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Agricultural Insurance Market Trends and Forecast
The future of the global agricultural insurance market looks promising with opportunities in the multi-peril crop insurance, crop-hail insurance, and livestock markets. The global agricultural insurance market is expected to reach an estimated $48.5 billion by 2030 with a CAGR of 3.5% from 2024 to 2030. The major drivers for this market are increased use of agricultural insurance, growing demand for safeguards against losses in the agricultural industry, as well as, initiatives to educate farmers of all stripes on the value and benefits of agriculture insurance.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Agricultural Insurance Market by Segment
The study includes a forecast for the global agricultural insurance market by distribution channel, coverage, and region
Agricultural Insurance Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]:
•
Banks
• Insurance Companies
• Brokers/Agents
• Others
Agricultural Insurance Market by Coverage [Shipment Analysis by Value from 2018 to 2030]:
• Multi-peril Crop Insurance
• Crop-hail Insurance
• Livestock
• Others
Agricultural Insurance Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Agricultural Insurance Market Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies agricultural insurance market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the agricultural insurance market companies profiled in this report include-
• China United Property Insurance
• ICICI Lombard
• Chubb
• Qbe
• CUNA Mutual
• Farmers Mutual Hail
• Agriculture Insurance Company Of India
• PICC
• American Financial
Agricultural Insurance Market Market Insights
Lucintel forecast that insurance companies is expected to witness highest growth over the forecast period because of the knowledge and assets to oversee and underwrite policies in the agricultural insurance sector, as well as, to connect with farmers and other agricultural producers, they also have a large network of agents and brokers.
North America is expected to witness highest growth over the forecast period due to the growing awareness of risk management strategies and insurance packages combined with emerging economies, along with the growing investments made by regional manufacturers on technical innovations.
Features of the Global Agricultural Insurance
Market Size Estimates: Agricultural insurance market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Agricultural insurance market size by distribution channel, coverage, and region in terms of value ($B).
Regional Analysis: Agricultural insurance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different distribution channel, coverage, and regions for the agricultural insurance.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the agricultural insurance.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the agricultural insurance market size?
Answer: The global agricultural insurance market is expected to reach an estimated $48.5 billion by 2030.
Q.2 What is the growth forecast for agricultural insurance?
Answer: The global agricultural insurance market is expected to grow with a CAGR of 3.5% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the agricultural insurance?
Answer: The major drivers for this market are increased use of agricultural insurance, growing demand for safeguards against losses in the agricultural industry, as well as, initiatives to educate farmers of all stripes on the value and benefits of agriculture insurance.
Q4. What are the major segments for agricultural insurance?
Answer: The future of the global agricultural insurance market looks promising with opportunities in the multi-peril crop insurance, crop-hail insurance, and livestock markets.
Q5. Who are the key agricultural insurance market companies?
Answer: Some of the key agricultural insurance market companies are as follows:
• China United Property Insurance
• ICICI Lombard
• Chubb
• QBE
• CUNA Mutual
• Farmers Mutual Hail
• Agriculture Insurance Company of India
• PICC
• American Financial
Q6. Which agricultural insurance market segment will be the largest in future?
Answer: Lucintel forecast that insurance companies is expected to witness highest growth over the forecast period because of the knowledge and assets to oversee and underwrite policies in the agricultural insurance sector, as well as, to connect with farmers and other agricultural producers, they also have a large network of agents and brokers.
Q7. In agricultural insurance, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to the growing awareness of risk management strategies and insurance packages combined with emerging economies, along with the growing investments made by regional manufacturers on technical innovations.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the agricultural insurance market by distribution channel (banks, insurance companies, brokers/agents, and others), coverage (multi-peril crop insurance, crop-hail insurance, livestock, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Agricultural Insurance Market, Agricultural Insurance Market Size, Agricultural Insurance Market Growth, Agricultural Insurance Market Analysis, Agricultural Insurance Market Report, Agricultural Insurance Market Share, Agricultural Insurance Market Trends, Agricultural Insurance Market Forecast, Agricultural Insurance Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Agricultural Insurance Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Agricultural Insurance Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Agricultural Insurance Market by Distribution Channel
3.3.1:
Banks
3.3.2: Insurance Companies
3.3.3: Brokers/Agents
3.3.4: Others
3.4: Global Agricultural Insurance Market by Coverage
3.4.1: Multi-peril Crop Insurance
3.4.2: Crop-hail Insurance
3.4.3: Livestock
3.4.4: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Agricultural Insurance Market by Region
4.2: North American Agricultural Insurance
4.2.2: North American Agricultural Insurance Market by Coverage: Multi-peril Crop Insurance, Crop-hail Insurance, Livestock, and Others
4.3: European Agricultural Insurance Market
4.3.1: European Agricultural Insurance Market by Distribution Channel :Banks, Insurance Companies, Brokers/Agents, and Others
4.3.2: European Agricultural Insurance Market by Coverage: Multi-peril Crop Insurance, Crop-hail Insurance, Livestock, and Others
4.4: APAC Agricultural Insurance Market
4.4.1: APAC Agricultural Insurance Market by Distribution Channel :Banks, Insurance Companies, Brokers/Agents, and Others
4.4.2: APAC Agricultural Insurance Market by Coverage: Multi-peril Crop Insurance, Crop-hail Insurance, Livestock, and Others
4.5: ROW Agricultural Insurance Market
4.5.1: ROW Agricultural Insurance Market by Distribution Channel :Banks, Insurance Companies, Brokers/Agents, and Others
4.5.2: ROW Agricultural Insurance Market by Coverage: Multi-peril Crop Insurance, Crop-hail Insurance, Livestock, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Agricultural Insurance Market by Distribution Channel
6.1.2: Growth Opportunities for the Global Agricultural Insurance Market by Coverage
6.1.3: Growth Opportunities for the Global Agricultural Insurance Market by Region
6.2: Emerging Trends in the Global Agricultural Insurance Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Agricultural Insurance Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Agricultural Insurance Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: China United Property Insurance
7.2: ICICI Lombard
7.3: Chubb
7.4: QBE
7.5: CUNA Mutual
7.6: Farmers Mutual Hail
7.7: Agriculture Insurance Company of India
7.8: PICC
7.9: American Financial
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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