Livestock Insurance Market Size is valued at USD 3.7 billion in 2024 and is predicted to reach USD 8.1 billion by the year 2034 at a 8.6% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
Farmers and livestock owners now require insurance at greater rates due to the rise in diseases in livestock animals, such as the flu, ringworms, and fever. Their protection against unforeseen risks like fire, smoke, earthquakes, and other dangers is provided by this insurance coverage. Liability protection for accidental property damage or bodily injury to third parties is another benefit of livestock insurance. Moreover, the market for livestock insurance is expanding as a result of these causes.
For small-scale farmers in rural areas who might be unable to afford it, the high premium rates connected with livestock insurance provide a considerable barrier. On the other hand, many governments offer subsidies for livestock insurance to reduce risks and dangers encountered by the livestock business, realizing the significance of the livestock sector in the economy. Due to this government backing, the future growth potential for the livestock insurance sector is anticipated to be lucrative.
The Livestock Insurance market is segmented based on coverage, animal type, and distributional channel. The market is segmented by coverage as mortality, revenue and other coverage based on coverage. The Livestock Insurance market is segmented by animal type into bovine, swine, sheep & goats, poultry and other animals. Based on the distributional channel, the market is segmented as follows. The market is segmented by distributional channel into direct, agency/broker, bancassurance and others.
The mortality category is expected to hold a major share in the global Livestock Insurance market in 2022 due to the large number and variety of insurance companies offering livestock mortality insurance. For instance, well-known insurance businesses use their standing, resources, and underwriting knowledge to attract clients. Livestock insurance is a service provided by companies specializing in agricultural insurance, such as crop insurers. These insurers enter the market by utilizing their current infrastructure, distribution networks, and knowledge of agricultural risk management.
The bovine segment is projected to grow rapidly in the global Livestock Insurance market. The use of bovine insurance plans to reduce production risks and rising awareness of them is to blame for this. Bovine insurance covers livestock losses brought on by unfavorable weather, such as death, injury, or productivity loss owing to a lack of feed or infrastructure. Additionally, it provides defense against market turbulence and price risk, giving some degree of financial security for cattle and dairy producers. By covering cattle mortality, medical costs, and biosecurity measures, bovine insurance is essential in reducing financial losses brought on by disease outbreaks. It is anticipated that these advantages will aid in the segment's expansion.
The North American Livestock Insurance market is expected to register the highest market share. The agricultural landscape in North America is diversified, and the market for livestock insurance is essential to the expansion and stability of the livestock sector. The industry is fueled by elements like the desire for financial security against probable losses, the rising understanding of risk management among livestock farmers, and improvements in insurance technology.
In addition, Asia Pacific is projected to grow rapidly in the global Livestock Insurance market. Market dynamics may be impacted by shifting climatic trends, developing diseases, and changing regulatory frameworks. However, the potential for the market to grow and develop in the area is boosted by government backing, technical developments, and the increasing importance of livestock farming.
Recent Developments:
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Report Attribute |
Specifications |
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Market size value in 2024 |
USD 3.7 Bn |
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Revenue forecast in 2034 |
USD 8.1 Bn |
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Growth rate CAGR |
CAGR of 6.83% from 2025 to 2034 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Deployment Mode, Application, End-User |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; South Korea; Southeast Asia |
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Competitive Landscape |
Nationwide Mutual Insurance Company; AXA SA; FBL Financial Group, Inc; HDFC ERGO General Insurance Company Limited; ICICI Lombard General Insurance Company Limited; ProAg (Tokio Marine HCC group of companies); The Hartford; Reliance General Insurance Company Limited (part of Reliance Capital); Sunderland Marine (NorthStandard Limited); Royal Sundaram General Insurance Co. Limited |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Livestock Insurance Market Snapshot
Chapter 4. Global Livestock Insurance Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Coverage Estimates & Trend Analysis
5.1. By Coverage & Market Share, 2024-2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021-2034 for the following By Coverage:
5.2.1. Mortality
5.2.2. Revenue
5.2.3. Other Coverage
Chapter 6. Market Segmentation 2: By Animal Type Estimates & Trend Analysis
6.1. By Animal Type & Market Share, 2024-2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021-2034 for the following Animal Type:
6.2.1. Bovine
6.2.2. Swine
6.2.3. Sheep & Goats
6.2.4. Poultry
6.2.5. Other Animals
Chapter 7. Market Segmentation 3: By Distribution Channel Estimates & Trend Analysis
7.1. By Animal Type & Market Share, 2024-2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021-2034 for the following Distribution Channel:
7.2.1. Direct
7.2.2. Agency/Broker
7.2.3. Bancassurance
7.2.4. Others
Chapter 8. Livestock Insurance Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Coverage, 2021-2034
8.1.2. North America Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Animal Type, 2021-2034
8.1.3. North America Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Distribution Channel, 2021-2034
8.1.4. North America Livestock Insurance Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
8.1.4.1. U.S.
8.1.4.2. Canada
8.2. Europe
8.2.1. Europe Livestock Insurance Market revenue (US$ Million) By Coverage, 2021-2034
8.2.2. Europe Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Animal Type, 2021-2034
8.2.3. Europe Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Distribution Channel, 2021-2034
8.2.4. Europe Livestock Insurance Market revenue (US$ Million) by country, 2021-2034
8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Asia Pacific Livestock Insurance Market revenue (US$ Million) By Coverage, 2021-2034
8.3.2. Asia Pacific Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Animal Type, 2021-2034
8.3.3. Asia Pacific Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Distribution Channel, 2021-2034
8.3.4. Asia Pacific Livestock Insurance Market revenue (US$ Million) by country, 2021-2034
8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific
8.4. Latin America
8.4.1. Latin America Livestock Insurance Market revenue (US$ Million) By Coverage, 2021-2034
8.4.2. Latin America Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Animal Type, 2021-2034
8.4.3. Latin America Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Distribution Channel, 2021-2034
8.4.4. Latin America Livestock Insurance Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.4.4.1. Brazil
8.4.4.2. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Middle East & Africa Livestock Insurance Market revenue (US$ Million) By Coverage, (US$ Million)
8.5.2. Middle East & Africa Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Animal Type, 2021-2034
8.5.3. Middle East & Africa Livestock Insurance Market revenue (US$ Million) estimates and forecasts By Distribution Channel, 2021-2034
8.5.4. Middle East & Africa Livestock Insurance Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Nationwide Mutual Insurance Company
9.2.2. AXA SA
9.2.3. FBL Financial Group, Inc
9.2.4. HDFC ERGO General Insurance Company Limited
9.2.5. ICICI Lombard General Insurance Company Limited
9.2.6. ProAg (Tokio Marine HCC group of companies)
9.2.7. The Hartford
9.2.8. Reliance General Insurance Company Limited (part of Reliance Capital)
9.2.9. Sunderland Marine (NorthStandard Limited)
9.2.10. Royal Sundaram General Insurance Co.Limited, Inc.
Livestock Insurance Market By Coverage
Livestock Insurance Market By Animal Type
Livestock Insurance Market By Distribution Channel
Livestock Insurance Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
