Global Livestock Insurance Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

The Livestock Insurance refers to an insurance product intended for livestock's such as cattle, swine etc. Livestock insurance offers cover in case of death of livestock animal resulting from disease or accidents, which include natural calamities and fatal injuries caused by other animals. The rising penetration of diseases in livestock and increasing livestock population worldwide as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista - during 2020, the global cattle population was estimated at 982.87 million and this number is projected to grow to 1009.69 million by end of 2022. Furthermore, leading market players are working towards strategic partnerships to rollout AI enabled digital insurance tags for livestock. For instance, in June 2021, Chennai, India based Dvara e-Dairy Solutions Pvt. Ltd. Entered in a partnership with IFFCO Tokio General Insurance for providing artificial intelligence (AI) powered digital cattle identity solution for cattle insurance. The new tag named Surabhi e-Tag' is AI-powered digital tag that identifies cattle-based on muzzle identity. The tag would be launched in pilot mode with IFFCO Tokio across India. Also, growing penetration of BFSI companies in emerging markets coupled with increasing emergence of digital insurance products are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high premium cost associated with livestock insurance coupled with lack of penetration in developing regions impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Livestock Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing trend of livestock framing and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as increasing penetration of leading insurance providers and rising awareness towards livestock insurance offerings in the region, would create lucrative growth prospects for the global Livestock Insurance Market across the Asia Pacific region.

Major market players included in this report are:

AXA XL

Farm Bureau Financial Services

Future Generali India Insurance Company Ltd.

GramCover

HDFC ERGO

HUB International Limited

Howden Insurance & Reinsurance Brokers (Phil.), Inc.

ICICI Lombard General Insurance Company Limited

Lloyd's

Liberty

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type

Commercial Mortality Insurance

Non-commercial Mortality Insurance

By Application

Dairy

Cattle

Swine

Others

By Distribution Channel

Direct Sales

Bancassurance

Agents and Brokers

By End User

Commercial

Individuals

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Livestock Insurance Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors