The global coastal and maritime tourism products market size was valued at USD 8.2 billion in 2021 and is expected to grow at a CAGR of 5.2% from 2022 to 2030. Coastal and maritime tourism has become increasingly popular in recent years, owing to the increasing number of people looking for recreational activities on the beach, and the increasing demand for sea-related experiences. In addition, the growing popularity of beach holidays with family and friends is driving the growth of the industry. Growing awareness about the importance of coastal and maritime tourism products, such as sunscreen, sunglasses, beach towels, and beach bags, is also driving the market growth.

Furthermore, an increase in the number of coastal and maritime tourism activities is contributing to the growth of the market. For instance, in April 2021, the South Carolina Department of Parks, Recreation, and Tourism launched a new adventure package called ‘The Grand Strand Adventure’. The package included a variety of activities such as kayaking, fishing, paddleboarding, and other water sports. The package was designed to encourage people to explore the inner and outer banks of the Grand Strand in South Carolina, USA.

The growing demand for eco-friendly and sustainable products is also driving the market. Owing to the rising environmental concerns, many companies are focusing on manufacturing environment-friendly and sustainable products. For instance, in May 2021, The North Face launched a new collection of eco-friendly and sustainable products, including beach towels, beach bags, and sandals. The collection is made from recycled plastic bottles and is free of toxic chemicals.

Furthermore, the increasing preference for online shopping is also supporting the growth of the market. Online shopping platforms provide convenience and allow customers to compare prices and check reviews, thus providing customers with a better shopping experience. This is leading to an increase in online sales of coastal and maritime tourism products. Additionally, many companies are launching their own e-commerce websites to provide customers with a better shopping experience. For instance, in January 2021, the US-based company Beachside Towels launched its own e-commerce website to promote the sale of beach towels.

The cruise segment dominated the market and accounted for a share of around 35.2% in 2022. Growing leisure time and increasing disposable income among consumers have been driving the growth of the cruise market worldwide. According to an article published by the Cruise Lines International Association, in January 2020, the global cruise industry contributed USD 150 billion to the global economy in 2019. Furthermore, increasing awareness regarding coastal and maritime tourism, rising demand for adventure and exploration activities, and technological advancements in the maritime industry are some of the major factors driving the industry.

The water sports segment is anticipated to expand at the fastest CAGR of 6.4% over the forecast period. Growing popularity of water sports, increasing consumer spending on leisure activities, and rising demand for water-based activities are some of the key factors driving the growth of the water sports market. According to an article published by the World Travel and Tourism Council, in October 2019, water sports activities such as parasailing, jet skiing, and sailing are expected to grow in popularity over the forecast period. In addition, rising tourism in coastal and island areas is another factor driving the growth of the market.

The coastal and maritime tourism products market is largely driven by the offline retail segment, which accounted for a major share of over 49.9% in 2022. The growth of the segment is attributed to the increasing preference of travelers to visit coastal and maritime destinations, coupled with the increasing number of traditional retail outlets in tourist destinations. In addition, offline retail stores provide a wide range of coastal and maritime products at competitive prices.

The online segment is expected to expand at the highest CAGR of 10.7% from 2022 to 2029. The growth is attributed to the increasing number of online retail stores offering a wide range of coastal and maritime tourism products at competitive prices. In addition, online stores also provide convenience, discounts, and promotional offers to customers. For instance, in February 2021, SeaLife Online Store, a leading online store for coastal and maritime products, launched an exclusive collection of coastal and maritime products at discounted prices.

The cruise segment accounted for the largest revenue share of 43.2% in the year 2022. The increase in the number of cruise lines, coupled with the growing demand for luxury facilities, is driving the demand for cruise ships. Furthermore, the growing focus of travel companies on providing unique experiences to the customers is also leading to the growth of the cruise segment. For instance, in March 2021, Royal Caribbean Group, a cruise line operator, introduced a new feature called ‘Perfect Day Island’ to provide a unique experience to its customers.

