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Global Takaful Insurance Market Size study, by Distribution Channel (Agents and Brokers, Banks, Direct Response, Others), by Type (Family Takaful, General Takaful), by Application (Personal, Commercial) and Regional Forecasts 2022-2028

April 2022 | 200 pages | ID: G484BED25308EN
Bizwit Research & Consulting LLP

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Global Takaful Insurance Market is valued at approximately USD 28.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.6 % over the forecast period 2022-2028. Takaful Insurance is a form of Islamic insurance in which members pool their funds to protect each other against loss or injury. Takaful insurance is founded on sharia, or Islamic religious law, which describes how people are obligated to work together and protect one another. Takaful policies provide coverage for health, life, and other types of insurance. Rise in demand for Takaful Insurance in Islamic countries, distribution of profits from investments among both participants, large number of benefits have driven the adoption of Takaful Insurance across the projected period. For Instance: In 2019, there were 336 general takaful operators operating around the world. The overall takaful assets were around 51 billion dollars in the same year, with Turkey having the fastest expanding markets. Also, unexploited potential of Takaful Insurance is most likely to boost the overall growth of the Takaful Insurance Market. However, lack of awareness and lack of uniformity in the market due to regional differences can obstruct the market's expansion over the projection period of 2022-2028.

The key regions considered for the Global Takaful Insurance Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. GCC is the leading/significant region across the world. Rapid adoption of policies is driving the market growth in North America. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. The market is expected to grow during the projected period due to rising demand in this region.

Major market players included in this report are:
Abu Dhabi National Takaful Co.
Allianz
AMAN Insurance
Islamic Insurance
Prudential BSN Takaful Berhad
Qatar Islamic Insurance
SALAMA Islamic Arab Insurance Co.
Syarikat Takaful Brunei Darussalam
Takaful International
Zurich Malaysia

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Distribution Channel:
Agents and Brokers
Banks
Direct Response
Others

By Type:
Family Takaful
General Takaful

By Application:
Personal
Commercial

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Takaful Insurance Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
  1.2.1. Takaful Insurance Market, by Region, 2020-2028 (USD Billion)
  1.2.2. Takaful Insurance Market, by Distribution Channel, 2020-2028 (USD Billion)
  1.2.3. Takaful Insurance Market, by Type, 2020-2028 (USD Billion)
  1.2.4. Takaful Insurance Market, by Application, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL TAKAFUL INSURANCE MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Scope of the Study
  2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL TAKAFUL INSURANCE MARKET DYNAMICS

3.1. Takaful Insurance Market Impact Analysis (2020-2028)
  3.1.1. Market Drivers
    3.1.1.1. Rise in demand for Takaful Insurance in Islamic countries
    3.1.1.2. Distribution of profits from investments among both participants
    3.1.1.3. Large number of benefits
  3.1.2. Market Challenges
    3.1.2.1. Lack of awareness
    3.1.2.2. Lack of uniformity in the market due to regional differences
  3.1.3. Market Opportunities
    3.1.3.1. Unexploited potential of the Takaful Insurance Market

CHAPTER 4. GLOBAL TAKAFUL INSURANCE MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies

CHAPTER 5. RISK ASSESSMENT: COVID-19 IMPACT

  5.1.1. Assessment of the overall impact of COVID-19 on the industry
  5.1.2. Pre COVID-19 and post COVID-19 market scenario

CHAPTER 6. GLOBAL TAKAFUL INSURANCE MARKET, BY DISTRIBUTION CHANNEL

6.1. Market Snapshot
6.2. Global Takaful Insurance Market by Distribution Channel, Performance - Potential Analysis
6.3. Global Takaful Insurance Market Estimates & Forecasts by Distribution Channel, 2019-2028 (USD Billion)
6.4. Takaful Insurance Market, Sub Segment Analysis
  6.4.1 Agents and Brokers
  6.4.2 Banks
  6.4.3 Direct Response
  6.4.4 Others

CHAPTER 7. GLOBAL TAKAFUL INSURANCE MARKET, BY TYPE

7.1. Market Snapshot
7.2. Global Takaful Insurance Market by Type, Performance – Potential Analysis
7.3. Global Takaful Insurance Market Estimates & Forecasts by Type, 2019-2028 (USD Billion)
7.4. Takaful Insurance Market, Sub Segment Analysis
  7.4.1 Family Takaful
  7.4.2 General Takaful

CHAPTER 8. GLOBAL TAKAFUL INSURANCE MARKET, BY APPLICATION

8.1. Market Snapshot
8.2. Global Takaful Insurance Market by Application, Performance - Potential Analysis
8.3. Global Takaful Insurance Market Estimates & Forecasts by Application, 2019-2028 (USD Billion)
8.4. Takaful Insurance Market, Sub Segment Analysis
  8.4.1 Personal
  8.4.2 Commercial

