Premium Cruise Market to Grow by 20% Over Next Decade

Sun Princess at Fincantieri

The premium segment of the global cruise industry is set to grow by 20 percent in capacity between 2023 and 2033, according to the 2023 Cruise Industry News Annual Report.

While still aggressive, that compares to over 60 percent grown between 2013 and 2023.

The coming growth over the next decade will be led by more big ships, primarily the Sun and Star Princesses, which each add over 4,000 berths to the market. The two newbuilds for Princess helps the Carnival brand maintain its leadership as the largest brand in the premium market.

The Sun Princess debuts next spring, followed by the Star Princess in 2025; both Fincantieri-built ships are slated for Mediterranean deployments for the 2025 summer season.

There are also new ships coming for Royal Caribbean’s Celebrity Cruises brand, including the Celebrity Ascent later this year and a yet-to-be-named newbuild slated for a 2025 delivery from Chantiers. The 2025 newbuild will be methanol ready.

On a percentage basis, TUI Cruises will have the most growth, adding three more ships for its premium offering in the German market, while the older and smaller Mein Schiff Herz left the fleet earlier this year.

Other brands with a key presence in the premium market include Holland America Line, Cunard Line and P&O Cruises from Carnival Corporation, as well as Virgin Voyages, Resorts World Cruises, Oceania, Fred. Olsen, Azamara and others.

Click here to order the 2023 Cruise Industry News Annual Report.

 

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