some Consensus Among the Experts

Equine Slaughterhouses Return to the United States: Montana is First

On the brighter side of the unwanted horse and slaughter issues

Racetracks and the Thoroughbred Retirement Foundation Offer Solutions

Every Horse has an Owner. Every Owner Has a Responsibility

The Jockey Club Encourages Funding for Proper Retirement of Thoroughbred Horses with New Program

Companies Pitch In to Help

Horse Rescue Groups Offer Solutions

Even Elvis Presley is Helping Rescued Horses

FINALLY: No-Cost Gelding of Stallions Used For Breeding

Natural Horsemanship

Natural Equine Products

Who started this Revolution?

Parelli Natural Horsemanship is the Largest and Most Organized

Figure 7-1: Growth in Parelli “Savvy Club” Member Revenues, 2005-2008 (in $ millions)

Understanding the Revolution

Jessica Jahiel, PhD, the Voice Of Reason in the Equine Market

Senior Horses and Senior People

Table 7-1: Baby Boomers, by Age

Equestrian Communities: A Major Marketing Opportunity

The Economy

Horse Supply and Demand

There is Some Good News

Opportunities in repair of large-ticket items

Figure 7-2: New Horse Trailer Purchase Plans, Poll: “Will you purchase a new horse trailer in the next year?”

Horsemanship is a Lifestyle

A Market in Flux

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