CHAPTER 9. GLOBAL TAKAFUL INSURANCE MARKET, REGIONAL ANALYSIS

9.1. Takaful Insurance Market, Regional Market Snapshot
9.2. North America Takaful Insurance Market
  9.2.1. U.S. Takaful Insurance Market
    9.2.1.1. Distribution Channel breakdown estimates & forecasts, 2019-2028
    9.2.1.2. Type breakdown estimates & forecasts, 2019-2028
    9.2.1.3. Application breakdown estimates & forecasts, 2019-2028
  9.2.2. Canada Takaful Insurance Market
9.3. Europe Takaful Insurance Market Snapshot
  9.3.1. U.K. Takaful Insurance Market
  9.3.2. Germany Takaful Insurance Market
  9.3.3. France Takaful Insurance Market
  9.3.4. Spain Takaful Insurance Market
  9.3.5. Italy Takaful Insurance Market
  9.3.6. Rest of Europe Takaful Insurance Market
9.4. Asia-Pacific Takaful Insurance Market Snapshot
  9.4.1. China Takaful Insurance Market
  9.4.2. India Takaful Insurance Market
  9.4.3. Japan Takaful Insurance Market
  9.4.4. Australia Takaful Insurance Market
  9.4.5. South Korea Takaful Insurance Market
  9.4.6. Rest of Asia Pacific Takaful Insurance Market
9.5. Latin America Takaful Insurance Market Snapshot
  9.5.1. Brazil Takaful Insurance Market
  9.5.2. Mexico Takaful Insurance Market
9.6. Rest of The World Takaful Insurance Market

CHAPTER 10. COMPETITIVE INTELLIGENCE

10.1. Top Market Strategies
10.2. Company Profiles
  10.2.1. Abu Dhabi National Takaful Co.
    10.2.1.1. Key Information
    10.2.1.2. Overview
    10.2.1.3. Financial (Subject to Data Availability)
    10.2.1.4. Product Summary
    10.2.1.5. Recent Developments
  10.2.2. Allianz
  10.2.3. AMAN Insurance
  10.2.4. Islamic Insurance
  10.2.5. Prudential BSN Takaful Berhad
  10.2.6. Qatar Islamic Insurance
  10.2.7. SALAMA Islamic Arab Insurance Co.
  10.2.8. Syarikat Takaful Brunei Darussalam
  10.2.9. Takaful International
  10.2.10. Zurich Malaysia

CHAPTER 11. RESEARCH PROCESS

11.1. Research Process
  11.1.1. Data Mining
  11.1.2. Analysis
  11.1.3. Market Estimation
  11.1.4. Validation
  11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Takaful Insurance Market, report scope
TABLE 2. Global Takaful Insurance Market estimates & forecasts by Region 2019-2028 (USD Billion)
TABLE 3. Global Takaful Insurance Market estimates & forecasts by Distribution Channel 2019-2028 (USD Billion)
TABLE 4. Global Takaful Insurance Market estimates & forecasts by Type 2019-2028 (USD Billion)
TABLE 5. Global Takaful Insurance Market estimates & forecasts by Application 2019-2028 (USD Billion)
TABLE 6. Global Takaful Insurance Market by segment, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 7. Global Takaful Insurance Market by region, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 8. Global Takaful Insurance Market by segment, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 9. Global Takaful Insurance Market by region, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 10. Global Takaful Insurance Market by segment, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 11. Global Takaful Insurance Market by region, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 12. Global Takaful Insurance Market by segment, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 13. Global Takaful Insurance Market by region, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 14. Global Takaful Insurance Market by segment, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 15. Global Takaful Insurance Market by region, estimates & forecasts, 2019-2028 (USD Billion)
TABLE 16. U.S. Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 17. U.S. Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 18. U.S. Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 19. Canada Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 20. Canada Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 21. Canada Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 22. UK Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 23. UK Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 24. UK Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 25. Germany Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 26. Germany Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 27. Germany Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 28. RoE Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 29. RoE Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 30. RoE Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 31. China Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 32. China Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 33. China Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 34. India Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 35. India Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 36. India Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 37. Japan Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 38. Japan Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 39. Japan Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 40. RoAPAC Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 41. RoAPAC Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 42. RoAPAC Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 43. Brazil Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 44. Brazil Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 45. Brazil Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 46. Mexico Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 47. Mexico Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 48. Mexico Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 49. RoLA Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 50. RoLA Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 51. RoLA Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 52. Row Takaful Insurance Market estimates & forecasts, 2019-2028 (USD Billion)
TABLE 53. Row Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 54. Row Takaful Insurance Market estimates & forecasts by segment 2019-2028 (USD Billion)
TABLE 55. List of secondary sources, used in the study of global Takaful Insurance Market
TABLE 56. List of primary sources, used in the study of global Takaful Insurance Market
TABLE 57. Years considered for the study
TABLE 58. Exchange rates considered

LIST OF FIGURES

FIG 1. Global Takaful Insurance Market, research methodology
FIG 2. Global Takaful Insurance Market, market estimation techniques
FIG 3. Global market size estimates & forecast methods
FIG 4. Global Takaful Insurance Market, key trends 2021
FIG 5. Global Takaful Insurance Market, growth prospects 2022-2028
FIG 6. Global Takaful Insurance Market, porters 5 force model
FIG 7. Global Takaful Insurance Market, pest analysis
FIG 8. Global Takaful Insurance Market, value chain analysis
FIG 9. Global Takaful Insurance Market by segment, 2019 & 2028 (USD Billion)
FIG 10. Global Takaful Insurance Market by segment, 2019 & 2028 (USD Billion)
FIG 11. Global Takaful Insurance Market by segment, 2019 & 2028 (USD Billion)
FIG 12. Global Takaful Insurance Market by segment, 2019 & 2028 (USD Billion)
FIG 13. Global Takaful Insurance Market by segment, 2019 & 2028 (USD Billion)
FIG 14. Global Takaful Insurance Market, regional snapshot 2019 & 2028
FIG 15. North America Takaful Insurance Market 2019 & 2028 (USD Billion)
FIG 16. Europe Takaful Insurance Market 2019 & 2028 (USD Billion)
FIG 17. Asia pacific Takaful Insurance Market 2019 & 2028 (USD Billion)
FIG 18. Latin America Takaful Insurance Market 2019 & 2028 (USD Billion)
FIG 19. Global Takaful Insurance Market, company market share analysis (2021)


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