Crop Insurance Market Report Overview

The report provides insights about key players along with a thorough analysis of their growth strategies, manufacturing plant and capacity, geographical presence, and product portfolio. The report provides fundamental dynamics of the Crop Insurance market, including drivers, opportunities, trends, and restraints faced by the market.

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Crop Insurance Market Report Scope and Research Methodology

The major goal of the Crop Insurance Market report is to analyze the current and future market scenario. Global demand, income generation and sales and revenue have been provided in the Crop Insurance market report. Creating distinct segments helps clients to know about different growth components that are likely to be similar across the Crop Insurance industry. The leading players in the Crop Insurance industry including market leaders, new entrants and followers are also included in the report. The Crop Insurance market study provides unique guidance in thoughtful details regarding the development factors and has used a top-down and bottom-up approach to keep it error-free and accurate. MMR's Crop Insurance market report is the result of a study that used various methodologies such as the PESTEL, PORTER, and SWOT analysis.

Crop Insurance Market Regional Insights

The market report delves into the Crop Insurance business in great depth, segmenting it into numerous locations. North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East are evaluated by region and country in the study. In the Crop Insurance market report, regional markets are thoroughly investigated in order to uncover regional market trends, restrictions, and possible prospects.

Crop Insurance Market Segmentation

By type of cover, the global crop insurance market is segmented into multi-peril crop insurance (MPCI) and hail insurance. MPCI is a government-sponsored and regulated crop insurance program offered and served by private crop insurers and brokers. Over 78% of his farmers with crop insurance choose his MPCI. The cost of insurance and how much the insurance company will pay in the event of a claim is determined by the value of the crop. MPCI has access to over 120 crops, but not all crops are available in all regions. Each planting season, an MPCI policy must be purchased by federal deadlines before crops are planted. If damage is discovered early enough in the growing season, policies may include incentives to repot or penalties for not repotting. Therefore, the various characteristics offered by MPCI are expected to dominate the market during the forecast period.

By application, the crop insurance market is segmented into banks, insurers, brokers/agencies, and others. The crop insurance market is dominated by insurers, followed by banks and brokers. This trend is expected to continue throughout the forecast period. For example, in India, these companies received $16.31 billion in the five years since the PMFBY program was launched. Paid out $8.73 billion in bonus payments. This translates into approximately 31% savings in damages claims against farmers. Between April 2016 and December 14, 2020, the program benefited her 72.5 million farmers, according to the study. According to the ministry, the farmer has submitted his 269.9 million crop insurance applications covering 235.4 million hectares of farmland.

Regional Insights on Crop Insurance Market:

Rapid population growth and industrial development in the Asia-Pacific region are driving exponential growth in demand for crop insurance. A huge market growth opportunity is anticipated for the Asia-Pacific crop insurance market and the region is expected to grow at a CAHR of 29% during the forecast period. In Asia Pacific, China and India are the top countries for crop insurance. The growth of the Asia-Pacific crop insurance market is expected to be driven by large agricultural areas and favorable climatic conditions during the forecast period.

Crop Insurance Market Key Players

• Agriculture Insurance Co. of India Ltd.
• American Financial Group Inc.
• American International Group Inc.
• AmTrust Financial Services Inc.
• AXA Group
• Chubb Ltd.
• Groupama Assurances Mutuelles
• ICICI Bank Ltd.
• Indian Farmers Fertiliser Cooperative Ltd. (IFFCO)
• QBE Insurance Group Ltd.
• Santam Ltd.
• Sompo Holdings Inc.
• The New India Assurance Co. Ltd.
• Tokio Marine Holdings Inc.
• Zurich Insurance Co. Ltd.

Key Questions answered in the Crop Insurance Market Report are:

What are the sales, production, consumption, and import and export of Crop Insurance globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
Who are the major players in the Crop Insurance Industry on a worldwide scale?
What is the state of business of Crop Insurance market players?
What are the market opportunities and restraints for Crop Insurance suppliers in the global Crop Insurance industry?
Which application, end-user, or product category might be looking for new growth opportunities? What is each type's and application's Crop Insurance market share?
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Key Offerings:

Market Share, Size & Forecast by Revenue | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
Market Segmentation – A detailed analysis by segments with their sub-segments and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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