Global Cruise Ships Tourism Market Size, Share, and COVID-19 Impact Analysis, By Type (River Cruise, Ocean Cruise, Expedition Cruise, Theme Cruise, Adventure Cruise, and others), By Duration (1-3 days, 4-6 days, 7 days, 8 to 13 days, 14 days, 15-20 days, and More than 21 days), By Passenger Age (Less than 12 Years, 13-19 Years, 20-29 Years, 30-39 years, 40-49 years, 50-59 years, and Above 60 years), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Industry: Consumer Goods

RELEASE DATE Feb 2024
REPORT ID SI3634
PAGES 200
REPORT FORMAT PathSoft

Global Cruise Ships Tourism Market Insights Forecasts to 2033  

  • The Global Cruise Ships Tourism Market Size was Valued at USD 7.4 Billion in 2023.
  • The Market Size is Growing at a CAGR of 11.8% from 2023 to 2033
  • The Worldwide Cruise Ships Tourism Market Size is Expected to Reach USD 22.6 Billion by 2033
  • Europe is Expected to Grow the Fastest during the Forecast period

Global Cruise Ships Tourism Market

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The Global Cruise Ships Tourism Market Size is Anticipated to Exceed USD 22.6 Billion by 2033, Growing at a CAGR of 11.8% from 2023 to 2033.

 

Market Overview

Travel that revolves around a cruise ship, whether fully or partially, is referred to as cruise tourism. Additionally, by visiting multiple locations throughout their journey, cruise tourists can have multi-center vacations. Cruise ships can be found on rivers or in oceans, and their sizes range from tiny yachts to megaships. The Mediterranean, Caribbean, and Arctic are a few of the well-liked cruise tourist destinations. An all-inclusive vacation on a cruise ship for at least 48 hours with a scheduled itinerary that includes calls at different ports or towns is known as cruise tourism. It is a high-end kind of travel. Cruise ships are among the biggest in the world in terms of internal volume; they can accommodate thousands of passengers on a single journey and are larger than many cargo ships. Cruise tourism offers a plethora of amenities that greatly enhance passengers' comfort and pleasure when sailing. Cruise tourism is associated with maritime resorts, competing with traditionally advertised destinations and providing travelers with an alternate vacation option that is increasing the industry's market share. Cruise tourism's origins date back to 1822, demonstrating its continuous appeal. Most importantly, cruise travel is essential to supporting national economies. The Caribbean, which stands out as a popular location for ocean cruises and offers passengers lucrative prospects, is a perfect example of this.

 

Report Coverage

This research report categorizes the market for the global cruise ships tourism market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cruise ships tourism market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cruise ships tourism market.

Global Cruise Ships Tourism Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 7.4 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:11.8%
2033 Value Projection:USD 22.6 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:120
Segments covered:and COVID-19 Impact Analysis, By Type, By Duration, By Region,
Companies Covered: Ambassador Cruise Holidays Ltd., Azamara, Compagnie du Ponant, Cosmos Tours Ltd., The Walt Disney Co., MSC Mediterranean Shipping Co. SA, Carnival Corp. and Plc, AmaWaterways, Virgin Cruises Intermediate Ltd., Riviera Travel, Genting Hong Kong Ltd., KSINC, LaVista Travel, Norwegian Cruise Line Holdings Ltd., Ocean World Ltd., Royal Caribbean Cruises Ltd., SAGA PLC, TUI AG, and
Pitfalls & Challenges:COVID-19 Empact,Challenges, Future, Growth, & Analysis

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Driving Factors

The market for cruise tourism is, in particular, driven in part by the growing desire for upscale experiences. Nowadays, a lot of customers are prepared to spend more for experiences that are distinctive and unforgettable. High-end cruise ships have become more and more popular as a result, providing a variety of opulent amenities and activities. Spacious accommodations, fine dining selections, top-notch entertainment, spa services, and other amenities that are intended to provide guests an opulent experience are frequently found aboard these luxury cruise ships. To further improve the whole experience, a lot of luxury cruise lines also provide access to private islands or beaches and exclusive shore excursions. In the upcoming years, it is projected that the market share of cruise tourism would increase due to the rising demand for luxury travel, which is being enabled by upscale cruise ships and luxury cruise lines.

 

Restraining Factors

An ongoing key problem for the cruise tourism business is safety and security. Events and mishaps like accidents between ships, fires, and other calamities can result in fatalities, injuries, and destruction of property. These occurrences have the potential to negatively affect cruise operators' reputations and deter travelers from making cruise reservations.  A further safety and security worry for the cruise tourism sector is the possibility of terrorism. Cruise ships are thought to be high-value targets, and an attack might have disastrous effects on the sector, which would likely impede the expansion of the cruise tourism market.

 

Market Segmentation

The Global Cruise Ships Tourism Market share is classified into type, duration, and passenger age.

  • The ocean cruise segment is expected to hold the largest share of the global cruise ships tourism market during the forecast period.   

The cruise ships tourism market is categorized by type into river cruise, ocean cruise, expedition cruise, theme cruise, adventure cruise, and others. Among these, the ocean cruise segment is expected to hold a greatest share of the cruise ships tourism market during the forecast period. The growth of new ports of call and destinations, the appeal of themed excursions (such as adventure, music, or gourmet vacations), and the launch of new ships with cutting-edge features and facilities are all included in the ocean cruise market. To draw and keep customers, cruise companies have been making significant investments in technology and onboard amenities like virtual reality rides, robot bartenders, and immersive entertainment systems. Over time, there has been a notable surge in demand for cruise tourism as more individuals choose to take ship holidays.

