インドの作物保険市場の評価：タイプ・補償タイプ・保険会社タイプ・地域別の機会および予測 (2018-2032年)

インドの作物保険の市場規模は、2024年の45億6,000万米ドルから、予測期間中は7.62%のCAGRで推移し、2031年には82億1,000万米ドルの規模に成長すると予測されています。

作物保険は、第一次産業である農業の作物収量が、環境によってもたらされる不確実性に対抗するのに役立っており、インドのさまざまな機関や組織が提供する重要な手段となっています。農業はインド人口の約65％の主要な生計源であり、この部門のレジリエンスと安定性は、食糧安全保障と持続可能な経済成長を確保するためにもっとも重要です。このような背景から、インド政府とさまざまな民間企業は、農家が直面する固有のリスクを軽減し、逆境に直面した際の回復力を強化することを目的として、作物保険制度と商品をそれぞれ強化するための協調的な取り組みを行っています。

インドの農業部門は、保険という観点から見るとまだほとんど手つかずの状態であるため、作物保険はインドの農業において重要な意義と大きな成長の可能性を秘めています。他の先進国や発展途上国と違い、インドの農業や第一次産業の大部分は作物保険に加入していません。公共部門と民間が一体となって、干ばつ、洪水、熱帯性低気圧、害虫、病気など、さまざまなリスクに対する補償を提供することで、農家を潜在的な損失から守り、農業の成長と健全性に資する環境を創出しています。衛星画像、リモートセンシング、デジタルプラットフォームの利用が作物保険の状況に革新をもたらし、より正確なリスク評価、効率的な保険金請求処理、透明性の向上を可能にしています。

農民の教育と意識向上への注力：

インドの農業の大部分では、作物保険などの金融商品に関する知識や認識が不足しています。インドの作物保険市場を拡大するため、作物保険商品、保険金給付、保険金請求手続きに関する理解を深めるための農家教育・啓蒙活動が重視されています。農民の金融リテラシーを高め、リスク管理の実践を促進する取り組みは、作物保険制度の理解と有効性を高めるために不可欠です。

当レポートでは、インドの作物保険の市場を調査し、市場の定義と概要、市場規模の推移・予測、各種区分・地域別の詳細分析、産業構造、市場成長への影響因子の分析、ケーススタディ、競合情勢、主要企業のプロファイルなどをまとめています。

目次

第1章 調査手法

第2章 プロジェクトの範囲と定義

第3章 エグゼクティブサマリー

第4章 顧客の声

• 人口統計
• 市場認知度と製品情報
• ブランド認知度とロイヤルティ
• 購入決定時に考慮される要素
• 購入チャネル
• 購入目的
• 購入頻度
• 既存または予定ユーザー
• 友人や家族からの推薦/オンラインレビュー
• ブランドアンバサダーやインフルエンサーマーケティングが製品/ブランドの浸透に果たす役割

第5章 インドの作物保険市場の展望

• 市場規模・予測
• タイプ別
  • 複合危険作物保険
  • 生産履歴に基づく収量保険
  • 収入保健
• 補償内容別
  • 局所的な災害
  • 播種/植え付け/発芽リスク
  • 現存量の損失
  • 収穫後の損失
• 保険会社タイプ別
  • 民間
  • 公的機関
  • 政府
  • その他
• 地域別
  • 東部
  • 西部・中央部
  • 北部
  • 南部
• 市場シェア：企業別、2024年

第6章 市場マッピング、2024年

第7章 マクロ環境と産業構造

• 需給分析
• 輸出入分析
• バリューチェーン分析
• PESTEL分析
• ポーターのファイブフォース分析

第8章 市場力学

• 成長促進因子
• 成長阻害因子 (課題・制約)

第9章 主要企業の情勢

• 市場リーダー上位5社の競合マトリックス
• 市場リーダー上位5社の市場収益分析
• M&A・ジョイントベンチャー (該当する場合)
• SWOT分析（参入5社）
• 特許分析（該当する場合）

第10章 価格分析

第11章 ケーススタディ

第12章 主要企業の展望

• ICICI Lombard General Insurance Co. Ltd
• Tata Capital Financial Services Ltd
• Tata AIG General Insurance
• Reliance General Insurance
• Bajaj Allianz General Insurance
• SBI General Insurance
• Reliance General Insurance Co. Ltd.
• Cholamandalam MS General Insurance Co. Ltd.
• Agriculture Insurance Company of India Ltd (AIC)
• National Insurance Company Limited (NICL)

第13章 戦略的提言

第14章 当社について・免責事項

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1.India Crop Insurance Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2.India Crop Insurance Market Share (%), By Type, FY2018-FY2032F
• Figure 3.India Crop Insurance Market Share (%), By Coverage Type, FY2018-FY2032F
• Figure 4.India Crop Insurance Market Share (%), By Insurer Type, FY2018-FY2032F
• Figure 5.India Crop Insurance Market Share (%), By Region, FY2018-FY2032F
• Figure 6.By Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 7.By Coverage Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8.By Insurer Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9.By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024

India crop insurance market is projected to witness a CAGR of 7.62% during the forecast period FY2025-FY2032, growing from USD 4.56 billion in FY2024 to USD 8.21 billion in FY2032. Crop insurance is a vital tool provided by various institutions and agencies in India as it helps in combating the primary sector of India against the uncertainties posed by the environment on the farmer's crop yield. Agriculture being the primary source of livelihood for a significant portion of Indian population, about 65%, the resilience and stability of the sector is paramount for ensuring food security and sustainable economic growth. In the context, Indian government and various private players have undertaken concerted efforts to bolster crop insurance schemes and products respectively, aiming to mitigate the inherent risks faced by farmers and bolster their resilience in the face of adversities.

