According to a new report published by Reports Monitor titled, “Agriculture Insurance and Reinsurance Market By Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Agriculture Insurance and Reinsurance Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America dominates the Agriculture Insurance and Reinsurance Market, and is expected to maintain this trend throughout the forecast period.
Though agriculture insurance started more than a century ago, agriculture insurance market is witnessing the growth from recent past years and expected to continue it in coming future. Agriculture market has also witnessed advancements in terms of technology and equipment such as IoT equipped machinery, Farm Management Software (FMS) etc.
Rapid growth of population & increased demand for food worldwide is the major growth factor for global agriculture insurance and reinsurance market. Uncertainty of nature, Governments’ Support to Agricultural activities and increased traction for risk assessment and management are some of the other growth factors for global agriculture insurance and reinsurance market.
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Lack of Standardized System and low awareness about concept of agriculture insurance are acting as the major restraints for global agriculture insurance and reinsurance market.
Global Agriculture Insurance and Reinsurance Market have been segmented majorly on the basis of (direct insurance company, original insurer and others).
North America is expected to be the largest market for agriculture insurance and reinsurance. Progressive insurance market environment combined with the growing need of new innovative insurance plans is fuelling the growth of this market in North America region. Europe is expected to be the second largest market for agriculture insurance and reinsurance. Increased awareness about the benefits and need of agriculture insurance is driving the growth for this market in this region.
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Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in Global Agriculture Insurance and Reinsurance Market and what are their strategies?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Agriculture Insurance Company of India Limited (AIC), Agroinsurance, Allianz Re, Aon, AXIS Capital, BlueOrchard Finance S.A., Endurance Specialty Holdings, Munich Re, Swiss Re, and XL Catlin.
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Mr. Kevin Thomas
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