 

  • The 7 days segment is expected to grow at the highest pace in the global cruise ships tourism market during the forecast period.    

Based on the duration, the global cruise ships tourism market is divided into 1-3 days, 4-6 days, 7 days, 8 to 13 days, 14 days, 15-20 days, and more than 21 days. Among these, the 7 days segment is expected to grow at the highest pace in the cruise ships tourism market during the forecast period. The demand for cruise travel has increased as a result, especially for seven-day cruises. Cruising has grown in popularity as a mode of transportation, especially for trips lasting seven days or longer. Cruises provide a practical and affordable option to tour several locations without having to worry about lodging, food, or transportation, as more people search for all-inclusive vacations. To satisfy the rising demand, cruise lines have been making significant investments in extending their fleet and modernizing their ships.

 

  • The 40-49 years segment is expected to hold the largest share of the global Cruise Ships Tourism market during the forecast period.

Based on the passenger age, the global cruise ships tourism market is divided into less than 12 years, 13-19 years, 20-29 years, 30-39 years, 40-49 years, 50-59 years, and above 60 years. Among these, the 40-49 years segment is expected to hold the largest share of the global cruise ships tourism market during the forecast period. Because they can afford the more upscale cruises with greater facilities and services, people in this age range typically have more solid finances. Additionally, they are more likely to be open to trying out novel experiences like eco-tourism or cultural outings, and they could even be more prepared to shell out cash for them. During the analysis period, these factors are expected to accelerate the rise of the 40–49 year old segment.

 

Regional Segment Analysis of the Global Cruise Ships Tourism Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global cruise ships tourism market over the predicted timeframe.

Global Cruise Ships Tourism Market

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North America is projected to hold the largest share of the global cruise ships tourism market over the predicted years. This is because cruising is becoming a more and more popular vacation option. The ease, comfort, and elegance of cruising have drawn a lot of people, which has aided in the industry's expansion. Compared to younger generations, baby boomers in North America are more likely to go on cruises. Furthermore, the number of people who can afford to take cruises has expanded due to the growing middle class in North America, which is fueling demand. Cruise ships can visit a variety of locations in North America, including the Caribbean, Mexico, Alaska, and Canada. The variety of these locations draws a wide spectrum of visitors and has fueled the expansion of the cruise tourism industry in the area.

 

Europe is expected to grow at the fastest pace in the global cruise ships tourism market during the forecast period. This is because Europe has a variety of cruise experiences, with the Baltic Sea, Northern Europe, and the Mediterranean being popular cruise routes. Riverboat excursions on the Danube, Rhine, and other rivers are also well-liked. Concerns about sustainability and the environment are growing, which has prompted the adoption of greener technologies and travel plans with reduced environmental impact.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cruise ships tourism along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Ambassador Cruise Holidays Ltd.
  • Azamara
  • Compagnie du Ponant
  • Cosmos Tours Ltd.
  • The Walt Disney Co.
  • MSC Mediterranean Shipping Co. SA
  • Carnival Corp. and Plc
  • AmaWaterways
  • Virgin Cruises Intermediate Ltd.
  • Riviera Travel
  • Genting Hong Kong Ltd.
  • KSINC
  • LaVista Travel
  • Norwegian Cruise Line Holdings Ltd.
  • Ocean World Ltd.
  • Royal Caribbean Cruises Ltd.
  • SAGA PLC
  • TUI AG
  • Viking Cruises

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

 

  • In July 2022, in order to create a unique idea for Carnival's North American guests when COSTA® by CARNIVAL® debuts in the spring of 2023 and Costa Venezia TM joins the Carnival fleet sailing from New York, Carnival Corp.'s Carnival Cruise Line cooperated with Costa Cruises, which is Italy's favorite cruise line. Following Costa Venezia, Costa Firenze TM will set sail from Long Beach in the spring of 2024.

 

  • In November 2022, in India, the much-anticipated Ganga Vilas project was launched. It requires the establishment of a cruise line with a 4,000-kilometer itinerary. The opulent ship will depart from Varanasi, Uttar Pradesh, in 2023 and sail through Bangladesh to Dibrugarh, Assam.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cruise Ships Tourism Market based on the below-mentioned segments: 

 

Global Cruise Ships Tourism Market, By Type

  • River Cruise
  • Ocean Cruise
  • Expedition Cruise
  • Theme Cruise
  • Adventure Cruise
  • Others

 

Global Cruise Ships Tourism Market, By Duration

  • 1-3 days
  • 4-6 days
  • 7 days
  • 8 to 13 days
  • 14 days
  • 15-20 days
  • More than 21 days

 

Global Cruise Ships Tourism Market, By Passenger Age

  • Less than 12 Years
  • 13-19 Years
  • 20-29 Years
  • 30-39 years
  • 40-49 years
  • 50-59 years
  • Above 60 years

 

Global Cruise Ships Tourism Market, By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
  • South America
  • Brazil
  • Argentina
  • Rest of South America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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