North America 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 North America Crop Insurance Market would witness market growth of 5.3% CAGR during the forecast period (2025-2032).

The US market dominated the North America Crop Insurance Market by Country in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $20,148.3 million by 2032. The Canada market is experiencing a CAGR of 8.2% during (2025 - 2032). Additionally, The Mexico market would exhibit a CAGR of 7% during (2025 - 2032).

The crop insurance market has emerged as a critical component of modern agriculture, offering farmers a financial safety net against the unpredictable risks inherent in farming. As agriculture remains a cornerstone of global economies, ensuring food security and supporting rural livelihoods, crop insurance has evolved into a vital tool for mitigating losses caused by natural disasters, market fluctuations, and other unforeseen events. By providing a mechanism to stabilize farmers' incomes and promote sustainable agricultural practices, crop insurance plays an indispensable role in fostering resilience in the face of environmental and economic uncertainties.

Crop insurance serves a wide range of applications, addressing the diverse risks farmers face across different regions and farming systems. At its core, crop insurance is designed to protect farmers from financial losses due to crop failure or reduced yields caused by events such as droughts, floods, hailstorms, pests, diseases, or extreme weather conditions. It provides coverage for a variety of crops, including staple grains like wheat, rice, and maize, as well as cash crops such as cotton, soybeans, and coffee.

The market in North America is highly structured and mature, driven by well-established government support systems, a high level of agricultural productivity, and increasing climate-related risks. The region—comprising major economies like the United States, Canada, and Mexico—has a significant stake in global food production, which necessitates effective risk mitigation tools. In countries like the U.S. and Canada, strong public-private partnerships and substantial government subsidies have made crop insurance a fundamental part of agricultural sustainability.

Meanwhile, Mexico is rapidly evolving its insurance infrastructure to support its large base of smallholder farmers. As climate change intensifies the frequency and severity of extreme weather events, demand for tailored, data-driven crop insurance solutions continues to rise across the region. In the United States, the market is well-established and supported by a robust public-private partnership, primarily governed by the Federal Crop Insurance Corporation (FCIC) and administered through the Risk Management Agency (RMA) under the USDA.

The agriculture sector’s substantial economic contribution—approximately $1.264 trillion in 2021, with $164.7 billion directly from farm output—underscores the importance of risk mitigation tools like crop insurance. U.S. farmers face diverse challenges ranging from climate change to volatile commodity prices, which has amplified the need for comprehensive crop insurance coverage. The Canadian market is witnessing trends such as an increasing focus on coverage for climate-related perils, including drought, floods, and early frost.

There is also growing interest in integrating parametric insurance models and weather-based indexes to better serve regions with unpredictable climatic patterns. Competition is primarily among provincial agencies and a few private players operating under government frameworks. Provinces like Saskatchewan and Alberta have recently adopted digital claim filing and monitoring systems to streamline services. Thus, North America leads in crop insurance with strong government backing and tech adoption and is set to expand further amid rising climate risks.

Free Valuable Insights: The Crop Insurance Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.

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

North America 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

• US
• Canada
• Mexico
• Rest of North America

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Crop Insurance Market, by Type
1.4.2 North America Crop Insurance Market, by Coverage
1.4.3 North America Crop Insurance Market, by Distribution Channel
1.4.4 North America 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. North America Crop Insurance Market by Type
6.1 North America Multi-peril Crop Insurance (MPCI) Market by Country
6.2 North America Crop-hail Insurance Market by Country
6.3 North America Revenue Insurance Market by Country

