Cruise Tourism Market size is estimated to grow by USD 4.24 billion; A descriptive analysis of five forces model, market dynamics, and segmentation- Technavio

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- According to Technavio, the global cruise tourism market size is estimated to grow by USD 4.24 billion from 2021 to 2026. However, the growth momentum will decelerate at a CAGR of 11.97% during the forecast period. North America will account for the largest share of the global market during the forecast period. 

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Cruise tourism market - Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Cruise tourism market – Customer Landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Cruise tourism market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type, Application (Ocean cruising and River cruising).

• The Ocean cruising segment will account for a significant share of the global market during the forecast period. Factors such as the passenger ticket include a variety of accommodations, amenities, meals, entertainment, round trips, service charges, complimentary beverages, free internet connectivity, pre-cruise packages, shore excursions, and others. Such facilities will support the market growth through this segment during the forecast period.

Geography Overview
By geography, the global cruise tourism market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cruise tourism market.

• North America is estimated to account for 44% of the growth of the global market during the forecast period. The rapid increase in the passenger flow in countries such as the US will facilitate the cruise tourism market growth in North America over the forecast period. Owing to the positive growth of the market, market vendors are expanding their onboard services, facilities, and amenities to differentiate their services from their competitors. Such factors will increase the market growth during the forecast period.

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Cruise tourism market – Market Dynamics
Key factor driving market growth

• One of the key factors driving the global cruise tourism market growth is the strong global economic recovery and an increasing number of high-net-worth individuals (HNWIs) in developed and developing economies.
• The growth is driven by an increase in domestic consumption and trade, and an uptick in investments, since the global economic recession in 2008. Thus, there has been a gradual increase in the preference for luxury lifestyles and spending over leisure travel.
• Moreover, the increase in the number of working women has further contributed to the increased income levels of individuals and their families. Such factors are expected to support market growth during the forecast period. 

Leading trends influencing the market 

• Growing consumer adoption of repositioning cruising, owing to tourers' inclination toward exploring different destinations by availing best cruise deals, is one of the key cruise tourism market trends that is expected to impact the industry positively in the forecast period. 
• Repositioning cruising refers to moving the ship from one sailing destination to another. The growth is attributed to the availability of cost-effective one-way flights, the inclusion of exotic itineraries, and cost advantages associated with repositioning cruising compared with regular.
• Thus, a substantial increase in the number of repositioning cruises is estimated to propel the growth of the market in focus during the forecast years.

Major challenges hindering market growth

• One of the key challenges to the global cruise tourism market growth is the rising environmental concerns, as these ships generate a substantial amount of waste on a daily basis. 
• This is due to the presence of many passengers and crew members. For instance, an average one-week cruise voyage with 2000 to 2500 passengers along with crew members would generate around 2,00,000 plus gallons of sewage stream that includes oily bilge water, greywater, and hazardous waste.
• In addition, it will also generate over six tons of solid waste and an enormous amount of air pollutants which can significantly affect marine pollution globally. Such factors are projected to hamper the growth of the current market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this cruise tourism market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cruise tourism market between 2022 and 2026
• Precise estimation of the size of the cruise tourism market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cruise tourism market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cruise tourism market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product Type

• 5.1 Market segments
• Exhibit 25: Chart on Product Type - Market share 2021-2026 (%)
• Exhibit 26: Data Table on Product Type - Market share 2021-2026 (%)

• 5.2 Comparison by Product Type 
• Exhibit 27: Chart on Comparison by Product Type
• Exhibit 28: Data Table on Comparison by Product Type

• 5.3 Passenger ticket - Market size and forecast 2021-2026 
• Exhibit 29: Chart on Passenger ticket - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Passenger ticket - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Passenger ticket - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Passenger ticket - Year-over-year growth 2021-2026 (%)

• 5.4 Onboard facilities - Market size and forecast 2021-2026 
• Exhibit 33: Chart on Onboard facilities - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Onboard facilities - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Onboard facilities - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Onboard facilities - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Product Type 
• Exhibit 37: Market opportunity by Product Type ($ million)

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 38: Chart on Application - Market share 2021-2026 (%)
• Exhibit 39: Data Table on Application - Market share 2021-2026 (%)

• 6.2 Comparison by Application 
• Exhibit 40: Chart on Comparison by Application
• Exhibit 41: Data Table on Comparison by Application

