Crop Insurance Market Size to Grow $53.02 Billion, Globally, by 2027 at 6.1% CAGR: Allied Market Research

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PORTLAND, Ore., Sept. 2, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Crop Insurance Market by Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance) and Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global crop insurance […]

PORTLAND, Ore., Sept. 2, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Crop Insurance Market by Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance) and Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global crop insurance industry generated $34.05 billion in 2019, and is estimated to generate $53.02 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027.” data-reactid=”13″>PORTLAND, Ore., Sept. 2, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Crop Insurance Market by Coverage (Multi-peril Crop Insurance [MPCI] and Crop-hail Insurance) and Distribution Channel (Banks, Insurance Companies, Brokers/Agents, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global crop insurance industry generated $34.05 billion in 2019, and is estimated to generate $53.02 billion by 2027, registering a CAGR of 6.1% from 2020 to 2027.

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  • The demand for crop insurance has grown during the Covid-19 pandemic due to disrupted supply chain and impact on crop revenue in major countries such as India and Brazil.
  • Owing to the scarcity of laborers for harvesting and other activities, the crop production activities have been hampered, which in turn, raised the need for crop insurance.
  • The need for reformation of a regulatory framework to overcome challenges faced by insurers and policy adopters has arisen during the pandemic. Policymakers have focused their efforts on the reformations.
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    North America to continue its lead status by 2027” data-reactid=”43″>North America to continue its lead status by 2027

    North America accounted for the largest share of more than two-fifths of the global crop insurance market in 2019, and is expected to continue its lead status by 2027. This is due to farmers & ranchers in the U.S. striving to maintain economical crop production by acquiring crop insurance coverage. However, Asia-Pacific is expected to witness the highest CAGR of 7.9% from 2020 to 2027, owing to rise in agricultural production activity and adoption of advanced technologies in the region.” data-reactid=”44″>Based on region, North America accounted for the largest share of more than two-fifths of the global crop insurance market in 2019, and is expected to continue its lead status by 2027. This is due to farmers & ranchers in the U.S. striving to maintain economical crop production by acquiring crop insurance coverage. However, Asia-Pacific is expected to witness the highest CAGR of 7.9% from 2020 to 2027, owing to rise in agricultural production activity and adoption of advanced technologies in the region.

  • Agriculture Insurance Company of India Limited (AIC)
  • American Financial Group, Inc.
  • Chubb
  • Fairfax Financial Holdings Limited
  • ICICI Lombard General Insurance Company Limited
  • PICC
  • QBE Insurance Group Limited
  • Sompo International Holdings Ltd
  • Tokio Marine HCC
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    ” data-reactid=”75″>David Correa
    5933 NE Win Sivers Drive
    #205, Portland, OR 97220
    United States
    USA/Canada (Toll Free): 
    1-800-792-5285, 1-503-894-6022, 1-503-446-1141
    UK: +44-845-528-1300
    Hong Kong: +852-301-84916
    India (Pune): +91-20-66346060
    Fax: +1(855)550-5975
    [email protected]
    Web: https://www.alliedmarketresearch.com 
    Follow Us on LinkedIn and Twitter

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    SOURCE Allied Market Research

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