NEWARK, Del, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The global river cruises market is expected to reach an estimated value of US$ 1.71 Bn in 2032, with sales growing at a stagnant CAGR of 2% over the forecast period of 2022 to 2032. In 2022, the river cruises market will likely reach a valuation of US$ 1.45 Bn. The demand for river cruises is anticipated to undergo a steep incline over the upcoming years.
River cruisers are smaller in size so as to travel smoothly in rivers and shallow waters. These cruises ensure a leisurely exploration of different cities, towns, villages, and certain areas where larger ships cannot travel. River cruises provide a laid-back and intimate experience. This contributes to the increasing sales of river cruises. However, the overall experience of a river cruise is much less grand than the experience of an ocean cruise.
A river cruise comes with certain advantages like no hassle of packing-unpacking due to hotel changes, less chance of getting motion sickness as land is always within site, and no additional worry of scheduling travel activities as it is taken care of once the cruise is booked. With the small size of the cruise, the traveler can also enjoy a close-knit affair. Additionally, many river cruises also offer personalized services from the crew. All these advantages positively influence the river cruise market.
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The river cruise market is gradually gaining interest from a wide range of age groups as these cruises are catering to the interests of people from all walks of life with various onboard entertainment programs and more. Market players are also introducing new cutting-edge ships, empowered by technologically advanced tools. All these factors are improving market opportunities for river cruises.
However, the fact that the travelers are often compelled to stick to the schedule, unable to stay longer at a certain place, or stop at a more attractive spot is a hindrance to the market. Again, some of the cruises are for adults only and not meant for children. This, too, will likely impede the future prospects of the river cruises market.
In spite of certain obstacles, river cruises are steadily gaining popularity as they ensure a close-knit, laid-back, and adventurous holiday, attracting many travelers and tourists.
“The hassle-free exploration of different cities, towns, and villages with reduced chances of motion sickness will likely foster an atmosphere of growth for the river cruises market over the forecast period,” says an FMI analyst.
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Key Takeaways:
- Technological advancements and onboard entertainment boost market prospects.
- The need for complete compliance with a schedule may hamper market possibilities.
- Rising environmental concerns can impede market growth over the forecast period
- London, Paris, Budapest, Bangkok, New York, San Antonio, Singapore, Ho Chi Minh City, and Amsterdam are some of the popular locations for river cruises.
- The river cruises market is primarily expanding in Europe, Africa, South East Asia, and the U.S.
Competitive Landscape
Viking River Cruises, Uniworld River Cruises, American Cruise Lines, AmaWaterways, Avalon Waterways, and American Queen Voyages, among others, are some of the major players in the river cruises market that are profiled in the full version of the report.
Major market players are keen on incorporating technology that enables a better passenger experience to gain a competitive advantage.
More Insights into the River Cruises Market Report
In its latest report, FMI offers an unbiased analysis of the global river cruises market, providing historical data from 2014 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on type (onboard facilities), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 56-65 years, 66-75 years), customer orientation (male, female, others), and region.
According to the latest FMI reports, based on region, Europe, South East Asia, and Africa present some of the most lucrative opportunities to the river cruise market over the forecast period. Some of the more popular river cruise destinations are cities like London, Paris, Amsterdam, Budapest, Bangkok, Singapore, Ho Chi Minh City, New York, San Antonio, Luxor, and Cairo.
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Key Segments Profiled in the River Cruises Market Survey
By Type:
- Onboard facilities
- Passenger tickets
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 56-65 Years
- 66-75 Years
By Customer Orientation:
- Male
- Female
- Others
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
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