A Tasmanian man missing in bushland near Launceston became separated from the group he was with while trying to retrieve his bogged car, police say.

The search, taking place near the Hollybank forest reserve, entered its second day on Tuesday, with rescue crews on horseback joining the operation.

Scottsdale man Peter Willoughby, 76, was reported missing on Sunday afternoon after he became disoriented and walked into the bush, police said.

He was in the area attempting to retrieve his silver Subaru Outback station wagon, which had become bogged on a nearby road about four days prior.

"Unfortunately, he's become disoriented, he's wandered off into the bush and he hasn't been seen since," Tasmania Police Inspector Nick Clark said on Monday.

"When you've got a dense paddock of trees, it's

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