The Crop Reinsurance Global Market Report 2023, provides comprehensive information on the crop reinsurance market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Crop Reinsurance Global Market Report 2023, the global crop reinsurance market is expected to grow from $36.2 billion in 2022 to $38.8 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. 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 crop reinsurance market is expected to reach $49.9 billion in 2027 at a CAGR of 6.5%.
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Reinsurance practice is a key trend gaining popularity in the crop reinsurance market. Major companies operating in the crop reinsurance market are focused on developing innovative reinsurance practice solutions to sustain their position in the market. For instance, in September 2021, MS Amlin Ltd., a UK-based Insurance company, launched its agriculture and weather index reinsurance practice. Crop insurance, livestock insurance, aquaculture insurance, forestry goods, and weather index products are the five main things this new practice will offer globally. It can provide insurance to farmers in all significant agriculture markets worldwide. The practice’s deep technical expertise and financial strength make it a reliable partner for farmers seeking protection against crop losses. Additionally, it benefits financial stability, crop yield insurance, and crop revenue insurance.
The crop reinsurance market is segmented:
1) By Type: Crop Yield Reinsurance, Crop Price Reinsurance, Crop Revenue Reinsurance
2) By Application: Multi-Peril Crop Insurance (MPCI), Crop Hail, Livestock, Forestry
3) By Distribution Channel: Banks, Insurance Companies, Brokers And Agents, Other Distribution Channels
North America was the largest region in the crop reinsurance market in 2022.
The table of contents in TBRC’s crop reinsurance market report includes:
1. Executive Summary
2. Crop Reinsurance Market Characteristics
3. Crop Reinsurance Market Trends And Strategies
4. Crop Reinsurance Market – Macro Economic Scenario
5. Global Crop Reinsurance Market Size and Growth
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26. South America Crop Reinsurance Market
27. Brazil Crop Reinsurance Market
28. Middle East Crop Reinsurance Market
29. Africa Crop Reinsurance Market
30. Crop Reinsurance Market Competitive Landscape And Company Profiles
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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