Global Travel Insurance Market : size was valued at USD 18.50 Bn. in 2021 and the total Travel Insurance revenue is expected to grow by 16 % from 2022 to 2029, reaching nearly USD 21 Bn.
Market Scope:
The Travel Insurance market is a rapidly growing industry due to the increasing demand for natural and organic ingredients in the food and beverage, nutraceutical, and cosmetic industries. Collagen peptides and gelatin are derived from animal by-products and are rich in amino acids, making them beneficial for skin, hair, and joint health. They are also used as thickening and gelling agents in the food industry. The market is expected to continue growing as more consumers become aware of the benefits of collagen peptides and gelatin and as new applications for these ingredients are developed.
Travel Insurance Market Segment Analysis :
Based on Insurance Coverage, The market is divided into three sections based on insurance coverage: single-trip travel insurance, annual multi-trip travel insurance, and long-stay travel insurance. The single-trip travel insurance segment dominated the market with a share of 60.1% and is expected to grow at the fastest CAGR of 16.0% during the forecast period. The growth of the single-trip travel insurance segment can be attributed to factors such as baggage loss, emergency dental treatment costs, personal liability cover, fire cover, trip interruption or cancellation, missed flight connection, and many other services. Moreover, the annual multi-trip travel insurance segment is expected to grow at a CAGR of 15.3% during the forecast period. The increasing demand among business people, travellers, and other groups who make multiple trips per year can be attributed to the segment's growth.
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Segmentation:
by Insurance Coverage
• Single-trip Travel Insurance
• Annual Multi-trip Travel Insurance
• Long-stay Travel Insurance
by Distribution Channel
• Insurance Intermediaries
• Insurance Companies
• Banks
• Insurance Brokers
• Insurance Aggregators
by End-Users
• Education Travelers
• Business Travelers
• Senior Citizens
• Family Travelers
• Others
Key Players: the key players are
• American International Group, Inc.
• ASSICURAZIONI GENERALI S.P.A.
• USI Insurance Services, LLC
• battleface
• Insure & Go Insurance Services Limited
• Seven Corners Inc.
• Travel Insured International
• Zurich
• Delphi Financial Group, Inc.
• Ping An Insurance (Group) Company of China, Ltd.
• Allianz Group
• Munchener-Ruck-Gruppe
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Regional Analysis:
The report has assessed the global Travel Insurance market in the following regions:
America, North (the United States, Canada)
European Union (Germany, France, United Kingdom, Russia)
Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
Latin America (Brazil, Argentina, Colombia)
Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)
Key Questions answered in the Travel Insurance Market Report are:
What are the latest trends in the Market?
What are the most popular types of Market among consumers?
Who are the major players in the Market?
What are the different segments of the Market?
What is the market size for Market ?
What are the main drivers of growth in the Market?
What are the main challenges facing the Market?
What is the future outlook for the Market?
What is the impact of emerging technologies on the Market?
How do consumer preferences and demographics affect the Market?
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