China’s horse insurance growth to register 13.5% CAGR through 2035

India follows at 12.5%.

The global horse insurance market is projected to grow from $666.6m in 2025 to $1.73b by 2035, registering a compound annual growth rate (CAGR) of 10.0%, according to Future Market Insights, Inc.

Emerging markets are expected to drive much of the future growth. China is forecast to grow at 13.5% CAGR, led by expanding investment in equine sports and luxury ownership. 

India follows at 12.5%, supported by increasing equestrian activity and rural insurance adoption. 

Germany is expected to grow at 11.5%, whilst the UK and US are projected to see more moderate growth at 9.5% and 8.5%, respectively, due to market maturity.

Global growth is being driven by rising veterinary costs, higher liability claims, and increasing recognition of the financial value of horses among owners, breeders, and riders. 

There is also growing demand for insurance products that address mortality, medical expenses, theft, and liability, with insurers tailoring offerings to meet the varied needs of equine owners.

In 2025, mortality insurance is expected to account for 42.7% of total market revenue, making it the largest segment by type. 

This is due to its role in protecting against the unexpected death of high-value horses used in breeding and competition. 

Mortality policies have become increasingly popular thanks to clear claims processes and broader coverage options.