Cheesecakes Market - Forecast(2024 - 2030)

Cheesecakes Market size is estimated at $26.64 billion in 2030, growing at a CAGR of 4% during the forecast period 2024-2030. 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. 

A notable trend in the cheesecake market is the relentless innovation in flavor varieties. Cheesecake manufacturers are introducing unique and exotic flavors, catering to diverse consumer preferences and culinary trends. Traditional options like classic and fruit-flavored cheesecakes are now joined by unconventional combinations such as matcha, salted caramel, and lavender-infused variations. This trend not only attracts new consumer segments but also enhances the overall consumer experience, making cheesecakes a versatile and exciting dessert option. As consumers increasingly seek novel and adventurous flavors, this trend reflects the industry's responsiveness to evolving taste preferences and the ongoing quest for culinary creativity within the cheesecake market. Another significant development in the cheesecake market is the growing emphasis on health-conscious offerings. With an increasing awareness of dietary choices and wellness trends, cheesecake manufacturers are introducing low-fat, sugar-free, and gluten-free options to meet the demands of health-conscious consumers. These healthier variations aim to provide guilt-free indulgence without compromising on taste and quality. Additionally, there is a surge in the use of alternative ingredients such as plant-based or dairy-free options to accommodate various dietary restrictions and preferences. This trend reflects a shift toward a more inclusive and health-focused approach within the cheesecake market, aligning with broader consumer expectations for mindful and balanced eating choices.

The report: “Cheesecakes Market – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Cheesecakes Market.

By Type: Baked Cheesecake, Non-Baked 

By Flavours: New York Original Cheesecake, Fruit Flavoured Cheesecake, Chocolate Flavoured Cheesecake, Pumpkin Cheesecake, Key Lime/Lime Cheesecake, Others

By Form: Bulk Cheesecake, Whole Cakes, Sliced Cheesecakes, Cheesecakes in Jars, Others

By Distribution Chanel:  Offline and Online

By Sales Channel: Retail, Food Service

By Product Form: Ready to Eat, Frozen, Cheesecake Mixes and Baking Kits

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)

• This report provides an analytical depiction of the global Cheesecakes Market, as well as current trends and future projections, in order to identify the most potential growth opportunities.

• The study includes data on major drivers, challenges, and trends, as well as a complete analysis of the market share for Cheesecakes Market.

• To highlight the worldwide Cheesecakes Market growth scenario, the existing market is statistically examined from 2024 to 2030.

• A detailed Value Chain Analysis and Regulatory Analysis based on past data and current market trends included in the research.

                

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The Baked Cheesecake segment emerged as the dominant force in the Cheesecakes market in 2023, securing the largest market share. Baked cheesecakes are characterized by a rich and dense texture, owing to the meticulous baking process. Typically prepared with cream cheese, eggs, and sugar, these cheesecakes undergo a slow baking method, contributing to their smooth consistency and firm structure. The gradual baking not only intensifies the flavors but also creates a delightful contrast between the golden-brown exterior and the creamy interior. Consumers are drawn to the authentic taste and traditional preparation methods, making Baked Cheesecakes a timeless favorite. As the demand for classic and authentic desserts continues to soar, the Baked Cheesecake segment retains its stronghold as the leading choice among consumers, driving the overall growth of the Cheesecakes market.

The New York Original Cheesecake held the largest market share of the Cheesecakes Market in 2023. The New York Original Cheesecake is a special type of cheesecake which can made with cream cheese, cottage cheese and ricotta cheese. The amount of cream cheese used in the cheesecake accounts for its richness. The cheese in New York cheesecake is hefty, which is why it's so dense and creamy with extra eggs included to provide a smooth consistency. The egg also helps to bind the cheesecake together, giving it a firm structure. New York style cheesecake is always baked and made with only a few simple ingredients. Owing to its traditional flavour and texture, it is the most popular delicacy in North America and European Countries which is driving The Cheesecake Market.