The yachting segment is anticipated to expand at the highest CAGR of 23.3% over the forecast period. The increasing number of yachting charters and the growing popularity of yacht racing are driving the market for yachting in the forecasted period. Furthermore, the increasing number of coastal and maritime events, such as sailing competitions, is also driving the segment’s growth. Moreover, the increasing disposable income of people in developed countries is also boosting the market for yachts.

Europe held the largest share of the global coastal and maritime tourism market in 2022 on account of the presence of numerous coastal cities, such as London, Amsterdam, Barcelona, and Venice. The increasing demand for cruises is another factor driving the growth of the market in the European region. For instance, in April 2022, the Italian cruise giant MSC Cruises announced plans to double its fleet size by 2027.

The Asia Pacific region is expected to witness the fastest growth in the next few years. The growing popularity of coastal and maritime tourism, supported by the increasing number of tourists, is expected to drive market growth. India is expected to be the fastest-growing market in the region due to the increasing number of heritage sites and beaches. For instance, in January 2021, the Indian government launched the ‘Swadesh Darshan’ scheme with the aim of developing tourist destinations around the coast.

In this part of the coastal and maritime tourism products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your coastal and maritime tourism products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a coastal and maritime tourism products business come from ticket sales, accommodation sales, transportation, food & beverage, and other related services. Here you will find a list with a description of each of them and other possible sources of profit such as tour packages, the sale of merchandise, and advertising.

Projecting Expenses
In this section, all the regular expenses related to keeping the coastal and maritime tourism products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the coastal and maritime tourism market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Carnival Corporation & plc launched a new cruise route for the Mediterranean Sea.

– In August 2022, Disney Cruise Line launched a new cruise route for the Caribbean Sea.

– In October 2022, Royal Caribbean International launched a new cruise route for the Mediterranean Sea.

Some of the prominent players in the coastal and maritime tourism market include:

– Carnival Corporation & plc
– Royal Caribbean International
– Disney Cruise Line
– Norwegian Cruise Line Holdings Ltd.
– MSC Cruises
– Celebrity Cruises
– Viking Cruises
– AIDA Cruises
– Costa Cruises
– Holland America Line

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global coastal and maritime tourism products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Accommodation
– Excursions
– Cruise
– Transport
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Luxury
– Mid-Range
– Budget

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Trends in Coastal and Maritime Tourism?
[A]: A number of key trends have been identified in the global coastal and maritime tourism market, including the emergence of experiential tourism, the growth in custom travel packages, and the increasing popularity of ecotourism. Additionally, the development of digital technologies such as virtual and augmented reality, as well as online booking platforms, are expected to have a positive impact on the demand for coastal and maritime tourism.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to be a major factor in driving demand for coastal and maritime tourism. Technological advancements, such as the use of drones, virtual reality, and artificial intelligence, are expected to open up new opportunities for the market. Additionally, product personalization, such as customizing a holiday package according to the customer’s needs, is likely to be a key trend in the near future.

[Q]: Who are the Key Players in the Coastal and Maritime Tourism Market?
[A]: Key players in the global coastal and maritime tourism market include Carnival Corporation & plc, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings Ltd., Thomas Cook Group plc, and TUI Group.

[Q]: Which Region Offers the Largest Opportunity for Sales of Coastal and Maritime Tourism Products?
[A]: Europe is expected to be the largest regional market for coastal and maritime tourism, followed by North America. This is mainly due to the presence of several popular tourist destinations in the region and the growing demand for custom travel packages.

[Q]: What are the factors driving the coastal and maritime tourism market?
[A]: Key factors driving the growth of the global coastal and maritime tourism market include the increasing number of tourists, rising disposable incomes, the availability of low-cost airlines, and the growing popularity of experiential tourism. Additionally, the development of digital technologies such as online booking platforms, virtual reality, and artificial intelligence is expected to further drive market growth.