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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cruise Market Size
The global cruise market size attained a value of USD 7.89 billion in 2023. The market is further expected to grow at a CAGR of 11.50% between 2024 and 2032, to reach a value of USD 21.02 billion by 2032.
Key Trends in the Market
A cruise refers to a recreational activity in which large or small ships are used to sail around an ocean, sea, or river territory. Cruises also include various entertainment activities such as music, dance, magic, comedy, and theatre, and can be of various durations.
- Growing enthusiasm to explore new destinations, emergence of women-centred trips, innovations in meals and beverage offerings, gaming, onboard health screenings, and expansion of activities on the ship are some of the key cruise market trends. Increasing number of Gen Z cruisers, owing to the influence of social media and changing preference towards luxurious living, is adding to the market growth.
- The growing use of advanced onboard technologies, such as online check-in, digital boarding pass, cabin key and light switch enabled through smartphones, ocean medallions, and tracking solutions, among others, is a crucial trend in the cruise market. Technologically advanced services are also likely to enhance the customer satisfaction, thereby bolstering the market dynamics.
Cruise Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 7.89 billion in 2023.
The market is estimated to grow at a CAGR of 11.50% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 21.02 billion by 2032.
The increasing affordability and availability of cruises, emergence of women-centred trips, innovations in meals and beverage offerings, onboard health screenings, and expansion of activities on ships are the major drivers of the market.
The key trends in the market include the growing enthusiasm to explore new destinations, increasing use of advanced onboard technologies, and rising popularity of cruises on social media.
Ocean cruises and river cruises are the primary types of cruises in the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
Carnival Corporation & plc, Royal Caribbean Group, MSC Cruises S.A, Norwegian Cruise Line Holdings Ltd, Disney Cruise Line, Oceania Cruises S. de R.L., Regent Seven Seas Cruises, Inc., Celestyal Cruises, Genting Hong Kong Limited, and Holland America Line N.V., among others, are the key players of the cruise market, according to the report.
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