Crop insurance possesses significant importance and enormous growth potential in Indian agriculture context because the Indian agricultural sector is still largely untapped from an insurance point of view. As compared with other developed and developing countries large part of Indian agriculture and primary sector is not exposed to crop insurance. Through a blend of public and private sector participation, they offer coverage against a spectrum of perils including droughts, floods, cyclones, pests, and diseases, thereby cushioning farmers from potential losses and fostering a conducive environment for agricultural prosperity and the sectoral welfare. Technology plays a fair share in the sector of crop insurance as the use of satellite imagery, remote sensing, and digital platforms has revolutionized the landscape of crop insurance, enabling more accurate risk assessment, efficient claim processing, and enhanced transparency.

Focus on Farmer Education and Awareness

On the larger part of Indian agriculture sector, there is a lack of knowledge and awareness regarding financial instruments such as crop insurance. To expand India crop insurance market, there is a growing emphasis on farmer education and awareness initiatives to improve understanding of crop insurance products, coverage benefits and claims processes. Efforts to enhance financial literacy and promote risk management practices among farmers are essential for increasing the understanding and effectiveness of crop insurance schemes.

In a study conducted by Government Polytechnic College, Ooty, India in 2018, it was identified that 64 percent of farmers are not aware of the crop insurance scheme and among those who know about such schemes, majority of them are not satisfied with these plans.

Customization and Tailored Products to Become India Crop Insurance Market Trend

India is a large and diverse country and due to various demographics and climatic conditions, the needs of farmers vary from region to region. There is a growing recognition of the need for customized and tailored insurance products that cater to specific needs and risks faced by farmers in different regions and cropping patterns. For instance, in dryland farming, drought is severely affecting farmers through loss in production. Drought is a situation of lower-than-normal rainfall and its management and mitigation is important for future sustainability of agriculture production, productivity, and livelihoods. Insurers are offering flexible coverage options, premium rates, and payout structures to better align with the diverse requirements of farmers and ensure optimal risk mitigation. Agricultural insurance is considered as an important mechanism to address the risk of output and income resulting from various natural and man-made events.

Unlike generic insurance plans, Kshema provides personalized coverage options through the Kshema Sukriti policy, which allows farmers to select two perils that they believe have the highest occurrence probability in their region at an affordable cost of INR 499 per acre.

Government to Strengthen India Crop Insurance Market Size

Government policies and initiatives play a significant role in driving the growth of India crop insurance market. Majority of Indian population is involved in agricultural and allied activities, both directly and indirectly, thus the government plays an enhanced role in safeguarding the interests of a vast population. Regularly, the government of India launched various schemes that help farmers tackle unforeseen climatic situations. Programs such as Pradhan Mantri Fasal Bima Yojana (PMFBY) and Weather-Based Crop Insurance Scheme (WBCIS) are aimed at increasing the penetration of crop insurance and providing financial protection to farmers against crop losses due to natural calamities and other risks. Subsidized premiums, efficient claim settlement mechanisms, and increased awareness campaigns are some of the measures undertaken by the government to promote crop insurance uptake.

Pradhan Mantri Fasal Bima Yojana (PMFBY), introduced by prime minister of India on February 18, 2016, is a government-sponsored crop insurance policy for farmers. It was created by the 'One Nation-One Scheme' theme. It intends to offer farmer insurance coverage and financial assistance if any of the registered crops fail due to natural disasters, pests, or disease. Apart from it, the PMFBY is designed to stabilize farmers' incomes so that they continue farming, to encourage them to embrace innovative and contemporary agricultural practices, and to ensure the flow of credit to the agriculture sector.

In February 2024, three new initiatives were launched: Kisan Rakshak Helpline 14447 and Portal, Agri-Insurance Sandbox Framework Platform SARTHI and Learning Management System (LMS) Platform to strengthen crop insurance and benefit India's farming community as a whole.

Future Market Scenario (FY2025 - FY2032F)

India crop insurance market is expected to expand consistently over the coming years due to a large consumer base and a significant population engaged in agricultural activities both directly and indirectly.

India crop insurance market is likely to transform significantly over the coming years due to the integration of technology in various products and services with high and increasing emphasis on digitalization through online application processes with paperless transactions and verification methods.

