Global Agricultural Insurance Sales Market Report 2023

Market Analysis and Insights: Global Agricultural Insurance Market

Agricultural insurance protects against loss of or damage to crops or livestock. It has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops. However, in practice its effectiveness has often been constrained by the difficulty of designing good products and by demand constraints.

Due to the COVID-19 pandemic, the global Agricultural Insurance market size is estimated to be worth US$ 47750 million in 2022 and is forecast to a readjusted size of US$ 68840 million by 2029 with a CAGR of 5.3% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, Crop/MPCI accounting for % of the Agricultural Insurance global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. While Bancassurance segment is altered to an % CAGR throughout this forecast period.

Global Agricultural Insurance key players include PICC, Zurich, Chubb, Sompo, QBE, etc. Global top five manufacturers hold a share about 35%.

Asia-Pacific is the largest market, with a share about 45%, followed by North America and Europe, both have a share about 50 percent.

In terms of product, Crop/MPCI is the largest segment, with a share about 75%. And in terms of application, the largest application is Agencies, followed by Brokers.

Global Agricultural Insurance Scope and Market Size

The global Agricultural Insurance market is segmented by company, region (country), by Type and by Distribution Channel. Players, stakeholders, and other participants in the global Agricultural Insurance market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Distribution Channel for the period 2018-2029.



Segment by Type


Crop/MPCI

Crop/Hail

Livestock

Others

Segment by Distribution Channel

Bancassurance

Digital & Direct Channel

Broker

Agency


By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions



By Company


PICC

Zurich

Chubb

Sompo

QBE

China United Property Insurance

Agriculture Insurance Company of India

AXA

American Financial Group

Everest Re Group

Tokio Marine

Prudential

AIG

Farmers Mutual Hail

New India Assurance

SCOR