Market Size of Cruise Tourism Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 9.44 Billion |
| Market Size (2029) | USD 14.31 Billion |
| CAGR (2024 - 2029) | 8.67 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cruise Tourism Market Analysis
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).
- 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 Industry Segmentation
Cruise tourism refers to holidays that are entirely or partly based on a cruise ship.
The cruise tourism market is segmented by type which includes a river cruise, ocean cruise, expedition cruise, theme cruise, adventure cruise, and other types, by duration, including 1- 7 days, 8-14 days, 15-20 days, and more than 21 days, by passenger age includes less than 12 Years, 13-19 years, 20-39 years, 40-59 years, and above 60 years, and by geography includes Asia-pacific, Europe, North America, South America, and the Middle East.
The report offers market size and forecasts for the cruise tourism market in terms of revenue (USD) for all the above segments.
| By Type | |
| River Cruise | |
| Ocean Cruise | |
| Expedition Cruise | |
| Theme Cruise | |
| Adventure Cruise | |
| Others |
| By Duration | |
| 1-7Days | |
| 8-14 Days | |
| 15-20 Days | |
| More than 21 Days |
| By Passenger Age | |
| Less than 12 years | |
| 13-19 Years | |
| 20-39 Years | |
| 40-59 Years | |
| Above 60 Years |
| Geography | ||||||||
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Cruise Tourism Market Size Summary
The cruise tourism industry has experienced significant transformation, emerging as a leading segment within the travel sector. This growth is driven by increasing disposable incomes and a growing appetite for unique travel experiences. Cruise lines have expanded their offerings to include a diverse range of itineraries, from tropical escapes to cultural journeys, and have introduced innovative features such as themed cruises and luxury onboard experiences. The industry's expansion is further supported by the development of specialized cruise terminals in popular tourist destinations, enhancing the ability to accommodate large ships and manage passenger flows efficiently.
In North America, the cruise tourism market is witnessing a surge in ocean cruise passengers, fueled by the convenience and variety of destinations offered by cruise lines. This trend is mirrored in Asia, where the rise of online booking platforms has made cruises more accessible, driving regional growth. The market is moderately competitive, with major players like Carnival Corporation, Royal Caribbean Group, and Norwegian Cruise Line Holdings Ltd dominating the landscape. Recent partnerships, such as those between TravClan and Resorts World Cruises in India, and Traveltek and Cruise Planners, highlight ongoing efforts to enhance the cruise experience and expand market reach.
Cruise Tourism Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Disposable Income is Driving the Market
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1.3 Market Restraints
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1.3.1 High Costs is Restraining the Market
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1.4 Market Opportunities
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1.4.1 Increasing Popularity of Themed Cruises is Creating an Opportunity
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1.5 Value Chain / Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights on Technological Innovations in the Market
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1.8 Impact of Covid-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 River Cruise
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2.1.2 Ocean Cruise
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2.1.3 Expedition Cruise
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2.1.4 Theme Cruise
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2.1.5 Adventure Cruise
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2.1.6 Others
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2.2 By Duration
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2.2.1 1-7Days
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2.2.2 8-14 Days
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2.2.3 15-20 Days
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2.2.4 More than 21 Days
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2.3 By Passenger Age
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2.3.1 Less than 12 years
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2.3.2 13-19 Years
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2.3.3 20-39 Years
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2.3.4 40-59 Years
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2.3.5 Above 60 Years
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2.4 Geography
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2.4.1 North America
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2.4.1.1 US
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 UK
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Japan
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2.4.3.4 Rest of Asia Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East
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2.4.5.1 UAE
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East
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Cruise Tourism Market Size FAQs
How big is the Cruise Tourism Market?
The Cruise Tourism Market size is expected to reach USD 9.44 billion in 2024 and grow at a CAGR of 8.67% to reach USD 14.31 billion by 2029.
What is the current Cruise Tourism Market size?
In 2024, the Cruise Tourism Market size is expected to reach USD 9.44 billion.
