Cruise Global Market Report 2024

Description

A cruise is a leisurely voyage on a ship featuring various amenities and multiple port stops. Unlike driving, where cruise control maintains a steady speed, a cruise offers a relaxed travel experience with diverse entertainment options, allowing passengers to explore multiple destinations without frequent transportation changes.

Cruises are primarily categorized into ocean cruises and river cruises. Ocean cruises utilize large ships to navigate seas and oceans, visiting numerous countries and continents while providing extensive amenities such as swimming pools, entertainment shows, and diverse dining options. These cruises cater to a wide range of passengers and are classified by size into small, mid, and large categories, serving applications in transportation, entertainment, and other areas.

The cruise market research report is one of a series of new reports from the business research company that provides cruise market statistics, including cruise industry global market size, regional shares, competitors with an cruise market share, detailed cruise market segments, market trends and opportunities, and any further data you may need to thrive in the cruise industry. This cruise market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cruise market size has grown rapidly in recent years. It will grow from $6.96 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth observed during the historic period can be attributed to several factors, including improving economic conditions, shifting demographic trends, evolving travel preferences, stricter regulations and safety standards, and increasing health and safety concerns.

The cruise market size is expected to see rapid growth in the next few years. It will grow to $12.57 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth during the forecast period can be attributed to several factors, including a heightened focus on sustainable tourism, improved health and safety protocols, market expansion in emerging economies, increased demand for experiential and themed cruises, and evolving regulatory environments with new incentives. Key trends expected during this period include sustainability and eco-friendly practices, technological advancements, diversification of destinations, luxury and experiential travel, family and multigenerational travel, and greater customization and personalization.

The increasing preference for luxury travel is set to drive the growth of the cruise market. Luxury travel encompasses premium and exclusive experiences, services, and accommodations for travelers seeking exceptional comfort and sophistication. Luxury travelers often seek unique and transformational experiences, exploring off-the-beaten-path destinations and engaging in activities that offer personal enrichment. Cruises, with their blend of luxury accommodations, gourmet dining, and immersive experiences in exotic locations, provide an appealing all-inclusive vacation option. For example, a March 2023 survey by Flywire, a U.S.-based payments company, revealed that 84% of luxury travelers expect longer vacations, and 83% plan to increase their travel spending by 11% in 2023. Spending on luxury trips rose from $3,728 in 2022 to $4,848 in 2023. This growing preference for luxury travel is likely to boost the cruise market.

Leading companies in the cruise market are focusing on developing eco-friendly options, such as LNG-powered cruises, to minimize environmental impact and emissions. LNG-powered cruise ships use liquefied natural gas as their primary fuel, offering benefits such as increased energy efficiency and potential long-term cost savings. For instance, in February 2024, Princess Cruises introduced two LNG-powered ships, the Sun Princess, featuring advanced LNG propulsion for enhanced fuel efficiency and reduced emissions. The ship's LNG system includes two tanks, each capable of holding 70,000 ft3 of LNG. Using LNG reduces greenhouse gas emissions compared to traditional marine fuels, contributing to a cleaner environment and supporting the cruise industry's sustainability goals.

In November 2022, Disney Cruise Line, a U.S.-based provider of family-oriented cruise experiences, acquired Global Dream Ship for an undisclosed amount. This acquisition is aimed at enhancing Disney Cruise Line's luxury cruise offerings and expanding its fleet to cater to a broader market segment seeking premium maritime experiences. Global Dream Ship, a Germany-based vessel, is designed to deliver an elevated cruise experience.

