Table of Contents
Introduction
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- Definition
- Abbreviations
Executive Summary
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- The market
- Growth has slowed, but passenger numbers are up 19% against 2008
- The market is set to surpass the two million passenger mark in 2018
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- Figure 1: UK sea cruise market volume, 2008-18
- Sea cruise market value will increase 19% to £2.8 billion in 2018
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- Figure 2: UK sea cruise market value, 2008-18
- Market factors
- 2013 bonus commissions follow the base rate reductions of 2011/12
- Costa Concordia salvage places the disaster back in the spotlight
- Companies look to LNG to meet rising fuel costs and emissions regulations
- New ships to add 20,000 passenger capacity in 2014
- Floods, strikes and civil strife disrupt the river cruise market
- Market share
- Royal Caribbean International and Carnival dominate the market
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- Figure 3: Global market share of top 10 operators, by passenger capacity, March 2013
- The consumer
- A third of those who have cruised are not interested in taking another
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- Figure 4: Sea and river cruises taken, July 2013
- Cruise line’s websites are the first port of call for researching a trip
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- Figure 5: Research methods, July 2013
- Perceptions of value vastly differ between cruise takers and non-cruisers
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- Figure 6: Attitudes towards sea and river cruises, July 2013
- Just 6% of potential sea cruise takers are interested in transatlantic cruises
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- Figure 7: Future sea cruise destinations, July 2013
- Half of prospective sea cruisers cite money as a barrier to entry
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- Figure 8: Reasons for not having taken a sea cruise, July 2013
- Perceptions of high cost, claustrophobia and seasickness dampen demand
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- Figure 9: Reasons for no interest in sea cruises, July 2013
- What we think
Issues in the Market
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- What is the chief barrier to growth in the sea cruise market?
- What are the long-term impacts of the Costa Concordia sinking?
- How important is branding in the cruise market?
- How have increasing air fares affected the sea cruise market?
Trend Application
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- Trend: Nouveau Poor
- Trend: Fauxthenticity
- Mintel Futures: Generation Next
Market Drivers
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- Key points
- 2013 bonus commissions follow the base rate reductions of 2011/12
- Costa Concordia salvage places the disaster back in the spotlight
- Companies look to LNG to meet rising fuel costs and emissions regulations
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- Figure 10: Europe Brent Spot Price FOB, Jan 2000-June 2013
- New ships to add 20,000 passenger capacity in 2014
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- Figure 11: New ships on order/optioned worldwide, 2012-16
- Floods, strikes and civil strife disrupt the river cruise market
- Competition in the European river cruise market heats up
Who’s Innovating
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- Key points
- Crystal Cruises’ Wine and Food voyage to showcase local ingredients
- Celebrity Cruises seeks to differentiate with craft cocktails
- SeaDream also adds some culinary innovation with a raw food menu
- Norwegian Cruise Lines launched a flash deals mobile app
- Windstar Cruises launched new ‘Grand Prix of Monaco’ package
- Project Orient plans to launch Southampton-Sydney route
- Royal Caribbean’s Quantum class to boast two industry firsts
Market Size and Forecast
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- Key points
- Growth has slowed, but passenger numbers are up 19% against 2008
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- Figure 12: UK sea cruise market volume and value, 2004-18
- The market is set to surpass the two million passenger mark in 2018
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- Figure 13: UK sea cruise market volume, 2008-18
- Sea cruise market value will increase 19% to £2.8 billion in 2018
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- Figure 14: UK sea cruise market value, 2008-18
- Forecast methodology
Segment Performance
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- Key points
- The Northern Europe region has grown to seize a 26% market share
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- Figure 15: UK sea cruise market, by destination, 2008-12
- Fly Cruises contracted 8% in 2012, but still account for 53% of the market
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- Figure 16: UK sea cruise market, port departures vs fly cruises, 2008-12
- Ultra-luxury cruises have consistently outperformed the market
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- Figure 17: Ultra-luxury sea cruise market vs total sea cruise market, annual % change, by passenger volume, 2009-12
- Egyptian unrest continues to depress the non-European river market
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- Figure 18: UK river cruise market, by destination, by passenger volume, 2009-12
Market Share
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- Key points
- Royal Caribbean International and Carnival dominate the market
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- Figure 19: Global market share of top 10 operators, by passenger capacity, March 2013
- Carnival Corporation holds a 48% share of the market, by capacity
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- Figure 20: Global market share of parent companies, by passenger capacity, March 2013
Companies and Products
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- Carnival Corporation
- Financial performance
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- Figure 21: Carnival Corporation key financials, 2011-12
- Carnival Cruise Lines
- Background
- Recent activity
- Princess Cruises
- Background
- Recent activity
- Costa Cruises
- Background
- Recent activity
- Holland America
- Background
- Recent activity
- Royal Caribbean Cruises Ltd
- Financial performance
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- Figure 22: Royal Caribbean Cruises Ltd key financials 2011-12
- Royal Caribbean International
- Background
- Recent activity
- Celebrity Cruises
- Background
- Recent activity
- MSC Cruises
- Background
- Financial performance
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- Figure 23: MSC Cruises key financials 2011-12
- Recent activity
- Hurtigruten
- Background
- Financial performance
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- Figure 24: Hurtigruten Group key financials 2011-12
- Recent activity
- Viking River Cruises
- Background