On the lines of India crop insurance market it is expected that the market will help both private and public players and shortly more crop insurance schemes and plans will be launched that will offer personalized options.

Key Players Landscape and Outlook

There are several key players in India crop insurance market that are shaping the primary sector and contributing to its development and growth. However, the Government of India and its entities play a major role. Government agencies such as the Ministry of Agriculture and Farmers Welfare, along with state-level agricultural departments, play a central role in designing, implementing, and overseeing crop insurance schemes. Public sector insurance companies such as Agriculture Insurance Company of India Limited (AIC), National Insurance Company Limited (NICL), and United India Insurance Company Limited (UIIC) are major players in India crop insurance market. Private sector insurers such as ICICI Lombard, HDFC Ergo, Bajaj Allianz, and IFFCO Tokio General Insurance participate in the crop insurance market. They offer innovative insurance products, competitive pricing, and customer-centric services to farmers, contributing to the overall growth and competitiveness of the market.

Overall, India crop insurance market is poised for continued expansion and evolution, driven by government support, technological innovation, increasing awareness, and the imperative of climate change adaptation.

Table of Contents

1.Research Methodology

2.Project Scope & Definitions

3.Executive Summary

4.Voice of Customer

• 4.1.Demographics (Age/Cohort Analysis - Baby Boomers and Gen X, Millennials, Gen Z; Gender; Income - Low, Mid, and High; Geography; Nationality; etc.)
• 4.2.Market Awareness and Product Information
• 4.3.Brand Awareness and Loyalty
• 4.4.Factors Considered in Purchase Decision
  • 4.4.1.Premium Rate
  • 4.4.2.Crop Type
  • 4.4.3.Geography
  • 4.4.4.Institute Reputation
  • 4.4.5.Production History
  • 4.4.6.Personalized and Customized Options
• 4.5.Purchase Channel
• 4.6.Purpose of Purchase
• 4.7.Frequency of Purchase
• 4.8.Existing or Intended User
• 4.9.Recommendations from friends, family/online reviews
• 4.10.Role of Brand Ambassador or Influencer Marketing on Product/Brand Absorption

5.India Crop Insurance Market Outlook, FY2018 -FY2032F

• 5.1.Market Size & Forecast
  • 5.1.1.By Value
• 5.2.By Type
  • 5.2.1.Multiple Peril Crop Insurance
  • 5.2.2.Actual Production History
  • 5.2.3.Crop Revenue Coverage
• 5.3.By Coverage Type
  • 5.3.1.Localized Calamities
  • 5.3.2.Sowing/Planting/Germination Risk
  • 5.3.3.Standing Crop Loss
  • 5.3.4.Post-harvest Losses
• 5.4.By Insurer Type
  • 5.4.1.Private Institution
  • 5.4.2.Public Institution
  • 5.4.3.Government
  • 5.4.4.Other
• 5.5.By Region
  • 5.5.1.East
  • 5.5.2.West and Central
  • 5.5.3.North
  • 5.5.4.South
• 5.6.By Company Market Share (%), FY2024

6.Market Mapping, FY2024

• 6.1.By Type
• 6.2.By Loan Tenure
• 6.3.By Age
• 6.4.By Employment Type
• 6.5.By Region

7.Macro Environment and Industry Structure

• 7.1.Supply Demand Analysis
• 7.2.Import Export Analysis
• 7.3.Value Chain Analysis
• 7.4.PESTEL Analysis
  • 7.4.1.Political Factors
  • 7.4.2.Economic System
  • 7.4.3.Social Implications
  • 7.4.4.Technological Advancements
  • 7.4.5.Environmental Impacts
  • 7.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.5.Porter's Five Forces Analysis
  • 7.5.1.Supplier Power
  • 7.5.2.Buyer Power
  • 7.5.3.Substitution Threat
  • 7.5.4.Threat from New Entrant
  • 7.5.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Key Players Landscape

• 9.1.Competition Matrix of Top Five Market Leaders
• 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, FY2024)
• 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 9.4.SWOT Analysis (For Five Market Players)
• 9.5.Patent Analysis (If Applicable)

10.Pricing Analysis

11.Case Studies

12.Key Players Outlook

• 12.1.ICICI Lombard General Insurance Co. Ltd
  • 12.1.1.Company Details
  • 12.1.2.Key Management Personnel
  • 12.1.3.Products & Services
  • 12.1.4.Financials (As reported)
  • 12.1.5.Key Market Focus & Geographical Presence
  • 12.1.6.Recent Developments
• 12.2.Tata Capital Financial Services Ltd
• 12.3.Tata AIG General Insurance
• 12.4.Reliance General Insurance
• 12.5.Bajaj Allianz General Insurance
• 12.6.SBI General Insurance
• 12.7.Reliance General Insurance Co. Ltd.
• 12.8.Cholamandalam MS General Insurance Co. Ltd.
• 12.9.Agriculture Insurance Company of India Ltd (AIC)
• 12.10.National Insurance Company Limited (NICL)

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.Strategic Recommendations

14.About Us & Disclaimer