Trade Credit Insurance Market Report 2025 (Global Edition)

Global Trade Credit Insurance Market Report 2025 Market Size Split by Component (Product, Services), by Enterprise size (Large Enterprises, Small and Medium-sized Enterprises), by Coverage (Whole Turn...

Trade Credit Insurance Market Report Description

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Trade Credit Insurance Market Insights Video

Competitive Landscape of the Trade Credit Insurance Market

The competition in trade credit insurance involves established players as well as emerging companies. Competition is such that different players are trying to outcompete others through innovations in their respective product and service offerings. Major insurance players are emphasizing portfolio expansion and strengthening of their risk assessment capabilities to serve clients across diversified industries. Besides, digital platforms make the trading of credit insurance more dynamic and aggressive because of their complementary roles, facilitating ease and speed of access to such services. Through technology, companies can smoothen their claims-processing experience and, therefore, improve customer experience.

In May 2023, TradeCreditTech (TCT) established a cooperation with TreasurUp. Through this agreement, the organizations hope to automate trade credit insurance and credit risk management for small and medium-sized businesses via banks. Certain banks will gain access to TreasurUp's trade credit platform through the relationship, which will be integrated into their online Commercial Banking interface. (Source: https://treasury-management.com/news/treasurup-and-tradecreditech-proudly-announce-their-partnership-to-digitise-credit-risk-management-and-trade-credit-insurance-for-smbs/) In March 2023, Origin India, an Indian trade credit insurance company, has teamed with AU Group, a trade receivables broker based in Paris. This partnership enables Origin India to provide its Indian consumers with a diverse variety of insurance products and services. As a result of this collaboration, AU Group expanded its geographical reach and improved its service capabilities. (Source: https://www.business-standard.com/content/press-releases-ani/origin-and-au-group-announce-their-partnership-123031700683_1.html) In January 2023, Coface, a term credit insurance company, has acquired Rel8ed, a North American data analytics boutique. With this transaction, Coface trade credit insurance will benefit from Rel8ed's analytics skills and extensive data sets. (Source: https://www.coface.com/news-economy-and-insights/coface-acquires-north-america-data-analytics-boutique-rel8ed)

Top Companies Market Share in Trade Credit Insurance Industry: (In no particular order of Rank)

• Allianz Trade
• Atradius N.V.
• Coface
• American International Group
• Inc. (AIG)
• Zurich
• Chubb
• QBE Insurance Group Limited
• Great American Insurance Company
• Aon plc
• Credendo
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Trade Credit Insurance Market

Which Region Dominates the Trade Credit Insurance Market in 2024?

According to Cognitive Market Research, North America currently dominates the Trade Credit Insurances market, and the region is expected to have significant growth during the projected period. North American businesses are increasingly interested in trade credit insurance as credit risk rises due to trade tensions, economic uncertainty, and supply chain disruptions. As a result, many firms use trade credit insurance to protect their cash flow, control risk, and ensure that they are paid for their goods and services.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific's trade credit insurance market is expected to develop at the quickest CAGR over the projected period. Asia Pacific is distinguished by rising economies that use debt and financing mechanisms to drive market growth.

The current report Scope analyzes Trade Credit Insurance Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Trade Credit Insurance Market

According to Cognitive Market Research, the global Trade Credit Insurance market size was estimated at USD 12154.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 4861.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Trade Credit Insurance market with a market size of USD 3835.87 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. The U.S. market's large and diverse economy
• The Canada Trade Credit Insurance market had a market share of USD 583.40 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Canada’s increasing focus on risk management strategies
• The Mexico Trade Credit Insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 442.41 million in 2024.

