Canada Agriculture Insurance Market

Canada Agriculture Insurance Market Insights Forecasts to 2035

• The Market Size is Expected to Grow at a CAGR of around 5.80% from 2025 to 2035
• The Canada Agriculture Insurance Market Size is expected to hold a substantial share by 2035

According to a research report published by Decisions Advisors, The Canada Agriculture Insurance Market Size is Expected to Grow at a CAGR of 5.80% during the forecast period 2025-2035. Rising climate risks, robust government support, and growing demand for stable farm income are the main drivers of Canada's agriculture insurance market. These factors are driving insurers and farmers to increase coverage and develop creative risk management strategies.

Market Overview

The Canadian agriculture insurance market is established as a planned system of crop, animal, and agricultural risk oversight programs designed to safeguard farmers against financial losses brought on by natural hazards, market volatility, and production risks. Within the agricultural insurance framework, it functions by combining public subsidies with private insurer participation through robust federal-provincial partnerships. Farmers are being forced to look for insurance coverage to reduce financial losses and guarantee business continuity due to unfavourable weather events like droughts, floods, and extremely high or low temperatures. A government-funded insurance program intended to assist farmers in managing production risks. It offers financial protection against revenue losses brought on by drops in the price of agricultural commodities as well as losses from natural disasters like droughts, floods, hail, and pest infestations. The program with cost subsidies and administrative support to encourage farmer participation, the Canadian Crop Insurance Act and related federal legislation create the national framework, cover a wide range of crops, and are an essential part of Canada's farm safety net.

In November 13, 2025, the Canadian and Manitoba governments introduced the Forage Advantage pilot program, which aims to incentivise sustainable farming methods. Farmers in Manitoba who plant perennial forage crops on marginal land will be eligible for a 15% reduction in Forage Establishment Insurance premiums beginning with the 2026 crop year.

In adherence with the Farm Income Protection Act, the Canada Production Insurance Regulations, and the Multilateral Framework Agreements, each province creates and offers AgriInsurance plans to satisfy the demands of its producers. Both yield-based and non-yield-based plans are available, and they assist in covering both production losses and loss of product quality.

Report Coverage

This research report categorises the market for the Canada agriculture insurance market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada agriculture insurance market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada agriculture insurance market.

Driving Factors

The market for Canada agriculture insurance is primarily driven by the country's increasing climate volatility, government support in the form of subsidies and premium incentives, and the need to maintain farm incomes in the face of growing production. Moreover, regulations and public-private partnerships increase market growth by lowering the cost and increasing the accessibility of insurance products for manufacturers. Furthermore, technological developments in data analytics and risk assessment are allowing insurers to provide more customised products, increasing adoption rates throughout the agriculture industry. The extensive use of artificial intelligence (AI) technology to customise policies for individual farmers is directly responsible for the market's explosive growth in crop insurance.

Restraining Factors

Major obstacles to the Canadian agriculture insurance market include high exposure to climate risk, low farmer participation, complicated regulations, and issues with affordability. Despite the sector's significance in stabilising farm incomes, these problems impede adoption.

Market Segmentation

The Canada agriculture insurance market share is classified into product and organisation.

• The multi-peril crop insurance segment held a significant share in 2024 and is anticipated to grow at a notable CAGR during the forecast period.

The Canada agriculture insurance market is divided by product into managed crop hail insurance, multi-peril crop insurance, greenhouse insurance, aquaculture insurance, and forestry insurance. Among these, the multi-peril crop insurance segment held a significant share in 2024 and is anticipated to grow at a notable CAGR during the forecast period. MPCI uses cutting-edge technology, extensive risk coverage, and government assistance to safeguard farmers and maintain agricultural productivity. The advantages and the fact that many farmers use crop diversification and seasonal rotation techniques to boost yield and revenue.

• The government segment dominated the market in 2024 and is projected to grow at a significant CAGR during the forecast period.

The Canada agriculture insurance market is segmented by organisation into government and private. Among these, the government segment dominated the market in 2024 and is projected to grow at a significant CAGR during the forecast period. Government insurance premium support is a common feature of agricultural insurance policies. In addition, governments are actively encouraging the growth and development of agricultural insurance, usually through premium subsidies. Additionally, those covered can obtain agricultural coverage with more kinds of options and customisations due to subsidy funding.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada agriculture insurance market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an in-depth analysis of the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for evaluating the overall competition in the market.

List of Key Companies

• Global Ag Risk Solutions Moose Jaw,
• Agriculture Financial Services Corporation (AFSC)
• Manitoba Agricultural Services Corporation (MASC)
• Saskatchewan Crop Insurance Corporation (SCIC)
• Ontario Mutual Insurance
• Desjardins General Insurance Group
• Co-operators General Insurance Company
• Aviva Canada
• Others

Recent Developments:

• In September 2025, HUB International launched its new Livestock Insurance Program in Canada. The program is designed to provide scalable, specialised coverage for Canadian farmers raising livestock, including equine, poultry, dairy, and cattle operations.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the Canada agriculture insurance market based on the below-mentioned segments:

Canada Agriculture Insurance Market, By Product

• Managed Crop Hail Insurance
• Multi-Peril Crop Insurance
• Greenhouse Insurance
• Aquaculture Insurance
• Forestry Insurance

Canada Agriculture Insurance Market, By Organisation 

• Government
• Private