Market Overview:
The global food and beverage insurance market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for food and beverage products, coupled with the rising concerns over food safety and quality. In addition, the growing trend of online grocery shopping is also contributing to the growth of this market. On the basis of type, baked goods accounted for the largest share in 2017 and is expected to maintain its dominance during the forecast period. This can be attributed to their high perishability rate as well as their widespread use in various cuisines across different regions.
Product Definition:
Food and beverage insurance is a type of property insurance that covers businesses that sell food or beverages. This type of insurance is important because it can help businesses recover from losses caused by things like fire, theft, or vandalism.
Baked Goods:
Baked goods are perishable products that are produced in a bakery plant. They include bread, cakes, pastries and other baked products. The growth of the baked goods market is directly proportional to the growth of the food & beverage industry as they form an important part of it.
Beer, Wine, And Spirits:
Beer, wine & spirits are alcoholic beverages that can be insured. They are considered as non-essential products and hence the manufacturers have to pay a premium for their cover. The premium is generally based on the value of the product in case of theft or damage. The market is expected to witness growth owing to increasing demand among consumers for protection against loss or damage caused by alcohol consumption.
Application Insights:
The others application segment includes crop failure, animal disease, and labor issues in the production of crops. The food product recall/testing segment dominated the global market in 2017 owing to high incidence of contamination and product-related injuries. Food products are often consumed directly from the farm or factory without any processing or preparation; therefore, they become a source of contamination for food & beverage insurance policies.
Manufacturers¢â‚¬â„¢ errors and omissions (MEO) coverage is designed to cover losses incurred due to MEOs committed by manufacturers during manufacturing process as well as after-sales services provided by manufacturers regarding their products. Owing to stringent regulations regarding use and disposal of pesticides across various regions, crop failures are one of the major causes leading to claims settlement under MEO coverage policyholders worldwide.
Asia Pacific is projected register highest growth rate over forecast period on account with increasing demand for beverages such as tea, coffee, alcoholic drinks including beer.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position through 2030, with the U.S. being a major contributor to growth.
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period owing to increasing demand for food.
Growth Factors:
- Increasing demand for food and beverage products due to changing lifestyles and growing population.
- Rapid urbanization and increasing disposable income, which leads to the growth of organized retail sector.
- Proliferation of new food and beverage products in the market due to technological advancements and innovation.
- Stringent food safety regulations by government authorities across the globe that mandate insurance coverage for companies involved in food production, processing, storage, or distribution activities .
Scope Of The Report
Report Attributes
Report Details
Report Title
Food and Beverage Insurance Market Research Report
By Type
Baked Goods, Beer, Wine, And Spirits, Cheese Products, Coffee, Tea, And Other Drinks, Frozen Foods, Ice Cream and Frozen Desserts, Meats, Fish, And Poultry, Pet Food, Others
By Application
Food Product Recall/Testing, Manufacturer’s Errors and Omissions, Spoilage in Transit, Packaging, Others
By Companies
AXA, Allianz, Marsh, Sompo Holdings, Liberty Mutual Insurance Group, Zurich, Chubb, AIG, Aviva, Lonpac Insurance Bhd, Whitbread, Sheridan Insurances Ltd, Red Asia Insurance Agency Ltd, China Taiping Insurance Group Ltd, Aon-COFCO Insurance Brokers Co., Ltd
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
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Food and Beverage Insurance Market Report Segments:
The global Food and Beverage Insurance market is segmented on the basis of:
Types
Baked Goods, Beer, Wine, And Spirits, Cheese Products, Coffee, Tea, And Other Drinks, Frozen Foods, Ice Cream and Frozen Desserts, Meats, Fish, And Poultry, Pet Food, Others
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 Product Recall/Testing, Manufacturer’s Errors and Omissions, Spoilage in Transit, Packaging, Others
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:
- AXA
- Allianz
- Marsh
- Sompo Holdings
- Liberty Mutual Insurance Group
- Zurich
- Chubb
- AIG
- Aviva
- Lonpac Insurance Bhd
- Whitbread
- Sheridan Insurances Ltd
- Red Asia Insurance Agency Ltd
- China Taiping Insurance Group Ltd
- Aon-COFCO Insurance Brokers Co., Ltd
Highlights of The Food and Beverage 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:
- Baked Goods
- Beer, Wine, And Spirits
- Cheese Products
- Coffee, Tea, And Other Drinks
- Frozen Foods
- Ice Cream and Frozen Desserts
- Meats, Fish, And Poultry
- Pet Food
- Others
- By Application:
- Food Product Recall/Testing
- Manufacturer’s Errors and Omissions
- Spoilage in Transit
- Packaging
- Others
- 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 Food and Beverage 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.
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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?
Food and beverage insurance is a type of insurance that covers the costs associated with food and beverage-related emergencies, such as loss or damage to inventory, spoilage, and theft. Coverage can also include coverage for lost profits due to an emergency.
Some of the key players operating in the food and beverage insurance market are AXA, Allianz, Marsh, Sompo Holdings, Liberty Mutual Insurance Group, Zurich, Chubb, AIG, Aviva, Lonpac Insurance Bhd, Whitbread, Sheridan Insurances Ltd, Red Asia Insurance Agency Ltd, China Taiping Insurance Group Ltd, Aon-COFCO Insurance Brokers Co., Ltd.
