Alaskan Cruises Market Set to Sail with US$ 2.51 Billion Revenue and 3% CAGR by 2032 | FMI

The  Alaskan cruise market is poised to reach a valuation of US$ 1.87 Billion in 2022. Sales are projected to increase at a 3.0% CAGR, with the market size reaching US$ 2.51 Billion by 2032

Various attractive tour packages are offered by a number of cruising lines. Travellers who were locked at their homes were eagerly waiting for an opportunity. Cruising lines providing new offers and packages has gained the interest of these travellers. The cruising lines are also set to make the most out of the opportunity by launching new luxury cruises and exciting activities to add on to the consumer’s cruising experience. Consumers are increasingly interested in unique experiences like Fishing, Wildlife, Northern Lights, Denali, Hiking, Camping, Glaciers, and many more of such activities.

The U.S Government is also taking special effort to get the tourism and cruising in the Alaskan region back on track. U.S. Government introduced bicameral legislation to provide a one year extension of the Alaska Tourism Restoration Act (ATRA). This act was signed into the law in May 2021. This new act ensures that if Canada restricts its borders for foreign passengers, the Alaska delegation is ready and able to again temporarily authorize foreign-flagged passenger vessels to bypass Canada.

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Besides this, in order to expand the range of business and also to contribute to the prevention of environmental changes, the top players in the Alaskan cruising market are developing new ships that will be ecofriendly. These new ships will not emit greenhouse gases and thus help in saving preventing the pause in obstacles in cruising due to recurring natural disasters. This will also gain the attention of travelers that care about environment and increase the number of people opting for cruise travel.

Key Takeaways:

• Based on cruise destination, Juneau is predicted to account for a dominant share of Travellers in the market through 2032.
• By booking channel, the online booking segment is anticipated to hold a noteworthy share of nearly 58%.
• In terms of age group, demand in the senior citizens will continue gaining traction through 2032.
• Based on packages, Alaskan cruise travelers will continue to opt packaged deals over the normal travel deals.
• Alaska will have travelers throughout the year but cruising season will have rush in the span from May to September.

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Impact of COVID-19 on the Alaskan Cruise Market:

Due to lockdown limitations were implemented to manage the virus, the COVID-19 epidemic had a huge impact on the tourism sector and hence the Cruise market too. International tourist visits declined by huge margin from, compared to the period in past years.

The ships were forced to be anchored as the ports as they were carrying fewer passengers than the usual. As the economy of population in port towns mainly rely on the cruise travel, they were the ones who got badly hit by the pandemic.

Currently, the Cruise travel is getting back to normal and is expected to grow at a good rate as the limitations after the pandemic have eased up.

Who is winning?

Leading players in the Cruising market are focusing on smart promotional strategies, advertisements, and new packaged deals to improve sales in the market.

Major players present in the Alaskan Cruise Market

• Holland America Line
• Carnival Alaskan Cruises
• Celebrity Alaskan Cruises
• Norwegian Cruise Line
• Carnival Cruise Line
• G Expedition
• Discerning traveler
• Trafalgar
• Quark Expedition
• Aurora Expedition
• Cruiser Adio