The global agricultural insurance market is expected to grow with a CAGR of 3.5% from 2024 to 2030

CITY, Country, 2023-Nov-20 — /EPR Network/ —

According to a market report by Lucintel, the future of the global agricultural insurance market looks promising with opportunities in the multi-peril crop insurance, crop-hail insurance, and livestock markets. The global agricultural insurance market is expected to reach an estimated $48.5 billion by 2030 with a CAGR of 3.5% from 2024 to 2030. The major drivers for this market are increased use of agricultural insurance, growing demand for safeguards against losses in the agricultural industry, as well as, initiatives to educate farmers of all stripes on the value and benefits of agriculture insurance.

In this market, banks, insurance companies, and brokers/agents are the major segments of agricultural insurance market by application type.

Lucintel forecast that insurance companies is expected to witness highest growth over the forecast period because of the knowledge and assets to oversee and underwrite policies in the agricultural insurance sector, as well as, to connect with farmers and other agricultural producers, they also have a large network of agents and brokers.

Within this market, multi-peril crop insurance will remain the highest growing segment because of the benefits provided as well as the fact that many farmers plant a variety of crops seasonally and sporadically in order to boost yield and boost profitability.

North America is expected to witness highest growth over the forecast period due to the growing awareness of risk management strategies and insurance packages combined with emerging economies, along with the growing investments made by regional manufacturers on technical innovations.

China United Property Insurance, ICICI Lombard, Chubb, QBE, CUNA Mutual, Farmers Mutual Hail, Agriculture Insurance Company Of India, PICC, and American Financial are the major suppliers in the agricultural insurance.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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