Cruise Tourism - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Cruise Tourism - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

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).

Key Highlights

• 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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support