Agricultural Crop Insurance Market Report 2021-2027 by Technology, Future Trends, Opportunity, Top Key Players and more
A new market study, titled “Global Agricultural Crop Insurance Market Growth 2019-2024”, has been featured on WiseGuyReports.
PUNE, MAHARASTRA, INDIA, December 30, 2020 /EINPresswire.com/ -- Agricultural Crop Insurance Market
Agricultural Crop insurance is purchased by agricultural producers, including farmers, ranchers, and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of Premiums due to declines in the prices of agricultural commodities.
The main types of Agricultural Crop Insurance are: MPCI and Hail. MPCI enjoyed the largest proportion in global market, accounting for over 87%.
Geographically, the global Agricultural Crop Insurance has been segmented into North America, Europe, Asia-Pacific, Latin America, Africa and RoW. The North America held the largest share in the global Agricultural Crop Insurance market, its premiums of global market exceeds 51% in 2017.
Along with the Asia-Pacific region; European countries have had some form of crop insurance for more than a century. They are now mature markets with high penetration rates and offer comprehensive risk coverage for farmers. The developing countries that have succeeded in setting up a strong Agricultural Crop Insurance system (India, China), show that this success has been due, in large part, to public support granted through premium subsidies or reinsurance. Growth of the Agricultural Crop Insurance industry could also be attributed to North America which introduced the revenue-based Agricultural Corp Insurance and, more recently, from emerging markets such as China, India and Brazil, driven by rapidly increasing insurance penetration.
The key manufacturers covered in this report:
PICC
Zurich (RCIS)
Chubb
QBE
China United Property Insurance
American Financial Group
Prudential
XL Catlin
Everest Re Group
Endurance Specialty
CUNA Mutual
Agriculture Insurance Company of India
Tokio Marine
CGB Diversified Services
Farmers Mutual Hail
Archer Daniels Midland
ICICI Lombard
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According to this study, over the next five years the Agricultural Crop Insurance market will register a 4.4% CAGR in terms of revenue, the global market size will reach US$ 34000 million by 2024, from US$ 26300 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Agricultural Crop Insurance business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Agricultural Crop Insurance market by product type, application, key manufacturers and key regions and countries.
This study considers the Agricultural Crop Insurance value and volume generated from the sales of the following segments:
Segmentation by product type:
MPCI
Hail
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Digital & Direct Channel
Bancassurance
Agencies
Brokers
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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