Global Cruise Market Size, Share & Trends Analysis Report By Type (Ocean Cruises and River Cruises), By Regional Outlook and Forecast, 2024 - 2031

Global Cruise Market Size, Share & Trends Analysis Report By Type (Ocean Cruises and River Cruises), By Regional Outlook and Forecast, 2024 - 2031


The Global Cruise Market size is expected to reach $19.7 billion by 2031, rising at a market growth of 11.1% CAGR during the forecast period.

North America is a powerhouse in the cruise market, with a strong presence in both the supply and demand sides of the industry. Thus, the North America region acquired $3,828.4 million revenue in 2023. the United States has several initiatives that support the growth of cruise tourism, particularly in key cruise ports and regions. One prominent example is the Cruise Passenger Protection Act, which enhanced consumer protections for cruise passengers.

Various interconnected factors influence the rise in disposable income, each contributing to the overall growth in personal earnings and spending power. Economic growth is a primary driver, creating a favorable environment for job creation and wage increases. Therefore, the increasing disposable incomes of travelers will aid in expanding the market.

Additionally, Cruise companies are investing heavily in expanding their fleets to meet this growing demand and offer passengers a wider range of cruise options. One notable example of this expansion is the introduction of new, larger ships with innovative features and amenities. Hence, these factors will augment the development of the market.

However, Competition from other travel options significantly impacts the cruise industry's growth. All-inclusive resorts, for example, offer a similar all-in-one vacation experience with the convenience of staying in one location. These resorts often provide a range of amenities and activities, such as dining, entertainment, and recreational facilities, which can compete with the offerings of a cruise ship. Therefore, these factors may hamper the development of the market.

Type Outlook

Based on type, the market is characterized into ocean cruises and river cruises. The ocean cruises segment garnered 79.3% revenue share in the market in 2023. Ocean cruises allow passengers to explore the world's oceans while enjoying various onboard amenities and activities. Moreover, ocean cruises are popular for travelers seeking a convenient and immersive vacation experience.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured a considerable 23.3% revenue share in the market in 2023. The Asia Pacific market has seen rapid growth in recent years, driven by rising disposable incomes, an expanding middle class, and increasing interest in travel and tourism among Asian consumers. This growth has made the region one of the fastest-growing markets globally.

Recent Strategies Deployed in the Market
  • Feb-2024: Royal Caribbean Group partnered with Chantiers de l'Atlantique, a French shipbuilder. Under this partnership, Royal Caribbean would order a seventh Oasis Class ship to its multinational fleet.
  • Nov-2023: Royal Caribbean Group came into partnership with IBS Software, a provider of information technology software solutions. Under this partnership, Royal Caribbean would offer a perfect vacation experience to its guests and provide even better customized services at each step of the trip. Additionally, Royal Caribbean would also install the iTravelCruise travel platform of IBS to place its guests at the center of the retail experience.
  • May-2023: MSC Cruises S.A. partnered with Formula 1, the highest class of international racing. Under this partnership, MSC Cruises would bring ships to choose Grand Prix weekends, which offer fans a special hospitality experience from track to ship. In addition to this, both companies would move towards sustainable change.
  • Mar-2023: Disney Cruise Line collaborated with the Singapore Tourism Board, a statutory board under the Ministry of Trade and Industry of the Government of Singapore. Under this collaboration, Disney Cruise would homeport a brand-new Disney cruise ship primarily in Singapore. Additionally, the introduction of Disney Cruise Line ship in Singapore would include millions of local and foreign cruise passengers.
  • Dec-2022: Royal Caribbean Group partnered with iCON Infrastructure LLP, an independent investment group. Under this partnership, Royal Caribbean would serve exceptional cruising experiences, to its guests at the best destinations in the world. Royal Caribbean would also create, own, and control a portfolio of cruise terminals in key strategic markets.
List of Key Companies Profiled
  • Carnival Corporation & plc.
  • Royal Caribbean Cruises Ltd.
  • MSC Cruises S.A. (MSC Mediterranean Shipping Company SA)
  • Norwegian Cruise Line Holdings Ltd.
  • Disney Cruise Line (The Walt Disney Company)
  • Cruiseaway (Dreamlines GmbH)
  • Island Queen Cruises
  • American Cruise Lines
  • The Independent Traveler, Inc. (Tripadvisor Inc.)
  • Viking River Cruises Inc.
Global Cruise Market Report Segmentation

By Type
  • Ocean Cruises
  • River Cruises
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA


Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Cruise Market, by Type
1.4.2 Global Cruise Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Strategies Deployed in Cruise Market
Chapter 5. Global Cruise Market by Type
5.1 Global Ocean Cruises Market by Region
5.2 Global River Cruises Market by Region
Chapter 6. Global Cruise Market by Region
6.1 North America Cruise Market
6.1.1 North America Cruise Market by Type
6.1.1.1 North America Ocean Cruises Market by Country
6.1.1.2 North America River Cruises Market by Country
6.1.2 North America Cruise Market by Country
6.1.2.1 US Cruise Market
6.1.2.1.1 US Cruise Market by Type
6.1.2.2 Canada Cruise Market
6.1.2.2.1 Canada Cruise Market by Type
6.1.2.3 Mexico Cruise Market
6.1.2.3.1 Mexico Cruise Market by Type
6.1.2.4 Rest of North America Cruise Market
6.1.2.4.1 Rest of North America Cruise Market by Type
6.2 Europe Cruise Market
6.2.1 Europe Cruise Market by Type
6.2.1.1 Europe Ocean Cruises Market by Country
6.2.1.2 Europe River Cruises Market by Country
6.2.2 Europe Cruise Market by Country
6.2.2.1 Germany Cruise Market
6.2.2.1.1 Germany Cruise Market by Type
6.2.2.2 UK Cruise Market
6.2.2.2.1 UK Cruise Market by Type
6.2.2.3 France Cruise Market
6.2.2.3.1 France Cruise Market by Type
6.2.2.4 Russia Cruise Market
6.2.2.4.1 Russia Cruise Market by Type
6.2.2.5 Spain Cruise Market
6.2.2.5.1 Spain Cruise Market by Type
6.2.2.6 Italy Cruise Market
6.2.2.6.1 Italy Cruise Market by Type
6.2.2.7 Rest of Europe Cruise Market
6.2.2.7.1 Rest of Europe Cruise Market by Type
6.3 Asia Pacific Cruise Market
6.3.1 Asia Pacific Cruise Market by Type
6.3.1.1 Asia Pacific Ocean Cruises Market by Country
6.3.1.2 Asia Pacific River Cruises Market by Country
6.3.2 Asia Pacific Cruise Market by Country
6.3.2.1 China Cruise Market
6.3.2.1.1 China Cruise Market by Type
6.3.2.2 Japan Cruise Market
6.3.2.2.1 Japan Cruise Market by Type
6.3.2.3 India Cruise Market
6.3.2.3.1 India Cruise Market by Type
6.3.2.4 South Korea Cruise Market
6.3.2.4.1 South Korea Cruise Market by Type
6.3.2.5 Australia Cruise Market
6.3.2.5.1 Australia Cruise Market by Type
6.3.2.6 Malaysia Cruise Market
6.3.2.6.1 Malaysia Cruise Market by Type
6.3.2.7 Rest of Asia Pacific Cruise Market
6.3.2.7.1 Rest of Asia Pacific Cruise Market by Type
6.4 LAMEA Cruise Market
6.4.1 LAMEA Cruise Market by Type
6.4.1.1 LAMEA Ocean Cruises Market by Country
6.4.1.2 LAMEA River Cruises Market by Country
6.4.2 LAMEA Cruise Market by Country
6.4.2.1 Brazil Cruise Market
6.4.2.1.1 Brazil Cruise Market by Type
6.4.2.2 Argentina Cruise Market
6.4.2.2.1 Argentina Cruise Market by Type
6.4.2.3 UAE Cruise Market
6.4.2.3.1 UAE Cruise Market by Type
6.4.2.4 Saudi Arabia Cruise Market
6.4.2.4.1 Saudi Arabia Cruise Market by Type
6.4.2.5 South Africa Cruise Market
6.4.2.5.1 South Africa Cruise Market by Type
6.4.2.6 Nigeria Cruise Market
6.4.2.6.1 Nigeria Cruise Market by Type
6.4.2.7 Rest of LAMEA Cruise Market
6.4.2.7.1 Rest of LAMEA Cruise Market by Type
Chapter 7. Company Profiles
7.1 Carnival Corporation & plc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 SWOT Analysis
7.2 Royal Caribbean Cruises Ltd.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Recent strategies and developments:
7.2.4.1 Partnerships, Collaborations, and Agreements:
7.2.4.2 Acquisition and Mergers:
7.2.5 SWOT Analysis
7.3 MSC Cruises S.A. (MSC Mediterranean Shipping Company SA)
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Partnerships, Collaborations, and Agreements:
7.4 Norwegian Cruise Line Holdings Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 SWOT Analysis
7.5 Disney Cruise Line (The Walt Disney Company)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Recent strategies and developments:
7.5.4.1 Partnerships, Collaborations, and Agreements:
7.5.5 SWOT Analysis
7.6 Cruiseaway (Dreamlines GmbH)
7.6.1 Company Overview
7.7 Island Queen Cruises
7.7.1 Company Overview
7.8 American Cruise Lines
7.8.1 Company Overview
7.9 The Independent Traveler, Inc. (Tripadvisor Inc.)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.10. Viking River Cruises Inc.
7.10.1 Company Overview
Chapter 8. Winning Imperatives of Cruise Market

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