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Cruises - China - March 2017

“The overseas cruise market is booming in China. With more players joining the competition, driving awareness and establishing unique identities is vital. There is potential for brands to exploit older consumers. To sustain growth, more destinations should be explored.”
– Terra Xu, Senior Research Analyst

This Report discusses the following key issues:

  • A booming overseas cruise market
  • Appealing to the older consumers
  • The opportunities for domestic cruises

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this report
        • Demographic classifications
          • Household income
          • Executive Summary

              • The market
                • A booming overseas cruise market
                  • New players drive market growth, while lack of variety in destinations brings potential risk
                    • Figure 1: Overseas cruse passenger volume in China, 2011-16
                  • Companies and brands
                    • Carnival Corporation and Royal Caribbean are the leading companies
                      • The competition is heating up
                        • Figure 2: Passenger volume share of cruise companies in China, 2015-16
                      • More international brands turning to Chinese market
                        • Better market communication of brands’ key messages is needed
                          • Addressing a premium experience
                            • Expedition lines bring excitement to the market
                              • Innovation on cruises
                                • The consumer
                                  • More than half of respondents claim to have cruised overseas, and potential lies within the over-55s
                                    • Figure 3: Experience of cruising in the last 2 years, January 2017
                                  • Promising future for overseas cruises, tier one cities are targets
                                    • Figure 4: Cruising intention in the next 12 months, January 2017
                                  • Shorter travel time and lowering the price barrier
                                    • Figure 5: Top 3 barriers to overseas cruising in the next 12 months, January 2017
                                  • Couples and families are key targets
                                    • Figure 6: Overseas cruising companions, January 2017
                                  • Destinations and on-board activities are both important, and cost is less relevant
                                    • Figure 7: Appealing features of overseas cruising, January 2017
                                  • Holiday booking websites are the most important information channel
                                    • Figure 8: Information channels used to find out about cruising, January 2017
                                  • Mintropolitans are more likely to take overseas cruises with families
                                    • Figure 9: Experience with and intention for cruising, by consumer classification, January 2017
                                  • What we think
                                  • Issues and Insights

                                    • A booming overseas cruise market
                                      • The facts
                                        • The implications
                                          • Appealing to the older consumers
                                            • The facts
                                              • The implications
                                                • The opportunities for domestic cruises
                                                  • The facts
                                                    • The implications
                                                    • The Market – What You Need to Know

                                                      • China’s overseas market enjoyed a rapid growth
                                                        • New players in the market drive growth, while lack of diversity is potential risk
                                                        • Market Size

                                                          • Rapid growth of passenger volume
                                                            • Figure 10: Overseas cruise passenger volume in China, 2011-16
                                                          • Consumer expenditure on cruises has risen in recent years
                                                            • Figure 11: Overseas cruise market value in China, 2011-16
                                                        • Market Factors

                                                          • New ports, new brands and new vessels drive market growth
                                                            • Cruise companies rely heavily on travel agencies to drive sales
                                                              • Figure 12: Poster of UTour booking whole ships for trips all-year-round, Shanghai, February 2016
                                                            • Homogenous destinations bring potential risk
                                                            • Key Players – What You Need to Know

                                                              • Carnival Corporation leads, followed by Royal Caribbean
                                                                • New players brought more competition
                                                                  • International brands focus on developing Chinese market
                                                                    • Premium experience is a common focus for cruise brands
                                                                      • Expedition cruise lines draw attention
                                                                        • Innovation highlights
                                                                        • Market Share

                                                                          • Carnival Corporation leads in China
                                                                            • Royal Caribbean owns the largest ships in China
                                                                              • New brands, vessels and cruise lines heat up the competition
                                                                                • A lack of domestic players
                                                                                  • Figure 13: Passenger volume share of cruise companies in China, 2015-16
                                                                              • Competitive Strategies

                                                                                • More international brands entering China
                                                                                  • Key marketing message of leading brands
                                                                                    • Highlighting a premium experience
                                                                                      • Expedition lines to inject excitement
                                                                                      • Who’s Innovating?

                                                                                        • Wearable technology for easy access to cruises
                                                                                          • Figure 14: Ocean Medallion, March 2017
                                                                                        • Showcasing vessels with VR
                                                                                          • With a taste of history and culture
                                                                                            • Figure 15: Merchandise from Imperial Palace Museum on Ovation of the Seas, June 2016
                                                                                          • Variety shows on the cruise to increase appeal
                                                                                          • The Consumer – What You Need to Know

                                                                                            • Future intention for cruising is high
                                                                                              • Overseas cruises should target consumers with high MHI, and there is potential among the over-55s
                                                                                                • Travel time and cost are major barriers to overseas cruising
                                                                                                  • Partners and families are the most likely cruising companions
                                                                                                    • On-board activities and destinations are both important
                                                                                                      • OTAs, travel agencies, company websites and social networks are most important information channels
                                                                                                      • Experience of Cruising

