Cruise Market To Reach $25.06 Billion By 2033 | CAGR: 12.4%

Cruise Market Growth & Trends

The global cruise market size is expected to reach USD 25.06 billion by 2033, registering a CAGR of 12.4% from 2026 to 2033, according to a new report by Grand View Research, Inc. The market growth is substantially driven by the rising popularity of the theme cruises that attract various consumer groups. The kids-related theme, yoga theme, mystery theme, and adventure theme are likely to offer extra fun with destination traveling, rather than traditional cruises.

According to the Cruise Lines International Association, gen z is likely to become the largest consumer of the cruise industry outpacing millennials. This generation seeks out unique and authentic experiences and seeks out travel more enthusiastically, which is expected to drive the enlargement of the cruises market. The market growth is restrained by the limited companies playing in the market and rising concerns over environmental pollution of the ocean bodies, destroying marine wildlife.

The COVID-19 pandemic negatively impacted the global cruises industry. At the break of the pandemic, a significant number of cruises were stranded in 2019 and were canceled in 2020. According to the Cruise Lines International Association, passenger volume fell more than 80.0% worldwide from 2019 to 2020. However, with the vaccination process and resumed activities along with relaxed restrictions, the ocean as well as river cruising industry is slowly starting operations with the required care.

The ocean cruises segment dominated the market and held more than 80.0% revenue share, in 2022. The worldwide ocean cruise industry is more developed as compared to the counterpart type of cruises, with more ocean cruise lines operating in the segment. Vacationers’ preference for ocean cruises is higher as compared to the river cruises on the account of spacious decks and rooms, exciting on-board/on-shore activities, and more intercontinental destinations.

North America ranked first in the market revenue share during 2022, in the global cruises market, recording around 50.0% share. The large market share of North America is mainly attributed to the United States' higher share due to the consumer’s elevated spending on travel and tourism, the strong presence of key players, and the highly developed cruise industry. Major players dominating the market are Carnival Corporation & Plc. and Royal Cruise Group, whose major customers and revenue generated is from the North American region, attributing the highest market share.

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Cruise Market Report Highlights

• Ocean cruises dominated the global market with the largest market share of 79.7% in 2025. Consumer demand for ocean cruises is increasing as travelers seek all-inclusive, hassle-free vacation experiences that combine transportation, accommodation, dining, and entertainment into a single offering.

• The river cruises are expected to grow at a CAGR of 14.4% from 2026 to 2033. River cruises offer smaller vessels, curated itineraries, and frequent access to city centers and historic towns, which appeal to consumers looking for convenience, authenticity, and slower-paced travel.

• North America cruise industry accounted for a global revenue share of 50.1% in 2025. Cruises appeal to a broad demographic by combining accommodation, dining, entertainment, and multiple destinations within a single package, reducing planning complexity for travelers.

• Asia Pacific cruise industry is expected to grow at a CAGR of 13.4% from 2026 to 2033. Consumers in the region are increasingly attracted to cruises for their convenience, value-for-money bundled offerings, and the ability to visit multiple destinations within a single trip.

Cruise Market Segmentation

Grand View Research has segmented the global cruise market on the basis of type and region:

Cruise Type Outlook (Revenue, USD Million, 2021 - 2033)

• Ocean Cruises

• River Cruises

Cruise Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • Singapore

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players in Cruise Market

• Carnival Corporation & Plc

• Royal Caribbean Group

• MSC Cruises S.A.

• Norwegian Cruise Line Holdings Ltd.

• Disney Cruise Line

• Genting Hong Kong Limited

• Fred. Olsen Cruise Lines

• Cruiseaway

• Island Queen Cruises

• Luxury Cruise Connections