Global Crop Insurance Market 2024-2028
The crop insurance market is forecasted to grow by USD 14.62 bn during 2023-2028, accelerating at a CAGR of 6.22% during the forecast period. The report on the crop insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by extreme weather conditions due to global warming, rise in government support for crop insurance, and expansion of crop insurance product lines.
Technavio's crop insurance market is segmented as below:
By Product
- Indemnity-based
- Index-based
By Type
- Crop yielded insurance
- Crop revenue insurance
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the digital initiatives in crop insurance as one of the prime reasons driving the crop insurance market growth during the next few years. Also, consolidation in the crop insurance sector and growing adoption of climate index insurance will lead to sizable demand in the market.
The report on the crop insurance market covers the following areas:
- Crop insurance market sizing
- Crop insurance market forecast
- Crop insurance market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading crop insurance market vendors that include Agriculture Insurance Co. of India Ltd., Allianz SE, American International Group Inc., Aon plc, AXA Group, Bajaj Finserv Ltd., Chubb Ltd., Everest Re Group Ltd., Hannover Re, ICICI Bank Ltd., Indian Farmers Fertiliser Cooperative Ltd., MARSH LLC, Munich Reinsurance Co., QBE Insurance Group Ltd., Reliance Industries Ltd., Sompo Holdings Inc., State Bank of India, Sundaram Finance Ltd., Swiss Re Ltd., and Willis Towers Watson Public Ltd. Co.. Also, the crop insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.