• 6.3 Ocean cruising - Market size and forecast 2021-2026 
• Exhibit 42: Chart on Ocean cruising - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Ocean cruising - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Ocean cruising - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Ocean cruising - Year-over-year growth 2021-2026 (%)

• 6.4 River cruising - Market size and forecast 2021-2026 
• Exhibit 46: Chart on River cruising - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on River cruising - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on River cruising - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on River cruising - Year-over-year growth 2021-2026 (%)

• 6.5 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2021-2026 (%)
• Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2021-2026 
• Exhibit 56: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 57: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 58: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 59: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.4 Europe - Market size and forecast 2021-2026 
• Exhibit 60: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 61: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 62: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 63: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.5 APAC - Market size and forecast 2021-2026 
• Exhibit 64: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 65: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 66: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 67: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.6 South America - Market size and forecast 2021-2026 
• Exhibit 68: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.8 US - Market size and forecast 2021-2026 
• Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.9 China - Market size and forecast 2021-2026 
• Exhibit 80: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.10 Germany - Market size and forecast 2021-2026 
• Exhibit 84: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.11 UK - Market size and forecast 2021-2026 
• Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 8.12 Market opportunity by geography 
• Exhibit 92: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 93: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 94: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 95: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 96: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 97: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 98: Matrix on vendor position and classification

• 11.3 AmaWaterways LLC
• Exhibit 99: AmaWaterways LLC - Overview
• Exhibit 100: AmaWaterways LLC - Product / Service
• Exhibit 101: AmaWaterways LLC - Key offerings

• 11.4 Ambassador Cruise Holidays Ltd. 
• Exhibit 102: Ambassador Cruise Holidays Ltd. - Overview
• Exhibit 103: Ambassador Cruise Holidays Ltd. - Product / Service
• Exhibit 104: Ambassador Cruise Holidays Ltd. - Key offerings

• 11.5 American Cruise Lines 
• Exhibit 105: American Cruise Lines - Overview
• Exhibit 106: American Cruise Lines - Product / Service
• Exhibit 107: American Cruise Lines - Key offerings

• 11.6 Carnival Corp. and Plc 
• Exhibit 108: Carnival Corp. and Plc - Overview
• Exhibit 109: Carnival Corp. and Plc - Business segments
• Exhibit 110: Carnival Corp. and Plc - Key offerings
• Exhibit 111: Carnival Corp. and Plc - Segment focus

• 11.7 MSC Mediterranean Shipping Co. SA 
• Exhibit 112: MSC Mediterranean Shipping Co. SA - Overview
• Exhibit 113: MSC Mediterranean Shipping Co. SA - Product / Service
• Exhibit 114: MSC Mediterranean Shipping Co. SA - Key news
• Exhibit 115: MSC Mediterranean Shipping Co. SA - Key offerings

• 11.8 Norwegian Cruise Line Holdings Ltd. 
• Exhibit 116: Norwegian Cruise Line Holdings Ltd. - Overview
• Exhibit 117: Norwegian Cruise Line Holdings Ltd. - Product / Service
• Exhibit 118: Norwegian Cruise Line Holdings Ltd. - Key offerings

• 11.9 Ocean World Ltd.
• Exhibit 119: Ocean World Ltd. - Overview
• Exhibit 120: Ocean World Ltd. - Product / Service
• Exhibit 121: Ocean World Ltd. - Key offerings

• 11.10 Royal Caribbean Cruises Ltd. 
• Exhibit 122: Royal Caribbean Cruises Ltd. - Overview
• Exhibit 123: Royal Caribbean Cruises Ltd. - Product / Service
• Exhibit 124: Royal Caribbean Cruises Ltd. - Key offerings

• 11.11 Saga Group Ltd
• Exhibit 125: Saga Group Ltd - Overview
• Exhibit 126: Saga Group Ltd - Business segments
• Exhibit 127: Saga Group Ltd - Key offerings
• Exhibit 128: Saga Group Ltd - Segment focus

• 11.12 The Walt Disney Co.
• Exhibit 129: The Walt Disney Co. - Overview
• Exhibit 130: The Walt Disney Co. - Business segments
• Exhibit 131: The Walt Disney Co. - Key offerings
• Exhibit 132: The Walt Disney Co. - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 133: Inclusions checklist
• Exhibit 134: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 135: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 136: Research methodology
• Exhibit 137: Validation techniques employed for market sizing
• Exhibit 138: Information sources

• 12.5 List of abbreviations 
• Exhibit 139: List of abbreviations

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