The food and beverage insurance market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Food and Beverage 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 Food and Beverage Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Food and Beverage 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 Food and Beverage 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 Food and Beverage Insurance Market Size & Forecast, 2018-2028
4.5.1 Food and Beverage Insurance Market Size and Y-o-Y Growth
4.5.2 Food and Beverage Insurance Market Absolute $ Opportunity
Chapter 5 Global Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Type
5.2.1 Baked Goods
5.2.2 Beer
5.2.3 Wine
5.2.4 And Spirits
5.2.5 Cheese Products
5.2.6 Coffee
5.2.7 Tea
5.2.8 And Other Drinks
5.2.9 Frozen Foods
5.2.10 Ice Cream and Frozen Desserts
5.2.11 Meats
5.2.12 Fish
5.2.13 And Poultry
5.2.14 Pet Food
5.2.15 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Applications
6.2.1 Food Product Recall/Testing
6.2.2 Manufacturer’s Errors and Omissions
6.2.3 Spoilage in Transit
6.2.4 Packaging
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Food and Beverage 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 Food and Beverage 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 Food and Beverage Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Type
9.6.1 Baked Goods
9.6.2 Beer
9.6.3 Wine
9.6.4 And Spirits
9.6.5 Cheese Products
9.6.6 Coffee
9.6.7 Tea
9.6.8 And Other Drinks
9.6.9 Frozen Foods
9.6.10 Ice Cream and Frozen Desserts
9.6.11 Meats
9.6.12 Fish
9.6.13 And Poultry
9.6.14 Pet Food
9.6.15 Others
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 Food and Beverage Insurance Market Size Forecast by Applications
9.10.1 Food Product Recall/Testing
9.10.2 Manufacturer’s Errors and Omissions
9.10.3 Spoilage in Transit
9.10.4 Packaging
9.10.5 Others
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 Food and Beverage Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Type
10.6.1 Baked Goods
10.6.2 Beer
10.6.3 Wine
10.6.4 And Spirits
10.6.5 Cheese Products
10.6.6 Coffee
10.6.7 Tea
10.6.8 And Other Drinks
10.6.9 Frozen Foods
10.6.10 Ice Cream and Frozen Desserts
10.6.11 Meats
10.6.12 Fish
10.6.13 And Poultry
10.6.14 Pet Food
10.6.15 Others
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 Food and Beverage Insurance Market Size Forecast by Applications
10.10.1 Food Product Recall/Testing
10.10.2 Manufacturer’s Errors and Omissions
10.10.3 Spoilage in Transit
10.10.4 Packaging
10.10.5 Others
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 Food and Beverage Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Type
11.6.1 Baked Goods
11.6.2 Beer
11.6.3 Wine
11.6.4 And Spirits
11.6.5 Cheese Products
11.6.6 Coffee
11.6.7 Tea
11.6.8 And Other Drinks
11.6.9 Frozen Foods
11.6.10 Ice Cream and Frozen Desserts
11.6.11 Meats
11.6.12 Fish
11.6.13 And Poultry
11.6.14 Pet Food
11.6.15 Others
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 Food and Beverage Insurance Market Size Forecast by Applications
11.10.1 Food Product Recall/Testing
11.10.2 Manufacturer’s Errors and Omissions
11.10.3 Spoilage in Transit
11.10.4 Packaging
11.10.5 Others
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 Food and Beverage Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Food and Beverage 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 Food and Beverage Insurance Market Size Forecast by Type
12.6.1 Baked Goods
12.6.2 Beer
12.6.3 Wine
12.6.4 And Spirits
12.6.5 Cheese Products
12.6.6 Coffee
12.6.7 Tea
12.6.8 And Other Drinks
12.6.9 Frozen Foods
12.6.10 Ice Cream and Frozen Desserts
12.6.11 Meats
12.6.12 Fish
12.6.13 And Poultry
12.6.14 Pet Food
12.6.15 Others
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 Food and Beverage Insurance Market Size Forecast by Applications
12.10.1 Food Product Recall/Testing
12.10.2 Manufacturer’s Errors and Omissions
12.10.3 Spoilage in Transit
12.10.4 Packaging
12.10.5 Others
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) Food and Beverage Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Food and Beverage 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) Food and Beverage Insurance Market Size Forecast by Type
13.6.1 Baked Goods
13.6.2 Beer
13.6.3 Wine
13.6.4 And Spirits
13.6.5 Cheese Products
13.6.6 Coffee
13.6.7 Tea
13.6.8 And Other Drinks
13.6.9 Frozen Foods
13.6.10 Ice Cream and Frozen Desserts
13.6.11 Meats
13.6.12 Fish
13.6.13 And Poultry
13.6.14 Pet Food
13.6.15 Others
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) Food and Beverage Insurance Market Size Forecast by Applications
13.10.1 Food Product Recall/Testing
13.10.2 Manufacturer’s Errors and Omissions
13.10.3 Spoilage in Transit
13.10.4 Packaging
13.10.5 Others
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 Food and Beverage Insurance Market: Competitive Dashboard
14.2 Global Food and Beverage Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AXA
14.3.2 Allianz
14.3.3 Marsh
14.3.4 Sompo Holdings
14.3.5 Liberty Mutual Insurance Group
14.3.6 Zurich
14.3.7 Chubb
14.3.8 AIG
14.3.9 Aviva
14.3.10 Lonpac Insurance Bhd
14.3.11 Whitbread
14.3.12 Sheridan Insurances Ltd
14.3.13 Red Asia Insurance Agency Ltd
14.3.14 China Taiping Insurance Group Ltd
14.3.15 Aon-COFCO Insurance Brokers Co., Ltd
