IndustryARC updated the market research study on “Cheesecakes Market”- Forecast (2024 - 2030)
Cheesecakes Market size is estimated at $18 billion in 2020, growing at a CAGR of 3.7% during the forecast period 2021-2026. Over the next several years, the high popularity of enjoying all types of special occasions and success through celebration by cheesecake dessert is projected to be a major driving force. Furthermore, increased demand for cheesecakes as desserts after meals during dine-out and weekend events among millennials and Generation Z customers around the world is estimated to boost industry growth in the near future.?New York Original Cheesecake, New York Strawberry Cheesecake are amongst the most popular type of cheesecakes available in the market. Apart from the traditional The Original New York Cheesecake which uses cream cheese as its base, cheesecakes made with cottage cheese and ricotta cheese are also widely gaining popularity in the US markets. People also prefer to eat denature cheesecakes which help them in better amino-acid digestion by destroying the protein characteristic in their dessert. The trend of celebrating various types of special occasions, accomplishments, or festivals, such as birthdays, weddings, marriage anniversaries, Valentine's Day, Christmas and New Year’s Eve, companion's birthdays, work anniversaries, Mother’s Day, Father’s Day and children's day, has grown significantly in the last several years around the world. Consumers are spending more money on occasion-specific cakes, and cheesecakes has gained significant popularity on being celebrated at occasions which is driving the overall Cheesecake Market.
Report Coverage
The report:?“Cheesecakes Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Cheesecakes Market.
By Flavours: New York Original Cheesecake, New York Strawberry Cheesecake, Pumpkin Cheesecake, Gourmet Sampler, Fruit Sampler, Chocolate Sampler, Triple Chocolate, Turtle and Others
By Distribution Chanel:?Traditional Offline and Online
By Geography:?North America (U.S., Canada, Mexico), Europe (Germany, U.K, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)
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Key Takeaways
Cheesecakes Market Drivers
Increase in Globalization of Cheesecakes
Cheesecakes was considered as an American dessert and the delicacy was limited only to people of North America and Europe. With increase in globalization and cheesecakes factories being set up across the world, people across the world are now acquiring taste and preference for this dessert. It is gaining popularity in Asian countries especially in China and India owing to its rich taste and texture. This is the driving the growth of Cheesecake Market in new countries across the world.
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Increase in Celebrity and MasterChef endorsement
There has been an increased celebrity endorsement for this dessert. Cheesecake has been popularised through many American-Based sitcoms and advertisements. The dessert is also famous in various cooking challenge shows across North America and Asia. Owing to increased celebrity endorsements through sitcoms, advertisements and MasterChef challenge shows, Cheesecake market is gaining exponential popularity and is predicted to grow across the globe.
Cheesecakes Market Challenges
Availability of Substitutes
Closest substitute of a cheesecake is custard which is available at low price across the world. The Japanese cheesecake is different from American Cheesecake but is also gaining significant popularity owing to its taste and texture. People find it difficult to differentiate between custard and cheesecake in Asian countries, thus it hampers the expansion and growth of Cheesecake Market.
Lack of culinary expertise
There are many local dessert confectioners that sell cheesecakes over the counter. Many of them lack in the true art of making a cheesecake. This results in cheesecakes with lack of taste and texture, thus creating a negative feedback in minds of customers purchasing cheesecakes. This is leading to negative customer perception about cheesecake which is in turn negatively affecting the Cheesecake Market.
Cheesecakes Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Cheesecakes Market. The Cheesecakes top 10 companies are Bakeway, Tyson Foods, Shopnideas, The Cheesecake Factory, IndiaCakes, Cake Lounge, FranGlobal, Ferns N Petals, Grand Lux and RockSugar
Cheesecakes Market Developments
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5 个月I agree with you that Cheesecake isn't easy to make. The ingredients alone can cost $30 if you are buying the best. Then there is the time. Baked cheese cake takes hours to complete. It's a labor of love to make one for your coworkers but it's worth it.
Founder & CEO, Group 8 Security Solutions Inc. DBA Machine Learning Intelligence
6 个月Your post is valued, thanks!
Associate Director | Market Research | Healthcare IT Consultant | Healthcare IT Transformation | Head of Information Technolgy | IoT | AI | BI
6 个月Exciting repertoire of desserts! Can't wait to explore more. ??