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

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

Chapter 9. North America Crop Insurance Market by Country
9.1 US Crop Insurance Market
9.1.1 US Crop Insurance Market by Type
9.1.2 US Crop Insurance Market by Coverage
9.1.3 US Crop Insurance Market by Distribution Channel
9.2 Canada Crop Insurance Market
9.2.1 Canada Crop Insurance Market by Type
9.2.2 Canada Crop Insurance Market by Coverage
9.2.3 Canada Crop Insurance Market by Distribution Channel
9.3 Mexico Crop Insurance Market
9.3.1 Mexico Crop Insurance Market by Type
9.3.2 Mexico Crop Insurance Market by Coverage
9.3.3 Mexico Crop Insurance Market by Distribution Channel
9.4 Rest of North America Crop Insurance Market
9.4.1 Rest of North America Crop Insurance Market by Type
9.4.2 Rest of North America Crop Insurance Market by Coverage
9.4.3 Rest of North America 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 North America Crop Insurance Market, 2021 - 2024, USD Million
TABLE 2 North America Crop Insurance Market, 2025 - 2032, USD Million
TABLE 3 Key Customer Criteria of Crop Insurance Market
TABLE 4 North America Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 5 North America Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 6 North America Multi-peril Crop Insurance (MPCI) Market by Country, 2021 - 2024, USD Million
TABLE 7 North America Multi-peril Crop Insurance (MPCI) Market by Country, 2025 - 2032, USD Million
TABLE 8 North America Crop-hail Insurance Market by Country, 2021 - 2024, USD Million
TABLE 9 North America Crop-hail Insurance Market by Country, 2025 - 2032, USD Million
TABLE 10 North America Revenue Insurance Market by Country, 2021 - 2024, USD Million
TABLE 11 North America Revenue Insurance Market by Country, 2025 - 2032, USD Million
TABLE 12 North America Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 13 North America Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 14 North America Revenue Protection Market by Country, 2021 - 2024, USD Million
TABLE 15 North America Revenue Protection Market by Country, 2025 - 2032, USD Million
TABLE 16 North America Yield Protection Market by Country, 2021 - 2024, USD Million
TABLE 17 North America Yield Protection Market by Country, 2025 - 2032, USD Million
TABLE 18 North America Price Protection Market by Country, 2021 - 2024, USD Million
TABLE 19 North America Price Protection Market by Country, 2025 - 2032, USD Million
TABLE 20 North America Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 21 North America Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 22 North America Government Agencies Market by Country, 2021 - 2024, USD Million
TABLE 23 North America Government Agencies Market by Country, 2025 - 2032, USD Million
TABLE 24 North America Insurance Companies Market by Country, 2021 - 2024, USD Million
TABLE 25 North America Insurance Companies Market by Country, 2025 - 2032, USD Million
TABLE 26 North America Other Distribution Channel Market by Country, 2021 - 2024, USD Million
TABLE 27 North America Other Distribution Channel Market by Country, 2025 - 2032, USD Million
TABLE 28 North America Crop Insurance Market by Country, 2021 - 2024, USD Million
TABLE 29 North America Crop Insurance Market by Country, 2025 - 2032, USD Million
TABLE 30 US Crop Insurance Market, 2021 - 2024, USD Million
TABLE 31 US Crop Insurance Market, 2025 - 2032, USD Million
TABLE 32 US Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 33 US Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 34 US Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 35 US Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 36 US Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 37 US Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 38 Canada Crop Insurance Market, 2021 - 2024, USD Million
TABLE 39 Canada Crop Insurance Market, 2025 - 2032, USD Million
TABLE 40 Canada Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 41 Canada Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 42 Canada Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 43 Canada Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 44 Canada Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 45 Canada Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 46 Mexico Crop Insurance Market, 2021 - 2024, USD Million
TABLE 47 Mexico Crop Insurance Market, 2025 - 2032, USD Million
TABLE 48 Mexico Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 49 Mexico Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 50 Mexico Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 51 Mexico Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 52 Mexico Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 53 Mexico Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 54 Rest of North America Crop Insurance Market, 2021 - 2024, USD Million
TABLE 55 Rest of North America Crop Insurance Market, 2025 - 2032, USD Million
TABLE 56 Rest of North America Crop Insurance Market by Type, 2021 - 2024, USD Million
TABLE 57 Rest of North America Crop Insurance Market by Type, 2025 - 2032, USD Million
TABLE 58 Rest of North America Crop Insurance Market by Coverage, 2021 - 2024, USD Million
TABLE 59 Rest of North America Crop Insurance Market by Coverage, 2025 - 2032, USD Million
TABLE 60 Rest of North America Crop Insurance Market by Distribution Channel, 2021 - 2024, USD Million
TABLE 61 Rest of North America Crop Insurance Market by Distribution Channel, 2025 - 2032, USD Million
TABLE 62 Key information – USI Insurance Services, LLC
TABLE 63 Key Information – QBE Insurance Group Limited
TABLE 64 Key Information – Chubb Limited
TABLE 65 Key Information – Zurich Insurance Group Ltd.
TABLE 66 Key Information – Great American insurance company
TABLE 67 Key Information – American International Group, Inc. (AIG)
TABLE 68 Key Information – Nationwide Mutual Insurance Company
TABLE 69 Key Information – ICICI Lombard General Insurance Company Limited
TABLE 70 key information – AXA SA
TABLE 71 Key Information – Bajaj Allianz General Insurance Company

List of Figures
FIG 1 Methodology for the research
FIG 2 North America 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 North America Crop Insurance Market share by Type, 2024
FIG 8 North America Crop Insurance Market share by Type, 2032
FIG 9 North America Crop Insurance Market by Type, 2021 - 2032, USD Million
FIG 10 North America Crop Insurance Market share by Coverage, 2024
FIG 11 North America Crop Insurance Market share by Coverage, 2032
FIG 12 North America Crop Insurance Market by Coverage, 2021 - 2032, USD Million
FIG 13 North America Crop Insurance Market share by Distribution Channel, 2024
FIG 14 North America Crop Insurance Market share by Distribution Channel, 2032
FIG 15 North America Crop Insurance Market by Distribution Channel, 2021 - 2032, USD Million
FIG 16 North America Crop Insurance Market share by Country, 2024
FIG 17 North America Crop Insurance Market share by Country, 2032
FIG 18 North America 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