Index-based Agricultural Insurance Market was valued at USD 3.05 Billion in 2022 and is projected to reach USD 6.56 Billion by 2030, growing at a CAGR of 10.1% from 2024 to 2030.
The index-based agricultural insurance market demonstrated significant growth in 2022, with the market size reaching approximately USD 4.5 billion. This expansion reflects an increasing recognition of the benefits of index-based insurance solutions among farmers and agricultural stakeholders. The market is anticipated to experience a compound annual growth rate (CAGR) of 9.3% from 2023 to 2028. The rise in adoption can be attributed to the growing awareness of risk management tools that leverage weather indices and other environmental data to mitigate the impact of adverse weather conditions on crop yields and income stability.
Opportunities in the index-based agricultural insurance market are increasingly driven by the expansion of agricultural insurance coverage into emerging markets. The demand for innovative insurance solutions in developing regions is spurred by the need to address vulnerabilities in traditional insurance schemes. These markets are characterized by a rising agricultural sector, increased investments in technology, and supportive governmental policies aimed at enhancing agricultural productivity and resilience. Furthermore, advancements in remote sensing and data analytics are likely to foster new opportunities for market growth, making index-based insurance solutions more accessible and effective for smallholder farmers across diverse geographies.
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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
New India Assurance
ICICI Lombard
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Index-based Agricultural Insurance Market
Corn
Soybeans
Wheat
Cotton
Others
Based on Types the Market is categorized into Below types that held the largest Index-based Agricultural Insurance market share In 2023.
Weather Index
Yield Index
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Index-based Agricultural Insurance Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Index-based Agricultural Insurance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Index-based Agricultural Insurance Market, By Type
6. Global Index-based Agricultural Insurance Market, By Application
7. Global Index-based Agricultural Insurance Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Index-based Agricultural Insurance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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