However the New York Strawberry Cheesecake segment is estimated to grow at a faster CAGR of 4.2% over the forecast period 2024-2030. Strawberry Cheesecake is a special type of cheesecake which can be made with cream cheese, cottage cheese and ricotta cheese. It has gained its popularity in parties, anniversaries, birthdays, and Christmas Eve. Strawberry Cheesecake has also been popularised in European and Asian countries which has resulted in an increasing market growth rate in this segment.

The Cheesecakes in Jars segment emerged as the frontrunner in the Cheesecakes market, claiming the largest market share in 2023. This innovative and convenient form of presenting cheesecakes offers consumers a portable and portion-controlled indulgence. Cheesecakes in Jars maintain the rich and creamy texture of traditional cheesecakes while providing the added benefit of easy storage and on-the-go enjoyment. The jar packaging not only preserves the freshness but also allows for creative layering of flavors, creating a visually appealing product. This form has rapidly gained popularity due to its versatility, making it suitable for individual servings and gifting purposes. As consumer lifestyles trend towards convenience without compromising on quality, Cheesecakes in Jars lead the market, reflecting a perfect blend of taste and practicality in the evolving dessert landscape.

Traditional Offline segment held the largest market share in distribution of Cheesecake Market in 2023. They are predicted to maintain their dominance in the coming years with several domestic players having their own specialised shops selling artesian cheesecakes, dessert cakes, and sponge cakes. Retail outlets are preferred by Gen-Z and millennials who prefer to have their dessert in the retail shop itself. Cheesecake retailers often offer a wide variety of desserts and have a decent sitting arrangement at their stores. The ambience and hospitality offered by Offline Stores cheesecake outlets is driving the Cheesecake Market by exponential growth. They are also preferred by millennials who store groceries for a longer duration of time.

Online Stores selling cheesecakes are predicted to grow at a CAGR of 5.5% over the period of 2024-2030. The sales are expanding significantly in many parts of the world as clients can make online orders for their favourite cakes. Furthermore, the expanding use of the internet, combined with the increasing usage of smartphones, is increasing the product's online sales. Owing to the high level of customer engagement, almost all retail businesses are entering the industry through e-commerce platforms. This is driving the growth of Cheesecake industry globally.

In 2023, the North America held 39%, the largest regional market share for cheesecakes, with US contributing the largest market share in North America. The New York Original Cheesecake became one of the most preferred delicacy in US and continued to expand in the western states of US. Every big and small baker started selling cheesecake which led to an exponential growth in the US Cheesecake Market. It also became a delicacy for celebration on special occasions and festivals. It is estimated to continue its growth in upward trajectory considering its impact on the people of US.

Asia Pacific is estimated to grow at a fastest over the forecast period 2024-2030. The growing population of developing countries such as China and India present the Cheesecake Market with significant long-term opportunity. Small and medium bakers, on the other hand, are estimated to encounter challenges in capitalising on such prospects, while large businesses are set to enjoy a competitive edge in nations like Japan, South Korea, and India.

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.

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.

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.

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.

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, Cheesecake & Co., The Cheesecake Factory, Kraft Heinz, FranGlobal, Grand Lux, Eli's Cheesecake Company, Junior's Cheesecake, Sara Lee, Gü Desserts and more.

• In Jan 2022, Dessert Holdings, North America’s leading premium dessert company, announced that it has acquired Steven Charles, a maker of gourmet desserts supplying foodservice and retail customers across North America.

• In Oct 2022, UK-based English Cheesecake Company has launched two frozen cheesecake product lines, frozen cheesecake tubs and bites. The Frozen Cheesecake Tubs are available in chocolate fudge cookie dough or classic strawberries and cream flavour.

• In Aug 2023, The Cheesecake Factory announced to expand and open its first store in Thailand by December 2023. The brand’s first Thai store is set to open in CentralWorld on the ground floor, adjacent to Shake Shack, which also opened earlier this year.

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