Cruise Tourism Market Size is Likely to Witness a Revenue of USD $13.6 Billion at a High CAGR of 10.4% During the Forecast Period Between 2022 and 2031

According to the report published by Allied Market Research, the global cruise tourism market garnered $5.3 billion in 2021, and is estimated to generate $13.6 billion by 2031, manifesting a CAGR of 10.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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The cruise tourism industry presents significant opportunities for luxury tourism. Luxury cruise ships offer a range of amenities and services that cater to the demands for affluent travelers, including gourmet dining, spa treatments, and personalized attention from highly trained staff. Many luxury cruise lines also offer unique and exclusive experiences, such as private islands, high-end shopping, and VIP access to cultural attractions. This appeals to travelers who value exclusivity, comfort, and a high level of service. The demand for luxury cruise travel has been steadily increasing in recent years, with many travelers seeking unique and memorable experiences. As a result, the luxury cruise market has become a significant opportunity of the overall cruise industry.

The research provides detailed segmentation of the global cruise tourism market based on type, duration, passenger age, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on type, the ocean cruise segment held the highest share in 2021, accounting for nearly one-third of the global cruise tourism market, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 11.3% from 2022 to 2031.

Based on duration, the 7 days segment accounted for the highest share in 2021, contributing to more than one-third of the global cruise tourism market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 11.3% from 2022 to 2031.

Based on passenger age, the 40-49 years segment accounted for the highest share in 2021, holding nearly one-fourth of the global cruise tourism market, and is expected to continue its leadership status during the forecast period. However, the 30-39 years segment is estimated to grow at the highest CAGR of 11.5% during the forecast period.

Based on region, North America held the largest share in 2021, contributing to nearly half of the global cruise tourism market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Europe region is expected to manifest the fastest CAGR of 11.1% during the forecast period. The research also analyzes regions including LAMEA and Asia-Pacific.

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Leading market players of the global cruise tourism market analyzed in the research include Silversea Cruises, seabourn cruise line, Ambassador Cruise Holidays Limited., AmaWaterways, Carnival Corporation & plc, Cosmos Tours Ltd., Kerala Shipping and Inland Navigation Corporation Ltd, PONANT, Mediterranean Shipping Company S.A., Norwegian Cruise Line.

The report provides a detailed analysis of these key players of the global cruise tourism market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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