                                                                                                        • Over half of the respondents have cruised overseas
                                                                                                          • Cruising from overseas ports is not to be overlooked
                                                                                                            • Figure 16: Experience of cruising in the last 2 years, January 2017
                                                                                                          • Overseas cruises are more popular among those with MHI of RMB 18,000 or above
                                                                                                            • Figure 17: Experience of cruising in the last 2 years, by monthly household income, January 2017
                                                                                                          • Typical cruise takers
                                                                                                            • Figure 18: Experience of cruising in the last 2 years, by age, January 2017
                                                                                                            • Figure 19: Experience of cruising in the last 2 years, by children in the household and company type, January 2017
                                                                                                          • A much younger market compared to the UK and US
                                                                                                            • Figure 20: Experience with cruising among UK and US consumers, October 2016 (UK) and June 2015 (US)
                                                                                                        • Future Cruising Intention

                                                                                                          • Growth potential for overseas cruises
                                                                                                            • Including a cruise option in overseas travel to increase appeal
                                                                                                              • Figure 21: Cruising intention in the next 12 months, January 2017
                                                                                                            • Tier one city consumers are target for overseas cruises
                                                                                                              • Figure 22: Cruising intention in the next 12 months, by city tier, January 2017
                                                                                                            • There is potential among married consumers without kids
                                                                                                              • Figure 23: Cruising experience in the last 2 years VS cruising intention in the next 12 months, by children in the household, January 2017
                                                                                                            • Past experience drives future intention
                                                                                                              • Figure 24: Cruising intention in the next 12 months, by experience in the last 2 years, January 2017
                                                                                                          • Barriers to Overseas Cruising

                                                                                                            • Shorter trips may appeal
                                                                                                              • Lowering the price barrier
                                                                                                                • Figure 25: Barriers to overseas cruising in the next 12 months, January 2017
                                                                                                              • Converting non-intenders by building up word-of-mouth reputation
                                                                                                                • Figure 26: Non-intenders for overseas cruises, by demographics and information channels, January 2017
                                                                                                            • Cruising Companions

                                                                                                              • A romantic way of travelling
                                                                                                                • Customised trips for different companions
                                                                                                                  • An escape from daily routine appeals to parents
                                                                                                                    • Figure 27: Overseas cruising companions, January 2017
                                                                                                                  • Consumers with high MHI tend to be more open to different types of cruising trips
                                                                                                                    • Figure 28: Overseas cruising companions, by demographics, January 2017
                                                                                                                • Appealing Features

                                                                                                                  • Destinations are as important as on-board activities, and consumers are not very price-sensitive
                                                                                                                    • Figure 29: Appealing features of overseas cruising, January 2017
                                                                                                                  • 20-24-year-olds are more likely to be attracted by the destination
                                                                                                                      • Figure 30: Appealing features of overseas cruising, by age and household income, January 2017
                                                                                                                  • Information Channels

                                                                                                                    • Holiday booking websites are the most important information channel
                                                                                                                      • Social media and other entertainment shows may trigger consumers’ interest
                                                                                                                        • Figure 31: Information channels used to find out about cruising, January 2017
                                                                                                                      • OTAs appeal to different age groups, while travel agencies are popular among those aged in 30s and 40s
                                                                                                                        • Figure 32: Information channels used to find out about cruising, by demographics, January 2017
                                                                                                                    • Meet the Mintropolitans

                                                                                                                      • Domestic cruise and overseas cruises are both popular among Mintropolitans
                                                                                                                        • Mintropolitans show high intention for cruising, especially overseas
                                                                                                                          • Figure 33: Experience of and intention for cruising, by consumer classification, January 2017
                                                                                                                        • Mintropolitans are more likely to cruise with families
                                                                                                                          • Figure 34: Overseas cruising companions, by consumer classification, January 2017
                                                                                                                        • On-board activities are the main attraction to Mintropolitans
                                                                                                                          • Figure 35: Appealing features of overseas cruising, by consumer classification, January 2017
                                                                                                                        • Cruise company websites are more important to Mintropolitans
                                                                                                                          • Figure 36: Information channels used to find out about cruising, by consumer classification, January 2017
                                                                                                                      • Appendix – Market Size

                                                                                                                        • Passenger volume of China’s overseas cruise market
                                                                                                                          • Figure 37: Overseas cruse passenger volume in China, 2011-16
                                                                                                                        • Market value of China’s overseas cruise market
                                                                                                                          • Figure 38: Overseas cruse market value in China, 2011-16
                                                                                                                      • Appendix – Methodology and Abbreviations

                                                                                                                        • Methodology
                                                                                                                          • Abbreviations

                                                                                                                          Companies Covered

                                                                                                                          To learn more about the companies covered in this report please contact us.

                                                                                                                          Cruises - China - March 2017

                                                                                                                          US $3,990.00 (Excl.Tax)