LAMEA Crop Insurance Market Size, Share & Industry Analysis Report By Type (Multi-peril Crop Insurance (MPCI), Crop-hail Insurance, and Revenue Insurance), By Coverage (Revenue Protection, Yield Protection, and Price Protection), By Distribution Channel (Government Agencies, Insurance Companies, and Other Distribution Channel), By Country and Growth Forecast, 2025 - 2032

The Latin America, Middle East and Africa Crop Insurance Market would witness market growth of 6.7% CAGR during the forecast period (2025-2032).

The Brazil market dominated the LAMEA Crop Insurance Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $1,405.1 million by 2032. The Argentina market is showcasing a CAGR of 7.4% during (2025 - 2032). Additionally, The South Africa market would register a CAGR of 5.7% during (2025 - 2032).

International organizations and development agencies have supported the expansion of crop insurance in developing regions, where smallholder farmers often lack access to formal financial services. These efforts have led to the establishment of innovative insurance models, such as index-based insurance, which uses weather or satellite data to trigger payouts, making it easier for farmers in remote areas to participate. The increasing adoption of crop insurance reflects its growing importance as a tool for building resilience and supporting sustainable agricultural growth.

The market is witnessing several notable trends that are shaping its evolution and expanding its reach. One prominent trend is the increasing integration of technology into insurance products and processes. Advances in data analytics, remote sensing, and satellite imagery have transformed the way crop insurance is designed, underwritten, and administered. For instance, satellite-based monitoring allows insurers to assess crop health and damage with greater accuracy, enabling faster and more transparent claims processing.

The LAMEA region presents a diverse landscape for the market, marked by contrasting levels of development, agricultural dependency, and institutional support. In Latin America, countries like Brazil, Argentina, and Mexico are gradually strengthening their insurance frameworks through public-private initiatives and targeted subsidy programs. In the Middle East and Africa, the market remains underpenetrated but is gaining momentum due to increasing climate vulnerabilities and food security challenges. Crop insurance in this region is increasingly being tied to rural development, climate adaptation, and resilience strategies.

Innovative models such as index-based and microinsurance products are being piloted to address the needs of smallholder farmers and underserved populations. Access to technology and international aid is expected to be a crucial driver in expanding the market. The market in the UAE is gradually gaining attention, driven by the country’s efforts to enhance food security and promote sustainable agriculture. Although the UAE’s arid climate limits large-scale farming, vertical farming, hydroponics, and protected cultivation are growing rapidly. These high-tech agricultural practices are valuable and vulnerable to disruptions from water shortages, pest outbreaks, and climate variability, prompting farmers and agribusinesses to seek financial protection through insurance.

A growing trend in the UAE is the integration of parametric insurance solutions, which use satellite and weather data to trigger payouts, thereby enabling quicker claims processing. Brazil holds a well-established and dynamic market, being one of the global leaders in agricultural production. The country’s diverse climate and large-scale commercial farming make risk management essential, particularly in regions cultivating soybeans, corn, coffee, and sugarcane. The Brazilian government actively supports the market through the Programa de Subvenção ao Prêmio do Seguro Rural (PSR), which subsidizes premium costs for farmers. In Thus, LAMEA is gradually advancing in crop insurance through innovation and support programs, aiming to boost resilience and food security.

Free Valuable Insights: The Worldwide Crop Insurance Market is Projected to reach USD 59.32 Billion by 2032, at a CAGR of 5.8 %

Based on Type, the market is segmented into Multi-peril Crop Insurance (MPCI), Crop-hail Insurance, and Revenue Insurance. Based on Coverage, the market is segmented into Revenue Protection, Yield Protection, and Price Protection. Based on Distribution Channel, the market is segmented into Government Agencies, Insurance Companies, and Other Distribution Channel. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.

