Fine art insurance market set to reach $838.4b by 2034

APAC is seen as the fastest-growing region.

The global fine art insurance market is projected to grow significantly over the next decade, rising from $459.11b in 2025 to $838.41b by 2034, according to Market Research Future.

This reflects a compound annual growth rate (CAGR) of 6.9% for the forecast period of 2025 to 2034. The market was valued at $429.39b in 2024.

Regionally, Asia-Pacific is the fastest-growing region, driven by increasing wealth and art interest, whilst emerging opportunities are seen in Latin America, the Middle East, and Africa.

The global growth forecast will be driven by the increasing value of art collections, rising investment in fine art, and growing demand for specialised insurance coverage to protect against damage, theft, and loss. 

Collectors, museums, and galleries are increasingly seeking tailored policies as art values continue to rise.

The market is also benefiting from the growing participation of high-net-worth individuals and institutional investors who view fine art as a viable alternative asset class. 

Risks associated with transporting, storing, and exhibiting artwork have further emphasised the need for comprehensive insurance products.