Harvest Period Crop Insurance Market Report 2026

The harvest period crop insurance market size has grown strongly in recent years. It will grow from $13.89 billion in 2025 to $14.87 billion in 2026 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing climate-related crop losses, expansion of government-supported crop insurance schemes, rising awareness of harvest-stage risks, growth in commercial farming operations, improved agricultural data availability.

The harvest period crop insurance market size is expected to see strong growth in the next few years. It will grow to $19.32 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing adoption of AI-based crop risk modeling, rising demand for flexible insurance policies, expansion of digital insurance distribution channels, increasing focus on climate-resilient agriculture, growing integration of IoT-based farm monitoring. Major trends in the forecast period include increasing use of satellite and weather data for risk assessment, rising adoption of parametric insurance models, growing integration of digital claim processing, expansion of harvest-specific coverage products, enhanced focus on climate risk analytics.

The rising adoption of precision agriculture techniques is expected to drive the growth of the harvest period crop insurance market in the coming years. Precision agriculture involves using advanced technologies and data-driven methods to optimize farming efficiency and crop management. Its adoption is increasing due to improved crop yield efficiency, as these technologies enable precise resource use and better field management. Harvest period crop insurance supports the use of precision agriculture by providing financial stability during critical harvest times. It encourages investment in advanced farming technologies by mitigating risks, thereby enhancing productivity and informed decision-making. For example, in January 2024, the Government Accountability Office, a US-based government agency, reported that in 2023, 27% of farms and ranches in the U.S. had adopted precision agriculture practices for managing crops or livestock. Consequently, the growing adoption of precision agriculture techniques is fueling the expansion of the harvest period crop insurance market.

The increasing investment in agriculture is expected to propel the growth of the harvest period crop insurance market going forward. Investment in agriculture refers to the allocation of financial, human, and technological resources into agricultural activities, infrastructure, and innovations to increase productivity, ensure sustainability, and generate economic returns. Increasing investment in agriculture is primarily driven by the rising demand for food, as growing populations and changing diets require higher agricultural output to ensure food security and meet market needs. Increasing investment in agriculture enhances farm productivity and risk management capabilities, thereby creating a stronger foundation for the adoption and effectiveness of harvest period crop insurance. For instance, in November 2025, according to the Department of Agriculture, Fisheries and Forestry (DAFF), an Australia-based government agency, In 2023-24, total Australian agricultural R&D funding reached $2.98 billion, marking a slight increase from $2.91 billion in 2022-23. Therefore, the increasing investment in agriculture is driving the growth of the harvest period crop insurance marke.

In July 2023, American Financial Group, a US-based property and casualty insurer, acquired Crop Risk Services, Inc. from AIG for $240 million. This acquisition aims to strengthen American Financial Group’s position in the US crop insurance market by expanding its scale, geographic reach, and operational efficiency through integration with its Great American Insurance Group. Crop Risk Services Inc. is a US-based agricultural insurance company that offers harvest period crop insurance through federally reinsured programs.

Major companies operating in the harvest period crop insurance market are PICC (People’s Insurance Company Group of China), Zurich Insurance Group Ltd., Chubb Limited, QBE Insurance Group Ltd., Sompo International Holdings Ltd., Agriculture Insurance Company of India Ltd., Allianz SE, AXA SA, Munich Reinsurance Company, Swiss Reinsurance Company Ltd., American International Group Inc., Tokio Marine Holdings Inc., ICICI Lombard General Insurance Company Ltd., Farmers Mutual Hail Insurance Company, New India Assurance Company Limited, China United Property Insurance Company, Everest Re Group Ltd., Great American Insurance Company, Prudential plc, HDFC ERGO General Insurance Company Ltd., Bajaj Allianz General Insurance Company Ltd., Philippine Crop Insurance Corporation, Nigerian Agricultural Insurance Corporation, Fairfax Financial Holdings Ltd., China Reinsurance (Group) Corporation.

North America was the largest region in the harvest period crop insurance market in 2025. The regions covered in the harvest period crop insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the harvest period crop insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The harvest period crop insurance market includes revenues earned by entities through crop stand insurance, quality loss insurance, and custom harvest insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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