Market Overview:
The global index-based 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 security and risk management solutions across the globe. Additionally, the growing awareness about index-based agricultural insurance among farmers is also contributing to the growth of this market. The global index-based agricultural insurance market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into weather index, yield index, and others. The weather index segment is expected to hold a major share in this market owing to its ability to provide protection against natural calamities such as floods and droughts that affect crops adversely. By application, it can be classified into corn, soybeans wheat cotton others).
Product Definition:
Index-based Agricultural Insurance is a type of crop insurance that pays farmers for losses in revenue caused by declines in agricultural prices. The price of the agricultural commodity used to calculate the payout is based on an index, such as the Reuters/CRB Index. This type of insurance is important because it helps protect farmers from unexpected drops in prices and gives them some predictability about their income.
Weather Index:
The weather index is a composite number that represents the average annual temperature of all locations. It is used to calculate the insured value of agricultural produce at a particular location. The higher the better, as it indicates low probability for crop damage due to extreme heat or cold.
The global weather index market was valued at USD 2,867 million in 2015 and is expected to grow at an estimated CAGR of XX% from 2016 to 2024.
Yield Index:
The yield index is a statistical tool that measures the average yield of crops over a period of time. It helps in measuring the productivity and profitability of farming activities. The major use of this index is to calculate insurance premium based on crop yields.
Yield Index has become an important tool for farmers, agriculturalist as well as policy makers to assess the impact.
Application Insights:
The index-based agricultural insurance market is segmented by application into corn, soybeans, wheat, and cotton. The corn segment held the largest share in 2017 due to its wide usage as a food crop and for the production of ethanol. In addition, this crop is also used as animal feed which contributes towards a large revenue share for this segment.
Soybean farming is one of the most lucrative industries globally due to high demand from consumers in China and India. The rising importance of protein sources has resulted in an increased consumption of meat which has further propelled soybean farming activities worldwide over the past few years. This factor along with increasing mechanization levels across farms will drive product demand over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness considerable growth over the forecast period owing to increasing demand for insurance products from farmers. The presence of a large number of insurance companies offering different types of agricultural index-based policies is also one major factor contributing toward market growth in this region.
Asia Pacific and Latin America are anticipated to grow at a lucrative rate over the forecast period owing to rising awareness about various agricultural insurance schemes among farmers, especially in developing economies such as India and Brazil. Furthermore, government initiatives coupled with favorable regulatory frameworks aimed at promoting investments related to agriculture are estimated to boost regional market development over the next eight years at least until 2030 when another index-based crop disaster risk management system is introduced by Monsanto Company (U.S.
Growth Factors:
- Increasing demand for food owing to population growth
- Rising income levels of people, especially in developing countries
- Emergence of new agricultural insurance products and services
- Expansion of Index-based Agricultural Insurance market across geographies
- Technological advancements in the agriculture sector
Scope Of The Report
Report Attributes
Report Details
Report Title
Index-based Agricultural Insurance Market Research Report
By Type
Weather Index, Yield Index, Others, Index-based Agricultural Insuranc
By Application
Corn, Soybeans, Wheat, Cotton, Others
By Companies
PICC, Zurich (RCIS), Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, 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, Index-based Agricultural Insuranc
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Index-based Agricultural Insurance Market Report Segments:
The global Index-based Agricultural Insurance market is segmented on the basis of:
Types
Weather Index, Yield Index, Others, Index-based Agricultural Insuranc
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
Corn, Soybeans, Wheat, Cotton, 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:
- PICC
- Zurich (RCIS)
- Chubb
- QBE
- China United Property Insurance
- American Financial Group
- Prudential
- XL Catlin
- Everest Re Group
- 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
- Index-based Agricultural Insuranc
Highlights of The Index-based 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:
- Weather Index
- Yield Index
- Others
- Index-based Agricultural Insuranc
- By Application:
- Corn
- Soybeans
- Wheat
- Cotton
- 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 Index-based 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.
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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?
Index-based agricultural insurance is a type of insurance that uses an index to measure the level of risk associated with a particular crop or livestock. The index is used to set premiums, and the insurer pays claims based on how much the value of the insured crop or livestock has decreased since the index was created.
Some of the major players in the index-based agricultural insurance market are PICC, Zurich (RCIS), Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, 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, Index-based Agricultural Insuranc.
