In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Agricultural Insurance market for 2018-2023.
Agricultural insurance protects against loss of or damage to crops or livestock. It has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops. However, in practice its effectiveness has often been constrained by the difficulty of designing good products and by demand constraints.
The leading manufactures mainly are PICC, Zurich (RCIS), Chubb, QBE, ChinaÂ UnitedÂ PropertyÂ Insurance, American Financial Group, Prudential and XL Catlin. PICC is the largest player; its premiums of global market exceed 10.25% in 2016, followed by Zurich and Chubb.
Along with the Asia-Pacific region; European countries have had some form of crop or livestock 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 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 Insurance industry could also be attributed to North America which introduced the revenue-based Agricultural Insurance and, more recently, from emerging markets such as China, India and Brazil, driven by rapidly increasing insurance penetration.
Over the next five years, LPI(LP Information) projects that Agricultural Insurance will register a xx% CAGR in terms of revenue, reach US$ xx million by 2023, from US$ xx million in 2017.
This report presents a comprehensive overview, market shares and growth opportunities of Agricultural Insurance market by product type, application, key companies and key regions.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
Segmentation by application:
We can also provide the customized separate regional or country-level reports, for the following regions:
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
ChinaÂ UnitedÂ PropertyÂ Insurance
American Financial Group
Everest Re Group
Agriculture Insurance Company of India
CGB Diversified Services
Farmers Mutual Hail
Archer Daniels Midland
New India Assurance
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Agricultural Insurance market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Agricultural Insurance market by identifying its various subsegments.
Focuses on the key global Agricultural Insurance players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Agricultural Insurance with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Agricultural Insurance submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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