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Crop Insurance Market Report 2023-2032: Market Size, Trends, Demand And Forecast | Agriculture Insurance Company of India Limited, American Financial Group Inc., Chubb Corp, ICICI Lombard General Insurance Company Limited, QBE Insurance Group Ltd
Crop Insurance Market
The Business Research Company's Crop Insurance Global Market Report 2023 identifies increasing incidence of adverse weather conditions as the major driver for the Crop Insurance market's growth in the forecast period. Adverse weather refers to hazardous weather conditions, such as hurricanes, floods, blizzards, disease, wildfires, and extremely hot or extremely cold temperatures.
The global crop insurance market size is expected to grow from $36.98 billion in 2022 to $40.53 billion in 2023 at a compound annual growth rate (CAGR) of 9.60%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global crop insurance market size is expected to reach $54.26 billion in 2027 at a CAGR of 7.57%.
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Major competitors in the Crop Insurance market are Agriculture Insurance Company of India Limited, American Financial Group Inc., Chubb Corp, ICICI Lombard General Insurance Company Limited, QBE Insurance Group Ltd.
A key trend in the Crop Insurance market includes Product innovation. Major companies operating in the factoring market are focused on innovative solutions to sustain their position in the market. For instance, in October 2022, HDFC ERGO General Insurance Company Ltd., an India-based financial service provider, launched a technology-backed farm yield insurance policy for farmers. It's a first-of-its-kind insurance solution that provides coverage at the farm level using a satellite-based index based on satellite-based data and gives thorough coverage across the whole crop life cycle, from planting to harvesting. In a press statement, the business stated. The product is valid for food, oilseed, commercial, or horticultural crops and is intended for farmers under corporate/farm input company (FIC) contracts.
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https://www.thebusinessresearchcompany.com/report/crop-insurance-global-market-report
The Crop Insurance market is segmented -
1. By Type: Crop Yield Insurance, Crop Revenue Insurance
2. By Coverage: Multi-Peril Crop Insurance (MPCI), Crop-Hail Insurance
3. By Distribution Channel: Banks, Insurance Companies, Brokers Or Agents, Other Distribution Channels
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Crop Insurance market.
The Business Research Company's "Global Crop Insurance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Crop Insurance Market Include:
1. Executive Summary
2. Crop Insurance Market Characteristics
3. Crop Insurance Market Trends And Strategies
4. Crop Insurance Market - Macro Economic Scenario
5. Crop Insurance Market Size And Growth
……
26. Africa Crop Insurance Market
27. Crop Insurance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Crop Insurance Market
29. Crop Insurance Market Future Outlook and Potential Analysis
30. Appendix
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