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Global Cruise Market Share, Size, Analysis, Growth, Opportunities, Trends, Report, Forecast: By Type: Ocean Cruises, River Cruises; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Cruise Market Outlook
The global cruise market size attained a value of USD 7.08 billion in 2022. The market is further expected to grow at a CAGR of 11.50% between 2023 and 2028, to reach a value of USD 13.6 billion by 2028.
Key Trends in the Market
A cruise refers to a recreational activity in which large or small ships are used to sail around an ocean, sea, or river territory. Cruises also include various entertainment activities such as music, dance, magic, comedy, and theatre, and can be of various durations.
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- Growing enthusiasm to explore new destinations, emergence of women-centred trips, innovations in meals and beverage offerings, gaming, onboard health screenings, and expansion of activities on the ship are some of the key cruise market trends. Increasing number of Gen Z cruisers, owing to the influence of social media and changing preference towards luxurious living, is adding to the market growth.
- The growing use of advanced onboard technologies, such as online check-in, digital boarding pass, cabin key and light switch enabled through smartphones, ocean medallions, and tracking solutions, among others, is a crucial trend in the cruise market. Technologically advanced services are also likely to enhance the customer satisfaction, thereby bolstering the market dynamics.
Global Cruise Market Analysis
Based on type, the market is segmented into ocean cruises and river cruises. The regional markets for cruises are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global cruise market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
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- Carnival Corporation & plc
- Royal Caribbean Group
- MSC Cruises S.A
- Norwegian Cruise Line Holdings Ltd
- Disney Cruise Line
- Oceania Cruises S. de R.L.
- Regent Seven Seas Cruises, Inc.
- Celestyal Cruises
- Genting Hong Kong Limited
- Holland America Line N.V.
- Others
Global Cruise Market Share by Type
The ocean cruises segment, based on type, accounts for a healthy share of the cruise market. This can be attributed to the fact that ocean cruise offers a greater number of routes which expands the range of destinations for cruisers. As oceans are significantly large, ships and vessels of bigger sizes can be used for ocean cruises, increasing the number of activities and facilities supported while reducing costs as more people can be accommodated in a single vessel. Moreover, ocean cruise comes with notable advantages such as visits to notable coastal cities during the cruise and insurance against harsh weather conditions.
Global Cruise Market Share by Region
Based on region, North America occupies a sizable share of the market for cruises, supported by the immense popularity of cruises and a vast network of waterways. The strong foothold of cruise service providers in the United States, coupled with the stable living standards is driving the market. Meanwhile, the European region is likely to be a fast-growing region in the forecast period, owing to the growing popularity of river cruising. In line with this, the increasing inclination of the population towards shore excursions and cruise fares is further fuelling the Europe cruise market.
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Competitive Landscape
Carnival Corporation & plc is a leading cruise operator which provides cruise vessels designed to offer fun and entertainment to the customers. It was established in 1972 and is headquartered in Florida, United States.
Royal Caribbean Group is a shipping line company which owns three cruise brands; Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The company was founded in 1997 and is headquartered in Florida, United States.
MSC Cruises S.A is a family-owned global cruise line which was established in 1989 as a part of Mediterranean Shipping Company. Headquartered in Geneva, Switzerland, this company is one of the largest cruise providers across the world.
Other market players include Norwegian Cruise Line Holdings Ltd, Disney Cruise Line, Oceania Cruises S. de R.L., Regent Seven Seas Cruises, Inc., Celestyal Cruises, Genting Hong Kong Limited, and Holland America Line N.V., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Cruise Market Analysis
8.1 Key Industry Highlights
8.2 Global Cruise Historical Market (2018-2022)
8.3 Global Cruise Market Forecast (2023-2028)
8.4 Global Cruise Market by Type
8.4.1 Ocean Cruises
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 River Cruises
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Cruise Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
9 North America Cruise Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Cruise Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Cruise Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Cruise Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Cruise Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Carnival Corporation & plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Royal Caribbean Group
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 MSC Cruises S.A
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Norwegian Cruise Line Holdings Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Disney Cruise Line
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Oceania Cruises S. de R.L.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Regent Seven Seas Cruises, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Celestyal Cruises
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Genting Hong Kong Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Holland America Line N.V.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Cruise Market: Key Industry Highlights, 2018 and 2028
2. Global Cruise Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Cruise Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Cruise Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Cruise Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Cruise Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Cruise Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Cruise Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Cruise Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Cruise Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Cruise Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Cruise Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Cruise Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Cruise Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Cruise Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Cruise Market Structure
Key Questions Answered in the Report
The market reached a value of USD 7.08 billion in 2022.
The market is estimated to grow at a CAGR of 11.50% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of USD 13.6 billion by 2028.
The increasing affordability and availability of cruises, emergence of women-centred trips, innovations in meals and beverage offerings, onboard health screenings, and expansion of activities on ships are the major drivers of the market.
The key trends in the market include the growing enthusiasm to explore new destinations, increasing use of advanced onboard technologies, and rising popularity of cruises on social media.
Ocean cruises and river cruises are the primary types of cruises in the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
Carnival Corporation & plc, Royal Caribbean Group, MSC Cruises S.A, Norwegian Cruise Line Holdings Ltd, Disney Cruise Line, Oceania Cruises S. de R.L., Regent Seven Seas Cruises, Inc., Celestyal Cruises, Genting Hong Kong Limited, and Holland America Line N.V., among others, are the key players of the cruise market, according to the report.
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