Cruise Tourism Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 9.44 Billion |
| Market Size (2029) | USD 14.31 Billion |
| CAGR (2024 - 2029) | 8.67 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cruise Tourism Market Analysis
The Cruise Tourism Market size is estimated at USD 9.44 billion in 2024, and is expected to reach USD 14.31 billion by 2029, growing at a CAGR of 8.67% during the forecast period (2024-2029).
- The cruise business has transformed tremendously in recent years, becoming the leading travel industry. It is widely regarded as the most popular recreational activity type and is a successful sector globally. Cruise lines offer various itineraries, from tropical getaways to cultural explorations. The industry has grown significantly due to rising disposable income and the desire for unique travel experiences.
- Cruise companies continuously innovate to attract more passengers and offer exciting features like themed cruises, luxury experiences, and onboard entertainment. Cruise ships visit various destinations, including popular tourist spots worldwide. Some destinations have developed specialized cruise terminals to accommodate large cruise ships and handle passenger arrivals efficiently.
Cruise Tourism Market Trends
Increase in Number of Ocean Cruise Passengers in North America
- The increase in the number of ocean cruise passengers in North America is making waves in the cruise tourism market. More and more people are opting for cruises as their preferred vacation choice.
- The convenience, variety of destinations, and onboard amenities offered by cruise lines are attracting a growing number of travelers, the industry is booming and expanding to meet the demand in North America. Cruise lines are constantly innovating and offering new and exciting experiences to attract passengers.
- From luxurious accommodations to thrilling entertainment options, there's something for everyone. This surge in demand for ocean cruises is contributing to the overall growth of the cruise tourism market.
Increase in Online Sales of Cruises in Asia
- Cruises have been gaining popularity in Asia in recent years. With the convenience and accessibility of online platforms, more and more people in Asia are opting to book their cruises online. This shift in consumer behavior is driving the growth of the cruise tourism market in the region.
- Online travel agencies and cruise line websites are providing a seamless booking experience, allowing travelers to easily compare options, explore different itineraries, and secure their dream cruise with just a few clicks. This trend not only benefits travelers by offering them more choices and flexibility, but it also presents new opportunities for cruise companies to reach a wider audience in the Asian market.
Cruise Tourism Industry Overview
The cruise tourism market is moderately competitive and has several major players. In terms of market share, few of the major players currently dominate the market. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well-known, including Carnival Corporation & Plc, Royal Caribbean Group, Norwegian Cruise Line Holdings Ltd, MSC Cruises, and Costa Cruises, among others.
Cruise Tourism Market Leaders
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Carnival Corporation & Plc
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Royal Caribbean Group
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Norwegian Cruise Line Holdings Ltd
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MSC Cruises
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Costa Cruises
*Disclaimer: Major Players sorted in no particular order
Cruise Tourism Market News
- November 2023: TravClan and Resorts World Cruises joined forces in a groundbreaking partnership aimed at revolutionizing cruise tourism in India. Through this collaboration, TravClan embarks on a transformative journey that promises to redefine the landscape of cruise vacations in India, ensuring accessibility and affordability for all.
- October 2023: Traveltek and Cruise Planners formed a strategic alliance, building on their longstanding relationship as Sabre clients. Traveltek is set to empower its agents' cruise technology solution on a national scale, marking a significant step forward in enhancing the cruise booking experience for travelers.
Cruise Tourism Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Disposable Income is Driving the Market
4.3 Market Restraints
4.3.1 High Costs is Restraining the Market
4.4 Market Opportunities
4.4.1 Increasing Popularity of Themed Cruises is Creating an Opportunity
4.5 Value Chain / Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technological Innovations in the Market
4.8 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 River Cruise
5.1.2 Ocean Cruise
5.1.3 Expedition Cruise
5.1.4 Theme Cruise
5.1.5 Adventure Cruise
5.1.6 Others
5.2 By Duration
5.2.1 1-7Days
5.2.2 8-14 Days
5.2.3 15-20 Days
5.2.4 More than 21 Days
5.3 By Passenger Age
5.3.1 Less than 12 years
5.3.2 13-19 Years
5.3.3 20-39 Years
5.3.4 40-59 Years
5.3.5 Above 60 Years
5.4 Geography
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 UK
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Rest of Asia Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East
5.4.5.1 UAE
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Company Profiles
6.2.1 Carnival Corporation & Plc
6.2.2 Royal Caribbean Group
6.2.3 Norwegian Cruise Line Holdings Ltd
6.2.4 MSC Cruises
6.2.5 Costa Cruises
6.2.6 Princess Cruises
6.2.7 Celebrity Cruises
6.2.8 Holland America Line
6.2.9 Disney Cruise Line
6.2.10 Cunard Line*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Cruise Tourism Industry Segmentation
Cruise tourism refers to holidays that are entirely or partly based on a cruise ship.
The cruise tourism market is segmented by type which includes a river cruise, ocean cruise, expedition cruise, theme cruise, adventure cruise, and other types, by duration, including 1- 7 days, 8-14 days, 15-20 days, and more than 21 days, by passenger age includes less than 12 Years, 13-19 years, 20-39 years, 40-59 years, and above 60 years, and by geography includes Asia-pacific, Europe, North America, South America, and the Middle East.
The report offers market size and forecasts for the cruise tourism market in terms of revenue (USD) for all the above segments.
| By Type | |
| River Cruise | |
| Ocean Cruise | |
| Expedition Cruise | |
| Theme Cruise | |
| Adventure Cruise | |
| Others |
| By Duration | |
| 1-7Days | |
| 8-14 Days | |
| 15-20 Days | |
| More than 21 Days |
| By Passenger Age | |
| Less than 12 years | |
| 13-19 Years | |
| 20-39 Years | |
| 40-59 Years | |
| Above 60 Years |
| Geography | ||||||||
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Cruise Tourism Market Research FAQs
How big is the Cruise Tourism Market?
The Cruise Tourism Market size is expected to reach USD 9.44 billion in 2024 and grow at a CAGR of 8.67% to reach USD 14.31 billion by 2029.
What is the current Cruise Tourism Market size?
In 2024, the Cruise Tourism Market size is expected to reach USD 9.44 billion.
Who are the key players in Cruise Tourism Market?
Carnival Corporation & Plc, Royal Caribbean Group, Norwegian Cruise Line Holdings Ltd, MSC Cruises and Costa Cruises are the major companies operating in the Cruise Tourism Market.
Which is the fastest growing region in Cruise Tourism Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cruise Tourism Market?
In 2024, the North America accounts for the largest market share in Cruise Tourism Market.
What years does this Cruise Tourism Market cover, and what was the market size in 2023?
In 2023, the Cruise Tourism Market size was estimated at USD 8.62 billion. The report covers the Cruise Tourism Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Cruise Tourism Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cruise Tourism Industry Report
Statistics for the 2024 Cruise Tourism market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cruise Tourism analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
