Product Code: MCP27606
Global Cruise Market to Reach US$19.6 Billion by 2030
The global market for Cruise estimated at US$9.2 Billion in the year 2023, is expected to reach US$19.6 Billion by 2030, growing at a CAGR of 11.4% over the analysis period 2023-2030. Ocean Cruise, one of the segments analyzed in the report, is expected to record a 11.2% CAGR and reach US$15.6 Billion by the end of the analysis period. Growth in the River Cruise segment is estimated at 12.2% CAGR over the analysis period.
The U.S. Market is Estimated at US$2.4 Billion While China is Forecast to Grow at 10.6% CAGR
The Cruise market in the U.S. is estimated at US$2.4 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.0 Billion by the year 2030 trailing a CAGR of 10.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.4% and 9.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.
Cruise - Key Trends and Drivers
Cruise vacations have become a popular choice for travelers seeking a combination of luxury, convenience, and adventure. Modern cruise ships are essentially floating resorts, offering an extensive array of amenities including fine dining, diverse entertainment options, fitness centers, spas, and various recreational activities such as rock climbing, surfing simulators, and water parks. These vessels travel to a wide range of destinations, from tropical islands and pristine beaches to historic European cities and exotic locations in Asia and South America, allowing passengers to explore multiple locales without the hassle of constant packing and unpacking. The cruise industry caters to a broad demographic, from families and honeymooners to retirees and solo travelers, with tailored experiences such as themed cruises (e.g., culinary, music, or wellness cruises), family-friendly itineraries with kid-centric activities, and adult-only voyages that offer a more tranquil environment. Over the past few decades, the industry has experienced significant growth, driven by continuous innovations in ship design, an expansion of onboard amenities, and targeted marketing strategies aimed at attracting a diverse range of clientele.
Technological advancements have played a crucial role in transforming the cruise experience, making it more appealing and accessible to modern travelers. Today's cruise ships are equipped with state-of-the-art navigation and safety systems that ensure smooth and secure voyages across various seas and weather conditions. Onboard technology has significantly enhanced passenger convenience and engagement, with high-speed internet enabling seamless connectivity, interactive apps allowing for easy booking of activities and dining reservations, and virtual reality entertainment options providing immersive experiences. Environmental sustainability has also become a major focus, with cruise lines investing in eco-friendly technologies to minimize their environmental footprint. This includes advanced wastewater treatment systems, energy-efficient engines, and the adoption of LNG (liquefied natural gas) as a cleaner alternative to traditional marine fuels. These innovations not only help reduce the environmental impact of cruising but also resonate with environmentally conscious travelers. Additionally, the integration of AI and big data analytics allows cruise operators to optimize routes, manage resources more efficiently, and personalize guest experiences based on individual preferences and behaviors, further enhancing the overall travel experience.
The growth in the cruise market is driven by several factors, including the increasing disposable income of middle-class consumers, the expanding availability of diverse and affordable cruise options, and the rising demand for unique travel experiences. Economic growth in emerging markets has opened up new customer bases, with more people seeking the allure of cruising as a convenient and enjoyable way to travel. Furthermore, the trend towards experiential travel, where travelers seek unique and memorable experiences, has fueled demand for themed cruises and journeys to exotic destinations. Technological advancements have also played a pivotal role in market expansion, enabling cruise lines to offer enhanced onboard experiences and improved operational efficiencies. Marketing strategies targeting younger generations, such as millennials and Gen Z, through social media and influencer partnerships, have successfully broadened the appeal of cruising. Additionally, the industry’s focus on health and safety measures has helped regain consumer confidence and stimulate market recovery. These combined factors are driving robust growth in the cruise market, positioning it for continued expansion in the coming years.
Select Competitors (Total 74 Featured) -
- AmaWaterways River Cruises
- Avalon Waterways Inc
- Azamara Cruises
- CroisiEurope
- Cruiseaway Pty Ltd.
- Crystal Cruises
- Disney Cruise Line
- FINCANTIERI SpA
- Fred Olsen Cruise Lines
- Grand Circle Travel
- Hanwha Ocean Co., Ltd.
- Holland America Line
- Island Queen Cruises & Tours
- Luxury Cruise Connections
- Royal Caribbean International
- Viking River Cruises
- Virgin Cruises Intermediate Limited
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Cruise - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Rising Demand for Unique Travel Experiences Spurs Growth
- Increasing Disposable Income Propels Growth in Cruise Market
- Technological Advancements in Onboard Amenities Drive Adoption
- Expanding Availability of Affordable Cruise Options Expands Addressable Market Opportunity
- Economic Growth in Emerging Markets Generates New Opportunities
- Experiential Travel Trends Strengthen Business Case for Themed Cruises
- Environmental Sustainability Efforts Drive Innovation in Cruise Technology
- Integration of AI and Big Data Analytics Enhances Personalized Guest Experiences
- Focus on Health and Safety Measures Rebuilds Consumer Confidence
- Expansion of Global Cruise Destinations Accelerates Demand
- Marketing Strategies Targeting Millennials and Gen Z Propel Growth
- Development of Eco-Friendly Technologies Expands Market Appeal
- Investment in State-of-the-Art Navigation and Safety Systems Strengthens Market Position
- Increasing Popularity of Same-Day and Next-Day Cruise Options Drives Market Growth
- Innovations in Ship Design and Construction Sustain Growth
- Growing Focus on Reducing Carbon Footprint Spurs Adoption of LNG-Powered Ships
- Integration of Smart Technology for Real-Time Monitoring and Control Generates Efficiency
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Cruise Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 3: World Historic Review for Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 4: World 16-Year Perspective for Cruise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for Ocean Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 6: World Historic Review for Ocean Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 7: World 16-Year Perspective for Ocean Cruise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for River Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 9: World Historic Review for River Cruise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 10: World 16-Year Perspective for River Cruise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 11: USA Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 12: USA Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 13: USA 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- CANADA
- TABLE 14: Canada Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 15: Canada Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 16: Canada 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- JAPAN
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 17: Japan Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 18: Japan Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 19: Japan 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- CHINA
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 20: China Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 21: China Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 22: China 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- EUROPE
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 23: Europe Recent Past, Current & Future Analysis for Cruise by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 24: Europe Historic Review for Cruise by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 25: Europe 16-Year Perspective for Cruise by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
- TABLE 26: Europe Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: Europe Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 28: Europe 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- FRANCE
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 29: France Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 30: France Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 31: France 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- GERMANY
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 32: Germany Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 33: Germany Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 34: Germany 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- ITALY
- TABLE 35: Italy Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 36: Italy Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 37: Italy 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- UNITED KINGDOM
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 38: UK Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 39: UK Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 40: UK 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- REST OF EUROPE
- TABLE 41: Rest of Europe Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 42: Rest of Europe Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 43: Rest of Europe 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- ASIA-PACIFIC
- Cruise Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 44: Asia-Pacific Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 45: Asia-Pacific Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 46: Asia-Pacific 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
- REST OF WORLD
- TABLE 47: Rest of World Recent Past, Current & Future Analysis for Cruise by Type - Ocean Cruise and River Cruise - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 48: Rest of World Historic Review for Cruise by Type - Ocean Cruise and River Cruise Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 49: Rest of World 16-Year Perspective for Cruise by Type - Percentage Breakdown of Value Sales for Ocean Cruise and River Cruise for the Years 2014, 2024 & 2030
IV. COMPETITION