Europe Trade Credit Insurance Market

According to Cognitive Market Research, the global Trade Credit Insurance market size was estimated at USD 12154.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 3646.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• The United Kingdom Trade Credit Insurance market had a market share of USD 612.57 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. In the UK, Trade Credit Insurance sales witness an upswing due to the increased economic uncertainty.
• The France Trade Credit Insurance market is projected to witness growth at a CAGR of 9.2% during the forecast period, with a market size of USD 335.46 million in 2024.
• According to Cognitive Market Research, the German Trade Credit Insurance market size was valued at USD 721.96 million in 2024 and is projected to grow at a CAGR of 10.2% during the forecast period. In Germany, Trade Credit Insurance surged due to the presence of leading insurance providers and a supportive regulatory environment
• The Italy Trade Credit Insurance market is projected to witness growth at a CAGR of 9.4% during the forecast period, with a market size of USD 313.58 million in 2024.
• The Russia Trade Credit Insurance market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 565.17 million in 2024.
• The Spain Trade Credit Insurance market is projected to witness growth at a CAGR of 9.1% during the forecast period with a market size of USD 298.99 million in 2024
• The Luxembourg Trade Credit Insurance market is projected to witness growth at a CAGR of 10.1% during the forecast period, with a market size of USD 113.03 million in 2024.
• The Portugal Trade Credit Insurance market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 76.57 million in 2024.
• The Greece Trade Credit Insurance market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 43.76 million in 2024.
• The Rest of Europe's Trade Credit Insurance market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 565.17 million in 2024.

Asia Pacific Trade Credit Insurance Market

According to Cognitive Market Research, the global Trade Credit Insurance market size was estimated at USD 12154.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 2795.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Trade Credit Insurance market size was valued at USD 1257.96 million in 2024 and is projected to grow at a CAGR of 13.0% during the forecast period. Trade Credit Insurance surged in China due to the rapid growth of the economy and increasing international trade.
• The Japan Trade Credit Insurance market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 385.77 million in 2024.
• The India Trade Credit Insurance market had a market share of USD 335.46 million in 2024 and is projected to grow at a CAGR of 15.3% during the forecast period. India's rise of small and medium-sized enterprises (SMEs).
• The South Korean Trade Credit Insurance market is projected to witness growth at a CAGR of 12.6% during the forecast period, with a market size of USD 279.55 million in 2024.
• The Australian Trade Credit Insurance market is projected to witness growth at a CAGR of 13.2% during the forecast period, with a market size of USD 145.36 million in 2024.
• The South East Asia Trade Credit Insurance market is projected to witness growth at a CAGR of 14.5% during the forecast period, with a market size of USD 192.89 million in 2024.
• The Rest of Asia Pacific Trade Credit Insurance market is projected to witness growth at a CAGR of 13.3% during the forecast period, with a market size of USD 198.48 million in 2024.

South America Trade Credit Insurance Market

According to Cognitive Market Research, the global Trade Credit Insurance market size was estimated at USD 12154.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 607.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Trade Credit Insurance market size was valued at USD 260.10 million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. Trade Credit Insurance flourished in Brazil due to government initiatives promoting trade and investment.
• Argentina's Trade Credit Insurance market had a market share of USD 102.10 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. Argentina's rise of small and medium-sized enterprises (SMEs).
• Colombia Trade Credit Insurance market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 54.09 million in 2024.
• Peru Trade Credit Insurance market is projected to witness growth at a CAGR of 11.1% during the forecast period, with a market size of USD 49.83 million in 2024.
• Chile Trade Credit Insurance market is projected to witness growth at a CAGR of 11.2% during the forecast period, with a market size of USD 43.76 million in 2024.
• The Rest of Latin America's Trade Credit Insurance market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 97.84 million in 2024.

Middle East and Africa Trade Credit Insurance Market

According to Cognitive Market Research, the global Trade Credit Insurance market size was estimated at USD 12154.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 243.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031..

• The GCC Countries Trade Credit Insurance market is projected to witness growth at a CAGR of 12.0% during the forecast period, with a market size of USD 104.04 million in 2024. Trade Credit Insurance sales flourish due to the rapid economic growth.
• The Egypt Trade Credit Insurance market is projected to witness growth at a CAGR of 11.5% during the forecast period, with a market size of USD 25.52 million in 2024.
• The South Africa Trade Credit Insurance market is projected to witness growth at a CAGR of 12.2% during the forecast period, with a market size of USD 38.41 million in 2024. Trade Credit Insurance sales flourished in South Africa due to the government's initiatives to promote trade and investment.
• The Turkey Trade Credit Insurance market is projected to witness growth at a CAGR of 10.7% during the forecast period, with a market size of USD 20.91 million in 2024.
• The Nigeria Trade Credit Insurance market is projected to witness growth at a CAGR of 10.3% during the forecast period, with a market size of USD 25.52 million in 2024.
• The Rest of the MEA Trade Credit Insurance market is projected to witness growth at a CAGR of 10.2% during the forecast period, with a market size of USD 28.68 million in 2024.

