Crop Insurance Market
Financial Services

Global Crop Insurance Market Analysis: Size, Drivers, Trends, Opportunities And Strategies

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Crop Insurance Market’s Robust Expansion

  • Strong growth witnessed in recent years
  • Expected growth from $40.05 billion in 2023 to $43.49 billion in 2024

Factors Driving Growth

Rising Frequency of Adverse Weather Events Fuels Growth in the Crop Insurance Market

  • Adverse weather events increasing globally
  • Crop insurance mitigates financial losses for farmers
  • August 2021 data highlights significant impact
  • Leading companies in the market

Product Innovation for Comprehensive Crop Protection

  • Product innovation as a major trend
  • Companies focus on innovative solutions
  • Example of HDFC ERGO General Insurance Company Ltd.
  • Introduction of technology-backed farm yield insurance


Read The Full Crop Insurance Market Report Here:


American Financial Group’s Strategic Acquisition

  • American Financial Group acquires Crop Risk Services from AIG
  • Aim to expand crop insurance portfolio
  • American International Group’s role in crop insurance market

Market Segmentation

  • Types of crop insurance: Crop Yield Insurance, Crop Revenue Insurance
  • Coverage options: Multi-Peril Crop Insurance (MPCI), Crop-Hail Insurance
  • Distribution channels: Banks, Insurance Companies, Brokers or Agents, Other Channels

Regional Dominance

  • North America leading in the crop insurance market in 2023

Looking Ahead: Forecasted Growth and Major Trends

  • Strong growth anticipated in the coming years
  • Expected growth to $60.66 billion by 2028
  • Key trends shaping the forecast period
    • Climate-resilient crop varieties
    • Education and awareness programs
    • Technological integration including blockchain and data analytics
    • Index-based insurance solutions


The crop insurance market is witnessing robust growth, driven by various factors such as adverse weather events, product innovation, and strategic acquisitions. With companies continually innovating to provide comprehensive protection to farmers, the market is poised for further expansion in the forecasted period. As technological integration and data analytics become more prominent, the industry is expected to offer more tailored and efficient solutions, ensuring the resilience of agricultural communities worldwide.


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The Crop Insurance Global Market Report 2024  provides an overview of the crop insurance market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The crop insurance market forecast analyzes crop insurance market size, crop insurance market share, leading competitor and their market positions.


The Table Of Content For The Crop Insurance Market Include:
1. Crop Insurance Market Executive Summary
2. Crop Insurance Market Segments
3. Crop Insurance Market Size And Crop Insurance Market Growth Rate
4. Key Crop Insurance Market Trends
5. Major Crop Insurance Market Drivers
25. Key Mergers And Acquisitions In The Crop Insurance Market
26. Top Crop Insurance Companies
27. Crop Insurance Market Opportunities And Strategies
28. Crop Insurance Market, Conclusions And Recommendations
29. Appendix


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