Market Overview:
The global crop agricultural insurance market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for food crops, cash crops, and other applications across the globe. In addition, the increasing awareness about crop insurance among farmers is also contributing to the growth of this market. On the basis of type, natural disasters are expected to dominate the global crop agricultural insurance market during the forecast period from 2018 to 2030. This can be attributed to frequent occurrences of natural disasters such as floods and droughts that lead to significant losses in crops every year.
Product Definition:
Crop Agricultural Insurance is a type of insurance that helps farmers protect their crops from damage or loss. This type of insurance can help farmers recover financially if their crops are damaged or destroyed.
Natural Disaster:
Natural disaster is an act of God, caused by nature such as flood, earthquake, drought or fire. Natural disasters are not covered under any insurance plan and are also not the responsibility of the insurer. However, they can be considered as one of the risk factors that determine premium rates for crop insurance policies.
Non-natural Disaster:
Non-natural disaster is an event that occurs in a normal agricultural year, such as hailstorms, floods, drought or pest attacks. These events are not caused by natural calamities such as earthquakes or cyclones. The major factor contributing to the growth of non-natural disasters is climatic variation induced by changes in atmospheric composition due to human activity.
Crop insurance provides protection against risks associated with variations in yield and prices between seasons.
Application Insights:
The global crop agricultural insurance market is segmented on the basis of application into food crops, cash crops, and other crops. The other category includes horticultural products like floriculture and viticulture. The food crop segment held a major share in 2016 as a result of high demand for cereals such as maize, wheat & barley across the globe.
Cash crops are generally more susceptible to natural disasters such as hailstorms or floods than are food grains or horticultural products. However, due to their commercial nature they attract higher premium rates than do normal farmlands owing to increased risk exposure associated with them during adverse weather conditions.
Regional Analysis:
Asia Pacific dominated the global crop agricultural insurance market in 2017. Asia Pacific is a major exporter of food grains and a significant importer of oilseeds. The region has been witnessing increasing demand for insurance services to protect its agrarian economy from hazards such as drought, floods, cyclones, and blights.
The growing population coupled with rising disposable income is expected to increase the demand for food grains over the forecast period in Asia Pacific.
Natural disasters have always been one of the biggest threats faced by farmers across emerging economies including India.
Growth Factors:
- Increasing demand for crop insurance from farmers due to increasing awareness about the benefits of crop insurance.
- Government initiatives and subsidies for crop insurance that are encouraging the adoption of crop insurance by farmers.
- Rapid technological advancements in the agricultural sector that are helping farmers adopt new technologies and improve their productivity, which is resulting in increased losses from natural calamities.
- Growing concerns among farmers about climate change and its impact on agriculture, which is driving them to purchase crop insurance as a risk mitigation measure.
Scope Of The Report
Report Attributes
Report Details
Report Title
Crop Agricultural Insurance Market Research Report
By Type
Natural Disaster, Non-natural Disaster
By Application
Food Crops, Cash Crops, Other
By Companies
PICC, Zurich (RCIS), Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, Sompo International (Endurance Specialty), CUNA Mutual, Agriculture Insurance Company of India, Tokio Marine, CGB Diversified Services, Farmers Mutual Hail, Archer Daniels Midland, New India Assurance, ICICI Lombard
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Crop Agricultural Insurance Market Report Segments:
The global Crop Agricultural Insurance market is segmented on the basis of:
Types
Natural Disaster, Non-natural Disaster
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Crops, Cash Crops, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PICC
- Zurich (RCIS)
- Chubb
- QBE
- China United Property Insurance
- American Financial Group
- Prudential
- XL Catlin
- Everest Re Group
- Sompo International (Endurance Specialty)
- CUNA Mutual
- Agriculture Insurance Company of India
- Tokio Marine
- CGB Diversified Services
- Farmers Mutual Hail
- Archer Daniels Midland
- New India Assurance
- ICICI Lombard
Highlights of The Crop Agricultural Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Natural Disaster
- Non-natural Disaster
- By Application:
- Food Crops
- Cash Crops
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Crop Agricultural Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Crop Agricultural Insurance is a type of insurance that helps farmers and ranchers protect their crops and livestock from natural disasters. The policy can cover losses due to weather conditions, pests, or disease.
Some of the key players operating in the crop agricultural insurance market are PICC, Zurich (RCIS), Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, Sompo International (Endurance Specialty), CUNA Mutual, Agriculture Insurance Company of India, Tokio Marine, CGB Diversified Services, Farmers Mutual Hail, Archer Daniels Midland, New India Assurance, ICICI Lombard.
The crop agricultural insurance market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Crop Agricultural Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Crop Agricultural Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Crop Agricultural Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Crop Agricultural Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Crop Agricultural Insurance Market Size & Forecast, 2018-2028
4.5.1 Crop Agricultural Insurance Market Size and Y-o-Y Growth
4.5.2 Crop Agricultural Insurance Market Absolute $ Opportunity
Chapter 5 Global Crop Agricultural Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Crop Agricultural Insurance Market Size Forecast by Type
5.2.1 Natural Disaster
5.2.2 Non-natural Disaster
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Crop Agricultural Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Crop Agricultural Insurance Market Size Forecast by Applications
6.2.1 Food Crops
6.2.2 Cash Crops
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Crop Agricultural Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Crop Agricultural Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Crop Agricultural Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Crop Agricultural Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Crop Agricultural Insurance Market Size Forecast by Type
9.6.1 Natural Disaster
9.6.2 Non-natural Disaster
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Crop Agricultural Insurance Market Size Forecast by Applications
9.10.1 Food Crops
9.10.2 Cash Crops
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Crop Agricultural Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Crop Agricultural Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Crop Agricultural Insurance Market Size Forecast by Type
10.6.1 Natural Disaster
10.6.2 Non-natural Disaster
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Crop Agricultural Insurance Market Size Forecast by Applications
10.10.1 Food Crops
10.10.2 Cash Crops
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Crop Agricultural Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Crop Agricultural Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Crop Agricultural Insurance Market Size Forecast by Type
11.6.1 Natural Disaster
11.6.2 Non-natural Disaster
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Crop Agricultural Insurance Market Size Forecast by Applications
11.10.1 Food Crops
11.10.2 Cash Crops
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Crop Agricultural Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Crop Agricultural Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Crop Agricultural Insurance Market Size Forecast by Type
12.6.1 Natural Disaster
12.6.2 Non-natural Disaster
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Crop Agricultural Insurance Market Size Forecast by Applications
12.10.1 Food Crops
12.10.2 Cash Crops
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Crop Agricultural Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Crop Agricultural Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Crop Agricultural Insurance Market Size Forecast by Type
13.6.1 Natural Disaster
13.6.2 Non-natural Disaster
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Crop Agricultural Insurance Market Size Forecast by Applications
13.10.1 Food Crops
13.10.2 Cash Crops
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Crop Agricultural Insurance Market: Competitive Dashboard
14.2 Global Crop Agricultural Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 PICC
14.3.2 Zurich (RCIS)
14.3.3 Chubb
14.3.4 QBE
14.3.5 China United Property Insurance
14.3.6 American Financial Group
14.3.7 Prudential
14.3.8 XL Catlin
14.3.9 Everest Re Group
14.3.10 Sompo International (Endurance Specialty)
14.3.11 CUNA Mutual
14.3.12 Agriculture Insurance Company of India
14.3.13 Tokio Marine
14.3.14 CGB Diversified Services
14.3.15 Farmers Mutual Hail
14.3.16 Archer Daniels Midland
14.3.17 New India Assurance
14.3.18 ICICI Lombard