Trade Credit Insurance Market Analysis

Trade Credit Insurance Market Component Segment Analysis

According to Cognitive Market Research, Product has the biggest global market share. Trade credit insurance products offer structured trade credit solutions by insuring against country, timing and performance risk, expropriation and nationalization, unjust bond calling, and other factors that are driving this segment's trade market growth throughout the forecast period.

The services are the fastest-growing segment in the Trade Credit Insurance Market. Trade credit insurance Streamline and automate trade credit insurance operations, lowering the time and costs associated with trading systems during the initial phase of deployment and driving market growth in the services sector.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Trade Credit Insurance Industry. Request a Free Sample PDF!

Trade Credit Insurance Market Enterprise size Segment Analysis

According to Cognitive Market Research, Large enterprises led the market in 2024 and are likely to maintain their dominance throughout the forecast period. The increase can be attributable to multinational corporations' growing need for trade credit insurance plans to mitigate the risks of nonpayment. Furthermore, market participants such as Allianz Trade provide trade credit insurance developed exclusively for large businesses to protect their cash flow and receivables

Small & medium-sized enterprises are predicted to develop at the quickest CAGR during the forecast period. This can be ascribed to Small and Medium Enterprises (SMEs) in the trade credit sector facing cash-flow issues because many of their sales are dependent on credit from customers

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Trade Credit Insurance Coverage Segment Analysis

Trade Credit Insurance Market Coverage Segment Analysis

According to Cognitive Market Research, in 2024, the whole turnover coverage category had the biggest market revenue share. The entire turnover policy coverage protects against the risk of non-payment. Businesses typically purchase a total turnover policy to support their credit control management and obtain coverage against their entire debtor book. Furthermore, the substantial percentage of this category might be attributed to the whole turnover coverage being less expensive and protecting insurers from initial high-probability credit losses.

The single buyer coverage category is expected to have a significant increase during the projection period. The credit limit supplied by underwriters allows them to cover all financial transactions with the customer, which has contributed to the segment's growth. This coverage offers highly tailored protection against a single buyer failing to pay for products or services delivered. Companies that deal with new customers frequently use single-buyer insurance to avoid payment difficulties.

• Whole Turnover Coverage
• Single Buyer Coverage

Trade Credit Insurance Industry vertical Segment Analysis

Trade Credit Insurance Market Industry Vertical Segment Analysis

According to Cognitive Market Research, Food and beverage had the highest market revenue share in 2024. The increasing demand for trade credit insurance in the food and beverage industry is driving the segment's expansion. Low margins, changing consumer demands, such as high-quality ingredients, and variable agricultural commodity pricing have generated a need for cash flow protection, which is driving trade credit insurance in the food and beverage business.

The automotive sector is expected to have the fastest CAGR during the projection period. The expansion of this section can be linked to the automobile sector, which is a major industry dealing with uncertainties caused by rapid technology advancements, changing customer tastes, government restrictions, and relative price

• Food and Beverages
• IT and Telecom
• Metals and Mining
• Healthcare
• Energy and Utilities
• Automotive
• Others

Trade Credit Insurance Application Segment Analysis

Trade Credit Insurance Market Application Segment Analysis

According to Cognitive Market Research, in 2024, the international application category held the greatest market revenue share. This growth is linked to the advantages of trade credit insurance, which greatly reduces the payment risks connected with international companies. Trade credit insurance builds trust and facilitates smoother cross-border transactions by providing the exporter with a conditional assurance of payment if the foreign purchaser defaults

The domestic application category is predicted to increase at the quickest CAGR throughout the projection period. The expansion of this segment can be ascribed to an increase in the use of trade credit insurance in domestic sales. The increased use of trade credit insurance in the domestic market can be ascribed to enterprises focused on minimizing bad debts and boosting cash flow.

• Domestic
• International

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

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