List of Key Companies Profiled

• USI Insurance Services, LLC
• QBE Insurance Group Limited
• Chubb Limited
• Zurich Insurance Group Ltd.
• Great American Insurance Company (American Financial Group, Inc.)
• American International Group, Inc. (AIG)
• Nationwide Mutual Insurance Company
• ICICI Lombard General Insurance Company Limited (ICICI Bank Limited)
• AXA SA
• Bajaj Allianz General Insurance Company

LAMEA Crop Insurance Market Report Segmentation

By Type

• Multi-peril Crop Insurance (MPCI)
• Crop-hail Insurance
• Revenue Insurance

By Coverage

• Revenue Protection
• Yield Protection
• Price Protection

By Distribution Channel

• Government Agencies
• Insurance Companies
• Other Distribution Channel

By Country

• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Crop Insurance Market, by Type
1.4.2 LAMEA Crop Insurance Market, by Coverage
1.4.3 LAMEA Crop Insurance Market, by Distribution Channel
1.4.4 LAMEA Crop Insurance Market, by Country
1.5 Methodology for the research

Chapter 2. Market at a Glance
2.1 Key Highlights

Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis

Chapter 4. Value Chain Analysis of Crop Insurance Market
4.1 Product Development
4.2 Regulatory & Compliance Management
4.3 Marketing & Awareness
4.4 Distribution & Sales
4.5 Policy Underwriting
4.6 Premium Collection & Payment Systems
4.7 Monitoring & Risk Assessment
4.8 Claims Management
4.9 Customer Service & Support
4.10. Feedback & Product Improvement

Chapter 5. Key Customer Criteria of Crop Insurance Market
5.1 Coverage & Risk Protection
5.2 Premium Affordability
5.3 Claim Settlement Speed & Ease
5.4 Customization & Flexibility
5.5 Reputation & Reliability
5.6 Government Support & Subsidies
5.7 Technology & Data Use
5.8 Ease of Purchase & Access
5.9 Customer Service & Support
5.10. Policy Transparency

Chapter 6. LAMEA Crop Insurance Market by Type
6.1 LAMEA Multi-peril Crop Insurance (MPCI) Market by Country
6.2 LAMEA Crop-hail Insurance Market by Country
6.3 LAMEA Revenue Insurance Market by Country

Chapter 7. LAMEA Crop Insurance Market by Coverage
7.1 LAMEA Revenue Protection Market by Country
7.2 LAMEA Yield Protection Market by Country
7.3 LAMEA Price Protection Market by Country

Chapter 8. LAMEA Crop Insurance Market by Distribution Channel
8.1 LAMEA Government Agencies Market by Country
8.2 LAMEA Insurance Companies Market by Country
8.3 LAMEA Other Distribution Channel Market by Country

Chapter 9. LAMEA Crop Insurance Market by Country
9.1 Brazil Crop Insurance Market
9.1.1 Brazil Crop Insurance Market by Type
9.1.2 Brazil Crop Insurance Market by Coverage
9.1.3 Brazil Crop Insurance Market by Distribution Channel
9.2 Argentina Crop Insurance Market
9.2.1 Argentina Crop Insurance Market by Type
9.2.2 Argentina Crop Insurance Market by Coverage
9.2.3 Argentina Crop Insurance Market by Distribution Channel
9.3 South Africa Crop Insurance Market
9.3.1 South Africa Crop Insurance Market by Type
9.3.2 South Africa Crop Insurance Market by Coverage
9.3.3 South Africa Crop Insurance Market by Distribution Channel
9.4 Saudi Arabia Crop Insurance Market
9.4.1 Saudi Arabia Crop Insurance Market by Type
9.4.2 Saudi Arabia Crop Insurance Market by Coverage
9.4.3 Saudi Arabia Crop Insurance Market by Distribution Channel
9.5 UAE Crop Insurance Market
9.5.1 UAE Crop Insurance Market by Type
9.5.2 UAE Crop Insurance Market by Coverage
9.5.3 UAE Crop Insurance Market by Distribution Channel
9.6 Nigeria Crop Insurance Market
9.6.1 Nigeria Crop Insurance Market by Type
9.6.2 Nigeria Crop Insurance Market by Coverage
9.6.3 Nigeria Crop Insurance Market by Distribution Channel
9.7 Rest of LAMEA Crop Insurance Market
9.7.1 Rest of LAMEA Crop Insurance Market by Type
9.7.2 Rest of LAMEA Crop Insurance Market by Coverage
9.7.3 Rest of LAMEA Crop Insurance Market by Distribution Channel

