Product Code: IRTNTR73022
Abstract
The crop insurance market is forecasted to grow by USD 14.62 bn during 2023-2028, accelerating at a CAGR of 6.22% during the forecast period. The report on the crop insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by extreme weather conditions due to global warming, rise in government support for crop insurance, and expansion of crop insurance product lines.
Market Scope |
Base Year | 2023 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 5.65% |
CAGR | 6.22% |
Incremental Value | $14.62bn |
Technavio's crop insurance market is segmented as below:
By Product
- Indemnity-based
- Index-based
By Type
- Crop yielded insurance
- Crop revenue insurance
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the digital initiatives in crop insurance as one of the prime reasons driving the crop insurance market growth during the next few years. Also, consolidation in the crop insurance sector and growing adoption of climate index insurance will lead to sizable demand in the market.
The report on the crop insurance market covers the following areas:
- Crop insurance market sizing
- Crop insurance market forecast
- Crop insurance market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading crop insurance market vendors that include Agriculture Insurance Co. of India Ltd., Allianz SE, American International Group Inc., Aon plc, AXA Group, Bajaj Finserv Ltd., Chubb Ltd., Everest Re Group Ltd., Hannover Re, ICICI Bank Ltd., Indian Farmers Fertiliser Cooperative Ltd., MARSH LLC, Munich Reinsurance Co., QBE Insurance Group Ltd., Reliance Industries Ltd., Sompo Holdings Inc., State Bank of India, Sundaram Finance Ltd., Swiss Re Ltd., and Willis Towers Watson Public Ltd. Co.. Also, the crop insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary - Chart on Market Overview
- Exhibit 02: Executive Summary - Data Table on Market Overview
- Exhibit 03: Executive Summary - Chart on Global Market Characteristics
- Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
- Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary - Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary - Chart on Incremental Growth
- Exhibit 08: Executive Summary - Data Table on Incremental Growth
- Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global crop insurance market 2018 - 2022
- Exhibit 18: Historic Market Size - Data Table on global crop insurance market 2018 - 2022 ($ billion)
- 4.2 Product Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size - Product Segment 2018 - 2022 ($ billion)
- 4.3 Type Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
- 4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Product - Market share 2023-2028 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Indemnity-based - Market size and forecast 2023-2028
- Exhibit 34: Chart on Indemnity-based - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Data Table on Indemnity-based - Market size and forecast 2023-2028 ($ billion)
- Exhibit 36: Chart on Indemnity-based - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Indemnity-based - Year-over-year growth 2023-2028 (%)
- 6.4 Index-based - Market size and forecast 2023-2028
- Exhibit 38: Chart on Index-based - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Data Table on Index-based - Market size and forecast 2023-2028 ($ billion)
- Exhibit 40: Chart on Index-based - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Index-based - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Product
- Exhibit 42: Market opportunity by Product ($ billion)
- Exhibit 43: Data Table on Market opportunity by Product ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 44: Chart on Type - Market share 2023-2028 (%)
- Exhibit 45: Data Table on Type - Market share 2023-2028 (%)
- 7.2 Comparison by Type
- Exhibit 46: Chart on Comparison by Type
- Exhibit 47: Data Table on Comparison by Type
- 7.3 Crop yielded insurance - Market size and forecast 2023-2028
- Exhibit 48: Chart on Crop yielded insurance - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Data Table on Crop yielded insurance - Market size and forecast 2023-2028 ($ billion)
- Exhibit 50: Chart on Crop yielded insurance - Year-over-year growth 2023-2028 (%)
- Exhibit 51: Data Table on Crop yielded insurance - Year-over-year growth 2023-2028 (%)
- 7.4 Crop revenue insurance - Market size and forecast 2023-2028
- Exhibit 52: Chart on Crop revenue insurance - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Data Table on Crop revenue insurance - Market size and forecast 2023-2028 ($ billion)
- Exhibit 54: Chart on Crop revenue insurance - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on Crop revenue insurance - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Type
- Exhibit 56: Market opportunity by Type ($ billion)
- Exhibit 57: Data Table on Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
- Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2023-2028
- Exhibit 63: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 65: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 66: Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.4 APAC - Market size and forecast 2023-2028
- Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.5 Europe - Market size and forecast 2023-2028
- Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.6 South America - Market size and forecast 2023-2028
- Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.7 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.8 US - Market size and forecast 2023-2028
- Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.9 China - Market size and forecast 2023-2028
- Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
- 9.10 Spain - Market size and forecast 2023-2028
- Exhibit 91: Chart on Spain - Market size and forecast 2023-2028 ($ billion)
- Exhibit 92: Data Table on Spain - Market size and forecast 2023-2028 ($ billion)
- Exhibit 93: Chart on Spain - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on Spain - Year-over-year growth 2023-2028 (%)
- 9.11 India - Market size and forecast 2023-2028
- Exhibit 95: Chart on India - Market size and forecast 2023-2028 ($ billion)
- Exhibit 96: Data Table on India - Market size and forecast 2023-2028 ($ billion)
- Exhibit 97: Chart on India - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on India - Year-over-year growth 2023-2028 (%)
- 9.12 Canada - Market size and forecast 2023-2028
- Exhibit 99: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 100: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 101: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on Canada - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Exhibit 103: Market opportunity By Geographical Landscape ($ billion)
- Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Agriculture Insurance Co. of India Ltd.