The index-based agricultural insurance market is expected to grow at a compound annual growth rate of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Index-based Agricultural Insurance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Index-based Agricultural Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Index-based Agricultural Insurance Market - Supply Chain
4.5. Global Index-based Agricultural Insurance Market Forecast
4.5.1. Index-based Agricultural Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Index-based Agricultural Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. Index-based Agricultural Insurance Market Absolute $ Opportunity
5. Global Index-based Agricultural Insurance Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Index-based Agricultural Insurance Market Size and Volume Forecast by Type
5.3.1. Weather Index
5.3.2. Yield Index
5.3.3. Others
5.3.4. Index-based Agricultural Insuranc
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Index-based Agricultural Insurance Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Index-based Agricultural Insurance Market Size and Volume Forecast by Application
6.3.1. Corn
6.3.2. Soybeans
6.3.3. Wheat
6.3.4. Cotton
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Index-based Agricultural Insurance Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Index-based Agricultural Insurance Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Index-based Agricultural Insurance Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Index-based Agricultural Insurance Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Index-based Agricultural Insurance Demand Share Forecast, 2019-2026
9. North America Index-based Agricultural Insurance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Index-based Agricultural Insurance Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Index-based Agricultural Insurance Market Size and Volume Forecast by Application
9.4.1. Corn
9.4.2. Soybeans
9.4.3. Wheat
9.4.4. Cotton
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Index-based Agricultural Insurance Market Size and Volume Forecast by Type
9.7.1. Weather Index
9.7.2. Yield Index
9.7.3. Others
9.7.4. Index-based Agricultural Insuranc
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Index-based Agricultural Insurance Demand Share Forecast, 2019-2026
10. Latin America Index-based Agricultural Insurance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Index-based Agricultural Insurance Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Index-based Agricultural Insurance Market Size and Volume Forecast by Application
10.4.1. Corn
10.4.2. Soybeans
10.4.3. Wheat
10.4.4. Cotton
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Index-based Agricultural Insurance Market Size and Volume Forecast by Type
10.7.1. Weather Index
10.7.2. Yield Index
10.7.3. Others
10.7.4. Index-based Agricultural Insuranc
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Index-based Agricultural Insurance Demand Share Forecast, 2019-2026
11. Europe Index-based Agricultural Insurance Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Index-based Agricultural Insurance Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Index-based Agricultural Insurance Market Size and Volume Forecast by Application
11.4.1. Corn
11.4.2. Soybeans
11.4.3. Wheat
11.4.4. Cotton
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Index-based Agricultural Insurance Market Size and Volume Forecast by Type
11.7.1. Weather Index
11.7.2. Yield Index
11.7.3. Others
11.7.. Index-based Agricultural Insuranc
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Index-based Agricultural Insurance Demand Share, 2019-2026
12. Asia Pacific Index-based Agricultural Insurance Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Index-based Agricultural Insurance Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Index-based Agricultural Insurance Market Size and Volume Forecast by Application
12.4.1. Corn
12.4.2. Soybeans
12.4.3. Wheat
12.4.4. Cotton
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Index-based Agricultural Insurance Market Size and Volume Forecast by Type
12.7.1. Weather Index
12.7.2. Yield Index
12.7.3. Others
12.7.4. Index-based Agricultural Insuranc
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Index-based Agricultural Insurance Demand Share, 2019-2026
13. Middle East & Africa Index-based Agricultural Insurance Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Index-based Agricultural Insurance Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Index-based Agricultural Insurance Market Size and Volume Forecast by Application
13.4.1. Corn
13.4.2. Soybeans
13.4.3. Wheat
13.4.4. Cotton
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Index-based Agricultural Insurance Market Size and Volume Forecast by Type
13.7.1. Weather Index
13.7.2. Yield Index
13.7.3. Others
13.7.4. Index-based Agricultural Insuranc
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Index-based Agricultural Insurance Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Index-based Agricultural Insurance Market: Market Share Analysis
14.2. Index-based Agricultural Insurance Distributors and Customers
14.3. Index-based Agricultural Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. PICC
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Zurich (RCIS)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Chubb
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. QBE
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. China United Property Insurance
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. American Financial Group
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Prudential
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. XL Catlin
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Everest Re Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Endurance Specialty
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. CUNA Mutual
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Agriculture Insurance Company of India
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Tokio Marine
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. CGB Diversified Services
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Farmers Mutual Hail
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Archer Daniels Midland
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. New India Assurance
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. ICICI Lombard
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Index-based Agricultural Insuranc
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