Chapter 10. Company Profiles
10.1 USI Insurance Services, LLC
10.1.1 Company Overview
10.2 QBE Insurance Group Limited
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.3 Chubb Limited
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 SWOT Analysis
10.4 Zurich Insurance Group Ltd.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 SWOT Analysis
10.5 Great American Insurance Company (American Financial Group, Inc.)
10.5.1 Company Overview
10.5.2 Financial Analysis
10.6 American International Group, Inc. (AIG)
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Regional Analysis
10.6.4 SWOT Analysis
10.7 Nationwide Mutual Insurance Company
10.7.1 Company Overview
10.8 ICICI Lombard General Insurance Company Limited (ICICI Bank Limited)
10.8.1 Company Overview
10.8.2 Financial Analysis
10.9 AXA SA
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental and Regional Analysis
10.9.4 SWOT Analysis
10.10. Bajaj Allianz General Insurance Company
10.10.1 Company Overview
10.10.2 Financial Analysis

TABLE 1 LAMEA Crop Insurance Market, 2021 - 2024, USD Million
TABLE 2 LAMEA Crop Insurance Market, 2025 - 2032, USD Million
TABLE 3 Key Customer Criteria of Crop Insurance Market
TABLE 4 LAMEA Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 5 LAMEA Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 6 LAMEA Multi-peril Crop Insurance (MPCI) Market by Country, 2021 - 2024, USD Million
TABLE 7 LAMEA Multi-peril Crop Insurance (MPCI) Market by Country, 2025 - 2032, USD Million
TABLE 8 LAMEA Crop-hail Insurance Market by Country, 2021 - 2024, USD Million
TABLE 9 LAMEA Crop-hail Insurance Market by Country, 2025 - 2032, USD Million
TABLE 10 LAMEA Revenue Insurance Market by Country, 2021 - 2024, USD Million
TABLE 11 LAMEA Revenue Insurance Market by Country, 2025 - 2032, USD Million
TABLE 12 LAMEA Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 13 LAMEA Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 14 LAMEA Revenue Protection Market by Country, 2021 - 2024, USD Million
TABLE 15 LAMEA Revenue Protection Market by Country, 2025 - 2032, USD Million
TABLE 16 LAMEA Yield Protection Market by Country, 2021 - 2024, USD Million
TABLE 17 LAMEA Yield Protection Market by Country, 2025 - 2032, USD Million
TABLE 18 LAMEA Price Protection Market by Country, 2021 - 2024, USD Million
TABLE 19 LAMEA Price Protection Market by Country, 2025 - 2032, USD Million
TABLE 20 LAMEA Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 21 LAMEA Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 22 LAMEA Government Agencies Market by Country, 2021 - 2024, USD Million
TABLE 23 LAMEA Government Agencies Market by Country, 2025 - 2032, USD Million
TABLE 24 LAMEA Insurance Companies Market by Country, 2021 - 2024, USD Million
TABLE 25 LAMEA Insurance Companies Market by Country, 2025 - 2032, USD Million
TABLE 26 LAMEA Other Distribution Channel Market by Country, 2021 - 2024, USD Million
TABLE 27 LAMEA Other Distribution Channel Market by Country, 2025 - 2032, USD Million
TABLE 28 LAMEA Crop Insurance Market by Country, 2021 - 2024, USD Million
TABLE 29 LAMEA Crop Insurance Market by Country, 2025 - 2032, USD Million
TABLE 30 Brazil Crop Insurance Market, 2021 - 2024, USD Million
TABLE 31 Brazil Crop Insurance Market, 2025 - 2032, USD Million
TABLE 32 Brazil Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 33 Brazil Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 34 Brazil Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 35 Brazil Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 36 Brazil Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 37 Brazil Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 38 Argentina Crop Insurance Market, 2021 - 2024, USD Million
TABLE 39 Argentina Crop Insurance Market, 2025 - 2032, USD Million
TABLE 40 Argentina Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 41 Argentina Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 42 Argentina Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 43 Argentina Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 44 Argentina Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 45 Argentina Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 46 South Africa Crop Insurance Market, 2021 - 2024, USD Million
TABLE 47 South Africa Crop Insurance Market, 2025 - 2032, USD Million
TABLE 48 South Africa Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 49 South Africa Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 50 South Africa Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 51 South Africa Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 52 South Africa Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 53 South Africa Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 54 Saudi Arabia Crop Insurance Market, 2021 - 2024, USD Million
TABLE 55 Saudi Arabia Crop Insurance Market, 2025 - 2032, USD Million
TABLE 56 Saudi Arabia Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 57 Saudi Arabia Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 58 Saudi Arabia Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 59 Saudi Arabia Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 60 Saudi Arabia Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 61 Saudi Arabia Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 62 UAE Crop Insurance Market, 2021 - 2024, USD Million
TABLE 63 UAE Crop Insurance Market, 2025 - 2032, USD Million
TABLE 64 UAE Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 65 UAE Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 66 UAE Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 67 UAE Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 68 UAE Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 69 UAE Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 70 Nigeria Crop Insurance Market, 2021 - 2024, USD Million
TABLE 71 Nigeria Crop Insurance Market, 2025 - 2032, USD Million
TABLE 72 Nigeria Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 73 Nigeria Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 74 Nigeria Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 75 Nigeria Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 76 Nigeria Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 77 Nigeria Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 78 Rest of LAMEA Crop Insurance Market, 2021 - 2024, USD Million
TABLE 79 Rest of LAMEA Crop Insurance Market, 2025 - 2032, USD Million
TABLE 80 Rest of LAMEA Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 81 Rest of LAMEA Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 82 Rest of LAMEA Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 83 Rest of LAMEA Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 84 Rest of LAMEA Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 85 Rest of LAMEA Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 86 Key information – USI Insurance Services, LLC
TABLE 87 Key Information – QBE Insurance Group Limited
TABLE 88 Key Information – Chubb Limited
TABLE 89 Key Information – Zurich Insurance Group Ltd.
TABLE 90 Key Information – Great American insurance company
TABLE 91 Key Information – American International Group, Inc. (AIG)
TABLE 92 Key Information – Nationwide Mutual Insurance Company
TABLE 93 Key Information – ICICI Lombard General Insurance Company Limited
TABLE 94 key information – AXA SA
TABLE 95 Key Information – Bajaj Allianz General Insurance Company

