The report highlights the increasing demand for agricultural insurance owing to the rising awareness among farmers and agribusinesses. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the agricultural insurance market.
The agricultural insurance market is bifurcated into type and provider. Based on type, the market is segmented into crop insurance, livestock insurance, machinery insurance, and others. In 2022, the crop insurance segment accounted for the highest market share in the agricultural insurance market. On the basis of provider, the market is categorized into banks, insurance companies, brokers/agents, and others. In 2022, the insurance companies segment accounted for the highest market share in the overall agricultural insurance market.Get Free Sample
|Report Attributes||Report Details|
|By Type||Crop Insurance (Multi-Peril Crop Insurance, Named Peril Insurance, and Index-Based Insurance), Livestock Insurance, Machinery Insurance, and Others|
|By Provider||Banks, Insurance Companies, Brokers/Agents, and Others|
|By Region||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
The market is dominated by certain major companies such as Great American Insurance Company, Asian Development Bank, and American Agricultural Insurance Company among others have a strong market position in current market circumstances. Further, the agricultural insurance market is expected to witness significant growth in the coming years due to the rise in favourable government initiatives to safeguard farmers. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.