Cruise ships are the large luxury passenger ship used mostly for vacationing. As per Cruise Lines International Association (CLIA), around 30 million people cruised globally in 2019 and the expected number for 2020 was around 32 million. It is the fastest-growing segment in the leisure travel market with capacity utilization over 100%. The cruise industry was around $126 billion in 2016 which reached around $150 billion in 2019. Some of the major factors for the growth of the global cruise industry include increasing attraction of generation ‘Z’ and millennial toward the cruise industry which comprises the largest population bases in the US. Moreover, the increasing popularity of Cruise in the emerging economies such as China, and India, increasing global disposable income and the introduction of two and three-day micro cruises are also augmenting the industry.
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In January 2020, there were around 280 cruise lines ships operated by 55 cruise companies and 19 cruises were scheduled to be launched in 2020. The cruise companies are moving toward more sustainable operations by reducing carbon footprints in the sea. For instance, due to increasing pollution from ships in the sea, in April 2018 the International Maritime Organization adopted the strategy to reduce the carbon footprint from ships by 50% by 2050 as compared to 2008. As per new emission standards, sulfur in the fuel is limited to 0.5% from January 2020.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Segmentation
- Cruise Lines
- Cruise Manufacturer
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Carnival Corp. & PLC
- Disney Cruise Line Inc.
- Fincantieri S.p.A.
- Genting Hong Kong Ltd.
- Hapag-Lloyd AG
- Hurtigruten Ltd.
- Mediterranean Shipping Company S.A
- Mitsubishi Shipbuilding Co., Ltd.
- Norwegian Cruise Line Holdings Ltd.
- Royal Caribbean Cruises Ltd.
- STX Offshore & Shipbuilding Co., Ltd.
- Meyer Werft GmbH & Co. KG
- TUI Cruises GmbH
The Report Covers
- Comprehensive research methodology of the global cruise industry.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global cruise industry.
- Insights about market determinants which are stimulating the global cruise industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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