The global crop insurance market size reached US$ 43.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 69.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032. More Info:- https://www.imarcgroup.com/crop-insurance-market

1. Global Crop Insurance
Market Research and
Forecast Report 2024-
2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved

2. About IMARC Group
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results.

3. Report Highlight
and Description
According to the latest report by IMARC Group, titled "Crop Insurance
Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2024-2032," the global crop insurance market size reached US$ 43.7
Billion in 2023.
Crop insurance refers to a risk management tool designed to protect farmers
and agricultural businesses from financial losses resulting from crop damage
or failure. It provides a safety net for farmers by offering compensation for
losses caused by various perils, including adverse weather conditions, natural
disasters, pests, diseases, and other unforeseen events that can significantly
impact crop production. Crop insurance policies are typically purchased before
the planting season and cover the crops throughout their growth cycle until
harvest.
Additionally, the coverage amount is determined based on factors, such as
crop type, historical yields, and market prices. It plays a crucial role in
mitigating the inherent risks and uncertainties faced by farmers, who are highly
dependent on weather patterns and other external factors beyond their control.
Moreover, crop insurance acts as a crucial tool in safeguarding the interests of
farmers, promoting agricultural stability, and ensuring food security for
communities and nations.
Request for a PDF sample of this report: https://www.imarcgroup.com/crop -
insurance-market/requestsample

4. Report Description
Global Crop Insurance Market Trends:
The global crop insurance market is witnessing robust growth, driven by the increasing occurrence and intensity of
extreme weather events across the globe. Climate change has led to more frequent and severe droughts, floods, heat
waves, and storms, posing significant risks to agricultural production. In this scenario, crop insurance plays a critical role
in helping farmers recover from losses caused by these climate-related events and adapt to the changing environment.
Along with this, the growing global population and the consequent rise in food demand are exerting immense pressure on
farmers to enhance their productivity and crop yields. To meet this demand, farmers are increasingly adopting modern
agricultural practices, advanced technologies, and genetically modif ied crops. Additionally, crop insurance provides
farmers with the necessary support and financial protection, enabling them to invest confidently in modern farming
techniques and technologies, which is positively influencing the demand. In addition, government support and policies are
significant contributors to the expansion of the market. Recognizing the crucial role of agriculture in ensuring food
security and economic stability, governments have implemented favorable regulations and initiatives to promote crop
insurance adoption. Many governments provide subsidies, premium support, and risk-sharing programs to make crop
insurance affordable and accessible to farmers, thereby impacting the market favorably. Apart from this, continual
innovations in remote sensing, satellite imagery, and data analytics enable more accurate assessment of crop conditions,
yield predictions, and damage assessments. Furthermore, digital platforms and mobile applications facilitating easier
policy purchase, claims f iling, and communication between f armers and insurers are creating a positive market outlook.
Looking forward, the market is projected to reach US$ 69.9 Billion by 2032, expanding at a CAGR of 5.1%
during 2024-2032.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/crop-insurance-market

5. Report
Segmentation
Breakup by Coverage:
• Multi-Peril Crop Insurance (MPCI)
• Crop-Hail Insurance
Breakup by Distribution Channel:
• Banks
• Insurance Companies
• Brokers and Agents
• Others

6. Report
Segmentation
Breakup by Region:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

7. Competitive
Landscape with
Key Players
• Agriculture Insurance Company of India Limited
• Axa S.A.
• Chubb Limited
• Great American Insurance Company (American
Financial Group Inc.)
• ICICI Lombard General Insurance Company
Limited (ICICI Bank Limited)
• Philippine Crop Insurance Corporation
• QBE Insurance Group
• Santam (Sanlam)
• Sompo International Holdings Ltd (Sompo
Holdings Inc.)
• Tokio Marine HCC
• Zurich American Insurance Company

8. Key Questions
Answered in
the Report
What was the size of the global crop insurance market in
2023?
What is the expected growth rate of the global crop insurance
market during 2024-2032?
What are the key factors driving the global crop insurance
market?
What has been the impact of COVID-19 on the global crop
insurance market?
What is the breakup of the global crop insurance market
based on the coverage?
What are the key regions in the global crop insurance market?
Who are the key players/companies in the global crop
insurance market?

9. Table of
Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Crop Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Coverage
6.1 Multi-Peril Crop Insurance (MPCI)
6.1.1 Market Trends
6.1.2 Mark et Forecast
6.2 Crop-Hail Insurance
6.2.1 Mark et Trends
6.2.2 Mark et Forecast
7 Market Breakup by Distribution Channel
7.1 Banks
7.1.1 Mark et Trends
7.1.2 Mark et Forecast

10. Table of
Contents
7.2 Insurance Companies
7.2.1 Mark et Trends
7.2.2 Mark et Forecast
7.3 Brokers and Agents
7.3.1 Mark et Trends
7.3.2 Mark et Forecast
7.4 Others
7.4.1 Mark et Trends
7.4.2 Mark et Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Mark et Trends
8.1.1.2 Mark et Forecast
8.1.2 Canada
8.1.2.1 Mark et Trends
8.1.2.2 Mark et Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Mark et Trends
8.2.1.2 Mark et Forecast
8.2.2 Japan
8.2.2.1 Mark et Trends
8.2.2.2 Mark et Forecast
8.2.3 India
8.2.3.1 Mark et Trends
8.2.3.2 Mark et Forecast
For more information, visit :
https://www.imarcgroup.com/crop -insurance-market/toc

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