- Financial performance
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- Figure 25: Viking River Cruises key financials 2011-12
- Recent activity
Brand Communication and Promotion
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- Key points
- Carnival Corp’s share of advertising spend increased from 18% to 28%
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- Figure 26: Top 10 cruise advertisers, by holding company, 2012-13
- P&O increases its ad spend to seize 13% market share and pole position
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- Figure 27: Top 20 cruise advertisers, by brand, 2012-13
- Ad spend is shifting from direct mail to TV
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- Figure 28: Cruise advertising expenditure, by media type, 2012-13
Sea and River Cruises Taken
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- Key points
- A third of those who have cruised are not interested in taking another
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- Figure 29: Sea and river cruises taken, July 2013
- Over-55s are the most likely to have cruised, but interest is high for all ages
Research Methods Used
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- Key points
- Cruise line’s websites are the first port of call for researching a trip
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- Figure 30: Research methods, July 2013
- Human interaction is more valued for cruises than other holiday types
Attitudes towards Sea and River Cruises
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- Key points
- Exploration is a key driver behind interest in cruises
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- Figure 31: Attitudes towards sea and river cruises, July 2013
- There is an opportunity for brands to adopt a greener position
- Perceptions of value vastly differ between cruise takers and non-cruisers
- There is a demand for mini, cruise-and-stay river cruise products
- Negative media coverage has failed to impact consumer sentiment
- Cruise lines need to offer greater price transparency
Future Sea Cruise Destinations
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- Key points
- Just 6% of potential sea cruise takers are interested in transatlantic cruises
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- Figure 32: Future sea cruise destinations, July 2013
- The Caribbean, South America and Australasia appeal most to under-35s
- There is a demand for cruise-and-stay to destinations outside Europe
Reasons for Not Having Taken a Sea Cruise
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- Key points
- Half of prospective sea cruisers cite money as a barrier to entry
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- Figure 33: Reasons for not having taken a sea cruise, July 2013
- Over a quarter of prospective cruisers just have not got round to it yet
Reasons for No Interest in Sea Cruises
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- Key points
- Perceptions of high cost, claustrophobia and seasickness dampen demand
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- Figure 34: Reasons for no interest in sea cruises, July 2013
- Concern over other passengers is not a key driver behind disinterest
Appendix – Market Share
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- Figure 35: Number of vessels and passenger capacity, by operator, March 2013
- Figure 36: Number of vessels and passenger capacity, by parent company, March 2013
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Appendix – Sea and River Cruises Taken
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- Figure 37: Sea and river cruises taken, July 2013
- Figure 38: Sea and river cruises taken, by demographics, July 2013
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- Figure 39: Sea and river cruises taken, by demographics (continued), July 2013
- Figure 40: Sea cruises taken, by demographics, July 2013
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- Figure 41: River cruises taken, by demographics, July 2013
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Appendix – Research Methods Used
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- Figure 42: Research methods, July 2013
- Figure 43: Research methods, by sea and river cruises taken, July 2013
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- Figure 44: Research methods, by demographics, July 2013
- Figure 45: Research methods, by demographics (continued), July 2013
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Appendix – Attitudes towards Sea and River Cruises
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- Figure 46: Attitudes towards sea and river cruises, July 2013
- Figure 47: Attitudes towards sea and river cruises, by sea and river cruises taken, July 2013
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- Figure 48: Attitudes towards sea and river cruises, by demographics, July 2013
- Figure 49: Attitudes towards sea and river cruises, by demographics (continued), July 2013
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Appendix – Future Sea Cruise Destinations
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- Figure 50: Future sea cruise destinations, July 2013
- Figure 51: Future sea cruise destinations, by sea and river cruises taken, July 2013
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- Figure 52: Future sea cruise destinations, by Attitudes towards sea and river cruises, July 2013
- Figure 53: Future sea cruise destinations, by demographics, July 2013
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- Figure 54: Future sea cruise destinations, by demographics (continued), July 2013
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Appendix – Reasons for Not Having Taken a Sea Cruise
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- Figure 55: Reasons for not having taken a sea cruise, July 2013
- Figure 56: Reasons for not having taken a sea cruise, by Attitudes towards sea and river cruises, July 2013
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- Figure 57: Reasons for not having taken a sea cruise, by demographics, July 2013
- Figure 58: Reasons for not having taken a sea cruise, by demographics (continued), July 2013
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Appendix – Reasons for No Interest in Sea Cruises
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- Figure 59: Reasons for no interest in sea cruises, July 2013
- Figure 60: Reasons for no interest in sea cruises, by Sea and river cruises taken, July 2013
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- Figure 61: Reasons for no interest in sea cruises, by Attitudes towards sea and river cruises, July 2013
- Figure 62: Reasons for no interest in sea cruises, by Attitudes towards sea and river cruises (continued), July 2013
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- Figure 63: Reasons for no interest in sea cruises, by demographics, July 2013
- Figure 64: Reasons for no interest in sea cruises, by demographics (continued), July 2013
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