Travel insurance market is anticipated to grow at a CAGR of 15.4% during the forecast period (2024-2031). The travel insurance market is expanding owing to factors like increasing global tourism. The COVID-19 pandemic has increased demand for travel insurance. Technological advancements and product innovation have made it easier for consumers to compare and purchase policies. Demographic changes and strategic partnerships among providers, agencies, and airlines also contribute to market growth.
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Growing international arrivals have led to a large increase in the number of travelers seeking insurance coverage for medical emergencies, trip cancellations, and other travel-related threats. According to, UN Tourism, in January 2024, at a substantial increase from pre-pandemic levels, the global tourist industry reached in 2023 with an expected 1.3 billion global arrivals.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Travel Insurance Market Report Segment
By Type
- Single-Trip Travel Insurance
- Annual Multi-Trip Travel Insurance
By Distribution Channel
- Insurance Companies
- Insurance Intermediaries
- Banks
- Insurance Brokers
- Other (Travel Agencies & Tour Operators, Retail Stores, and Specialty Travel Insurance Providers)
By End-User
- Senior Citizens
- Education Travelers
- Family Travelers
- Other (Business Travelers, and Expatriates and International Assignees)
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global travel insurance market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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