List of Figures
FIG 1 Methodology for the research
FIG 2 LAMEA Crop Insurance Market, 2021 - 2032, USD Million
FIG 3 Key Factors Impacting Crop Insurance Market
FIG 4 Porter’s Five Forces Analysis – Crop Insurance Market
FIG 5 Value Chain Analysis of Crop Insurance Market
FIG 6 Key Customer Criteria of Crop Insurance Market
FIG 7 LAMEA Crop Insurance Market share by Type, 2024
FIG 8 LAMEA Crop Insurance Market share by Type, 2032
FIG 9 LAMEA Crop Insurance Market by Type, 2021 - 2032, USD Million
FIG 10 LAMEA Crop Insurance Market share by Coverage, 2024
FIG 11 LAMEA Crop Insurance Market share by Coverage, 2032
FIG 12 LAMEA Crop Insurance Market by Coverage, 2021 - 2032, USD Million
FIG 13 LAMEA Crop Insurance Market share by Distribution Channel, 2024
FIG 14 LAMEA Crop Insurance Market share by Distribution Channel, 2032
FIG 15 LAMEA Crop Insurance Market by Distribution Channel, 2021 - 2032, USD Million
FIG 16 LAMEA Crop Insurance Market share by Country, 2024
FIG 17 LAMEA Crop Insurance Market share by Country, 2032
FIG 18 LAMEA Crop Insurance Market by Country, 2021 - 2032, USD Million
FIG 19 SWOT Analysis: Chubb Limited
FIG 20 SWOT Analysis: Zurich Insurance Group Ltd.
FIG 21 SWOT Analysis: American International Group, Inc. (AIG)
FIG 22 SWOT Analysis: AXA SA