Crop Insurance Market is to grow by USD 14.62 billion from 2023 to 2028, market is fragmented due to the presence of prominent companies like Agriculture Insurance Co. of India Ltd., Allianz SE and American International Group Inc., and many more – Technavio
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Company Offering:
Agriculture Insurance Co. of India Ltd. - The company offers crop insurance solutions aiming to cover risks related to agriculture and allied activities.- Allianz SE - The company offers crop insurance from climate change, natural catastrophes, and a rising need for food security through its subsidiary Allianz Re
- American International Group Inc. - The company offers crop insurance under the Pradhan Mantri Fasal Bima Yojana policy through its subsidiary Tata AIG.
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Based on Geography, the market is classified as
- APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to companies is
North America . The US andCanada are the key contributors to the market in the region. According to theUnited States Department of Agriculture's Risk Management Agency , USDA Agribusiness Farmers who are currently covered by most crop insurance policies will be eligible for premium assistance fromUSDA under the Pandemic Crop Insurance Program.
Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
- Impactful driver- Extreme weather conditions due to global warming
- Key Trend - Digital initiatives in crop insurance
- Major Challenges - Low awareness of crop insurance
Market Segmentation
- Based on Product, the market is classified into indemnity-based and index-based. The indemnity-based segment is estimated to witness significant growth during the forecast period. The policyholder shall be shielded from losses incurred by crop loss through an indemnity-based insurance policy. Various governments are trying to support the adoption of
MPCI through a premium subsidy. Interest in and use of such schemes could increase when these subsidies are made available for crop insurance plans.
Related Reports
The agricultural equipment finance market size is estimated to grow at a CAGR of 5.41% between 2022 and 2027. The market size is forecast to increase by
The
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Crop Insurance Market Scope |
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Report Coverage |
Details |
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Historic period |
2018-2022 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.22% |
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YoY growth 2022-2023 (%) |
5.65 |
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Regional analysis |
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Key countries |
US, |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
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Website: www.technavio.com
SOURCE Technavio
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