Ocean Group

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The Cruise Industry
The cruise industry, which makes up only a small part of the global tourism industry, has been the fastest growing segment of the global tourism industry since 1970--achieving more than 2,000 percent growth from 1970 to 2014, and more than 100 percent growth since 2000 alone.

Brand Concentration

The four companies that dominate the cruise industry today, with nearly 84 percent of the global passenger capacity, will continue to dominate into the next decade with an estimated 83 percent of the total capacity by 2021, based on existing fleets and newbuild orders, according to the 2014-2015 State of the Industry Report from Cruise Industry News.

  • Carnival Corporation is the market leader with 10 brands and 102 ships today and has a market share of 45.8 percent. Within the Carnival group, the Carnival brand represents 40 percent of its capacity; Princess approximately 17 percent; and Costa 15 percent. The other seven brands make up the balance.
  • Royal Caribbean Cruises has six brands and 43 ships and a global market share of 23.2 percent, with the Royal Caribbean brand being 66 percent of its total capacity.
  • Norwegian Cruise Line has a global market share of 8.0 percent and MSC Cruises, 6.9 percent.
  • The balance of 16 percent for the 2014 global cruise capacity is shared by some 50 other brands operating 126 ships.

The market shares shift only slightly by 2021, with Carnival, Royal and Norwegian seeing a slight reduction from the build-up of MSC, which increases its market share to 9.3 percent, based on existing newbuild orders.

 

Notably, only six brands dominate; Carnival, Princess, Costa, Royal Caribbean, Norwegian and MSC.


The relative market shares is generally expected to remain similar to today unless new brands/operators should decide to enter the market in a significant way.


These statistics are quite remarkable, given the fact that most segments of the travel market have experienced a contraction during this period of global economic crisis, and give us confidence that demand for cruising will continue to be strong.........