- Exhibit 111: Agriculture Insurance Co. of India Ltd. - Overview
- Exhibit 112: Agriculture Insurance Co. of India Ltd. - Product / Service
- Exhibit 113: Agriculture Insurance Co. of India Ltd. - Key offerings
- 12.4 Allianz SE
- Exhibit 114: Allianz SE - Overview
- Exhibit 115: Allianz SE - Business segments
- Exhibit 116: Allianz SE - Key news
- Exhibit 117: Allianz SE - Key offerings
- Exhibit 118: Allianz SE - Segment focus
- 12.5 American International Group Inc.
- Exhibit 119: American International Group Inc. - Overview
- Exhibit 120: American International Group Inc. - Business segments
- Exhibit 121: American International Group Inc. - Key news
- Exhibit 122: American International Group Inc. - Key offerings
- Exhibit 123: American International Group Inc. - Segment focus
- 12.6 Aon plc
- Exhibit 124: Aon plc - Overview
- Exhibit 125: Aon plc - Business segments
- Exhibit 126: Aon plc - Key offerings
- Exhibit 127: Aon plc - Segment focus
- 12.7 AXA Group
- Exhibit 128: AXA Group - Overview
- Exhibit 129: AXA Group - Business segments
- Exhibit 130: AXA Group - Key offerings
- Exhibit 131: AXA Group - Segment focus
- 12.8 Bajaj Finserv Ltd.
- Exhibit 132: Bajaj Finserv Ltd. - Overview
- Exhibit 133: Bajaj Finserv Ltd. - Business segments
- Exhibit 134: Bajaj Finserv Ltd. - Key offerings
- Exhibit 135: Bajaj Finserv Ltd. - Segment focus
- 12.9 Chubb Ltd.
- Exhibit 136: Chubb Ltd. - Overview
- Exhibit 137: Chubb Ltd. - Business segments
- Exhibit 138: Chubb Ltd. - Key news
- Exhibit 139: Chubb Ltd. - Key offerings
- Exhibit 140: Chubb Ltd. - Segment focus
- 12.10 Everest Re Group Ltd.
- Exhibit 141: Everest Re Group Ltd. - Overview
- Exhibit 142: Everest Re Group Ltd. - Business segments
- Exhibit 143: Everest Re Group Ltd. - Key offerings
- Exhibit 144: Everest Re Group Ltd. - Segment focus
- 12.11 Hannover Re
- Exhibit 145: Hannover Re - Overview
- Exhibit 146: Hannover Re - Product / Service
- Exhibit 147: Hannover Re - Key offerings
- 12.12 ICICI Bank Ltd.
- Exhibit 148: ICICI Bank Ltd. - Overview
- Exhibit 149: ICICI Bank Ltd. - Business segments
- Exhibit 150: ICICI Bank Ltd. - Key offerings
- Exhibit 151: ICICI Bank Ltd. - Segment focus
- 12.13 Indian Farmers Fertiliser Cooperative Ltd.
- Exhibit 152: Indian Farmers Fertiliser Cooperative Ltd. - Overview
- Exhibit 153: Indian Farmers Fertiliser Cooperative Ltd. - Product / Service
- Exhibit 154: Indian Farmers Fertiliser Cooperative Ltd. - Key offerings
- 12.14 Munich Reinsurance Co.
- Exhibit 155: Munich Reinsurance Co. - Overview
- Exhibit 156: Munich Reinsurance Co. - Business segments
- Exhibit 157: Munich Reinsurance Co. - Key offerings
- Exhibit 158: Munich Reinsurance Co. - Segment focus
- 12.15 Reliance Industries Ltd.
- Exhibit 159: Reliance Industries Ltd. - Overview
- Exhibit 160: Reliance Industries Ltd. - Business segments
- Exhibit 161: Reliance Industries Ltd. - Key news
- Exhibit 162: Reliance Industries Ltd. - Key offerings
- Exhibit 163: Reliance Industries Ltd. - Segment focus
- 12.16 State Bank of India
- Exhibit 164: State Bank of India - Overview
- Exhibit 165: State Bank of India - Business segments
- Exhibit 166: State Bank of India - Key offerings
- Exhibit 167: State Bank of India - Segment focus
- 12.17 Sundaram Finance Ltd.
- Exhibit 168: Sundaram Finance Ltd. - Overview
- Exhibit 169: Sundaram Finance Ltd. - Product / Service
- Exhibit 170: Sundaram Finance Ltd. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 171: Inclusions checklist
- Exhibit 172: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 173: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 174: Research methodology
- Exhibit 175: Validation techniques employed for market sizing
- Exhibit 176: Information sources
- 13.5 List of abbreviations
- Exhibit 177: List of abbreviations