Wedding Insurance Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030.
The wedding insurance market has demonstrated significant growth in recent years, with a market size valued at approximately USD 2.1 billion in 2022. This market is projected to expand at a robust compound annual growth rate (CAGR) of around 8.5% from 2022 to 2027. The increasing awareness about the financial risks associated with wedding events, including vendor cancellations, severe weather disruptions, and personal liabilities, has fueled this growth. The rising trend of high-budget weddings and the growing number of destination weddings have further contributed to the demand for comprehensive wedding insurance coverage. Emerging markets present substantial opportunities for the wedding insurance sector. Regions with growing middle-class populations, such as parts of Asia-Pacific and Latin America, are witnessing a surge in wedding expenditures, thereby driving the need for insurance solutions. Additionally, evolving consumer preferences for personalized and tailored insurance products are expected to open new avenues for market players. The proliferation of digital platforms for purchasing insurance and the rising trend of insurance integration with wedding planning services are also anticipated to create favorable conditions for market expansion. As these trends continue, the wedding insurance market is well-positioned for ongoing growth and innovation.
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Wedsure
eWed Insurance
Travelers Wedding Protector Plan
EventHelper
WedSafe
USAA
Markel Specialty
Wedinsure
Wedding Insurance Group
Progressive
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 Wedding Insurance Market
Wedding Venue
Wedding Items
Wedding Guests
Other
Based on Types the Market is categorized into Below types that held the largest Wedding Insurance market share In 2023.
Liability Coverage
Cancellation Coverage
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 Wedding 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 Wedding Insurance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Wedding Insurance Market, By Type
6. Global Wedding Insurance Market, By Application
7. Global Wedding Insurance Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Wedding Insurance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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