Major companies operating in the cruise market are TUI Group, MSC Cruises SA, Carnival Corporation & plc, Royal Caribbean Group, Norwegian Cruise Line Holdings Ltd, Disney Cruise Line, Hurtigruten Group, Windstar Cruises, Grand Circle Cruise Line, Regent Seven Seas Cruises, Oceania Cruises Inc, Genting Hong Kong Limited, CroisiEurope, Compagnie du Ponant, Uniworld Boutique River Cruises, Tauck River Cruises, Viking River Cruises Inc, Seabourn Cruise Line, Fred Olsen Cruise Lines Ltd, Crystal Cruises Inc, Scenic Luxury Cruises & Tours, Azamara Cruises, American Cruise Lines Inc, Paul Gauguin Cruises, SeaDream Yacht Club, Avalon Waterways, AmaWaterways, Island Queen Cruises, Silversea Cruises Ltd, Luxury Cruise Connections

North America was the largest region in the cruise market in 2023. The regions covered in the cruise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cruise market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cruise market includes revenues earned by companies operating cruise ships that offer leisure voyages to passengers, often including accommodations, meals, entertainment, and other onboard services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Cruise Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cruise market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for cruise ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cruise market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Ocean Cruises; River Cruises
2) By Size: Small; Mid; Large
3) By Application: Transportation; Entertainment; Other Applications
Companies Mentioned: TUI Group; MSC Cruises SA; Carnival Corporation & plc; Royal Caribbean Group; Norwegian Cruise Line Holdings Ltd
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19851

1. Executive Summary

2. Cruise Market Characteristics

3. Cruise Market Trends And Strategies

4. Cruise Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Cruise Market Size and Growth

5.1. Global Cruise Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Cruise Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Cruise Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Cruise Market Segmentation

6.1. Global Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Ocean Cruises
River Cruises
6.2. Global Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small
Mid
Large
6.3. Global Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Transportation
Entertainment
Other Application

7. Cruise Market Regional And Country Analysis

7.1. Global Cruise Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Cruise Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Cruise Market

8.1. Asia-Pacific Cruise Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Cruise Market

9.1. China Cruise Market Overview
9.2. China Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Cruise Market

10.1. India Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Cruise Market

11.1. Japan Cruise Market Overview
11.2. Japan Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Cruise Market

12.1. Australia Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Cruise Market

13.1. Indonesia Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Cruise Market

14.1. South Korea Cruise Market Overview
14.2. South Korea Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Cruise Market

15.1. Western Europe Cruise Market Overview
15.2. Western Europe Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Cruise Market

16.1. UK Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Cruise Market

17.1. Germany Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Cruise Market

18.1. France Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Cruise Market

19.1. Italy Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Cruise Market

20.1. Spain Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Cruise Market

21.1. Eastern Europe Cruise Market Overview
21.2. Eastern Europe Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Cruise Market

22.1. Russia Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Cruise Market

23.1. North America Cruise Market Overview
23.2. North America Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Cruise Market

24.1. USA Cruise Market Overview
24.2. USA Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Cruise Market

25.1. Canada Cruise Market Overview
25.2. Canada Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Cruise Market

26.1. South America Cruise Market Overview
26.2. South America Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Cruise Market

27.1. Brazil Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Cruise Market

28.1. Middle East Cruise Market Overview
28.2. Middle East Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Cruise Market

29.1. Africa Cruise Market Overview
29.2. Africa Cruise Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Cruise Market, Segmentation By Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Cruise Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Cruise Market Competitive Landscape And Company Profiles

30.1. Cruise Market Competitive Landscape
30.2. Cruise Market Company Profiles
- 30.2.1. TUI Group
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. MSC Cruises SA
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Carnival Corporation & plc
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Royal Caribbean Group
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Norwegian Cruise Line Holdings Ltd
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Cruise Market Other Major And Innovative Companies

31.1. Disney Cruise Line
31.2. Hurtigruten Group
31.3. Windstar Cruises
31.4. Grand Circle Cruise Line
31.5. Regent Seven Seas Cruises
31.6. Oceania Cruises Inc
31.7. Genting Hong Kong Limited
31.8. CroisiEurope
31.9. Compagnie du Ponant
31.10. Uniworld Boutique River Cruises
31.11. Tauck River Cruises
31.12. Viking River Cruises Inc
31.13. Seabourn Cruise Line
31.14. Fred Olsen Cruise Lines Ltd
31.15. Crystal Cruises Inc

32. Global Cruise Market Competitive Benchmarking

33. Global Cruise Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Cruise Market

35. Cruise Market Future Outlook and Potential Analysis

35.1 Cruise Market In 2028 - Countries Offering Most New Opportunities
35.2 Cruise Market In 2028 - Segments Offering Most New Opportunities
35.3 Cruise Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer