Global Horse Insurance Market to Reach $1.73B by 2035, Driven by Emerging Markets

The global horse insurance market is forecasted to grow from $666.6 million in 2025 to $1.73 billion by 2035, registering a compound annual growth rate (CAGR) of 10.0%. Emerging markets such as China and India are expected to lead this growth due to expanding investments in equine sports, luxury ownership, and increasing rural insurance adoption. Mature markets like the UK and US will experience more moderate growth at rates of 9.5% and 8.5%, respectively.
Market growth is driven by rising veterinary costs, higher liability claims, and growing recognition of the financial value of horses among owners and breeders. There is increasing demand for insurance products covering mortality, medical expenses, theft, and liability, with mortality insurance expected to account for 42.7% of total market revenue in 2025. Mortality policies are preferred for their broad coverage and clear claims processes, particularly for high-value horses used in breeding and competition.