Cruising is one of the most popular and enjoyable ways to travel the world. You can visit multiple destinations, enjoy the onboard amenities and entertainment, and meet new people. But how do you choose the best cruise company for your next vacation? There are many factors to consider, such as the destinations, itineraries, ships, cabins, prices, and reviews. However, one of the most important factors is the market share of the cruise company.
The market share of a cruise company is the percentage of the total revenue or passengers that it has in the cruise industry. It indicates how successful and competitive the cruise company is in the market. It also reflects how satisfied and loyal the customers are with the cruise company. A higher market share means a higher reputation and popularity among travelers.
But what are the market shares of the leading cruise companies in the world? According to Statista1, a leading provider of market and consumer data, the worldwide cruise company market share in 2021 was as follows:
- Carnival Cruise: 45%
- Royal Caribbean Cruises LTD: 25%
- Norwegian Cruise Line: 15%
- MSC Cruises: 10%
- Others: 5%
As you can see, Carnival Cruise had by far the highest market share among cruise companies, followed by Royal Caribbean Cruises LTD and Norwegian Cruise Line. These three cruise companies account for 85% of the global cruise market. They each own a portfolio of brands that cater to different segments of the market, such as luxury, premium, contemporary, and niche.
But what are the advantages and disadvantages of choosing a cruise company with a high or low market share? Here are some of the pros and cons of each option:
Pros of choosing a cruise company with a high market share
- You can benefit from the economies of scale and scope that a large cruise company can offer. You can enjoy lower prices, more discounts and deals, more choices and options, and more services and facilities.
- You can rely on the experience and expertise that a large cruise company has in the industry. You can expect high-quality standards, safety measures, customer service, and innovation.
- You can join a large and diverse community of travelers who share your interests and preferences. You can meet new friends, join clubs and groups, and participate in social events.
Cons of choosing a cruise company with a high market share
- You may face more competition and crowding when booking or traveling with a large cruise company. You may have to deal with higher demand, limited availability, longer waiting times, and less personal attention.
- You may lose some of the uniqueness and authenticity that a smaller cruise company can offer. You may have to follow more rules and regulations, conform to more standards and expectations, and compromise on some aspects of your vacation.
- You may miss some of the opportunities and advantages that a smaller cruise company can offer. You may have to settle for less variety, flexibility, customization, and innovation.
Pros of choosing a cruise company with a low market share
- You can enjoy more variety, flexibility, customization, and innovation that a smaller cruise company can offer. You can choose from more niche and specialized cruises, such as adventure, cultural, or wellness cruises. You can also tailor your vacation to your specific needs and preferences.
- You can experience more uniqueness and authenticity that a smaller cruise company can offer. You can visit more off-the-beaten-path destinations, enjoy more local cuisine and culture, and interact more with the locals.
- You can benefit from more personal attention and service that a smaller cruise company can offer. You can have more direct contact with the staff, receive more individual care and assistance, and feel more valued and appreciated.
Cons of choosing a cruise company with a low market share
- You may have to pay more for your vacation when booking or traveling with a smaller cruise company. You may have to deal with higher prices, fewer discounts and deals, more hidden fees or extra charges, and less value for money.
- You may have to compromise on some aspects of your vacation when traveling with a smaller cruise company. You may have to settle for less amenities, facilities, entertainment, and activities. You may also have to face more risks, challenges, and uncertainties.
- You may have to deal with more isolation and loneliness when traveling with a smaller cruise company. You may have fewer opportunities to meet new people, join clubs or groups, or participate in social events.
Conclusion
Choosing a cruise company for your next vacation is not an easy decision. There are many factors to consider, such as the destinations, itineraries, ships, cabins, prices, and reviews. However, one of the most important factors is the market share of the cruise company.
The market share of a cruise company indicates how successful and competitive it is in the market. It also reflects how satisfied and loyal the customers are with the cruise company. A higher market share means a higher reputation and popularity among travelers.
However, choosing a cruise company with a high or low market share has its pros and cons. You have to weigh the advantages and disadvantages of each option and decide what suits you best.
If you are interested in learning more about the market shares of cruise companies and how to choose the best one for your next vacation, check out these resources:
- Market Share | Cruise Market Watch
- Global: market share of cruise companies 2021 | Statista
- Europe: market share of cruise companies 2021 | Statista
- Market Share of Main Cruise Lines, 2020 – Port Economics, Management
