At 3.85% CAGR, Global Doughnuts Market Size, Trends and Share to Surpass USD Billion by 2032
Page Contents
Market Overview
Published Via 11Press: The global doughnuts market has been expanding steadily over the last few years and is projected to continue its upward trajectory in the coming years. Doughnuts are an acclaimed snack or dessert choice around the world, from their traditional markets in North America and Europe to those across Asia-Pacific, the Middle East, and Africa.
The doughnuts market is being driven by several factors, such as rising consumer demand for convenience foods, rising disposable incomes, and changing lifestyles. Furthermore, the introduction of new and innovative product offerings such as vegan and gluten-free doughnuts has allowed this market to appeal to a broader range of buyers.
Key Statistics
- The Global Doughnuts Market size reached USD 2.36 Billion in 2022. Looking forward, Market.us expects the market to reach USD 3.40 Billion by 2032, exhibiting a growth rate (CAGR) of 3.85% during 2022-2032.
- North America currently dominates the doughnuts market, accounting for the largest share in 2020. This region is expected to maintain its dominance throughout the forecast period.
- Asia-Pacific is projected to be the fastest-growing region in the doughnuts market throughout the forecast period. This growth can be attributed to rising demands for convenience foods, rapid urbanization, and rising disposable incomes.
- In 2020, retail held the majority of the doughnuts market share; this trend is forecast to persist during the forecast period due to an increasing number of doughnut retail chains and the expansion of existing ones across different regions.
- The food service segment is expected to experience significant growth during the forecast period, due to an influx of doughnut specialty shops and cafes offering unique flavors and combinations.
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Top Key Trends
- Health and wellness
- Premiumization
- Flavor innovation
- Social media influence
- Convenience and on-the-go consumption
- Sustainability
Top Impacting Factors
- Increasing demand for convenience foods
- Rising disposable incomes
- Changing lifestyles and consumer preferences
- Introduction of new and innovative product offerings
- Competitive market landscape
- Impact of the COVID-19 Pandemic on the Market
- The growing popularity of online ordering and delivery services
- Availability of various types of doughnuts, including vegan and gluten-free options
- Expansion of retail and food service chains
- Government regulations related to food safety and labeling requirements.
Key Benefits for Stakeholders
- Revenue generation opportunities for manufacturers, retailers, and food service providers
- Expansion of product portfolios and market reach for manufacturers
- Growing consumer demand for convenience and on-the-go snacking options, creating new business opportunities
- Increasing popularity of online ordering and delivery services, allowing for greater reach and sales volume
- Opportunity to innovate and develop new product offerings to cater to changing consumer preferences
- Growing awareness and adoption of sustainable and eco-friendly practices among consumers and manufacturers, create a positive impact on
- the environment and society
- Strong brand recognition and customer loyalty for established players in the market
- Growing demand for doughnuts in emerging markets, providing opportunities for market expansion and growth
- Government initiatives and support for the food and beverage industry, create a favorable business environment
- Opportunities for collaborations and partnerships between manufacturers, retailers, and food service providers to expand market share and reach.
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Drivers
- Increasing urbanization and changing lifestyles, leading to a growing demand for convenience foods
- Rising disposable incomes lead to increased spending on indulgent and premium food products
- Growing popularity of snacking, leading to increased demand for portable and convenient snack options like doughnuts
- Introduction of new and innovative product offerings, attracting new customers and increasing market penetration
- Expansion of retail and food service chains, increasing accessibility and availability of doughnuts to consumers
- Growing popularity of online ordering and delivery services, making it easier for consumers to purchase doughnuts
- Increasing awareness and adoption of vegan and gluten-free diets, leading to the development of new product offerings to cater to these preferences
- The popularity of social media and influencer marketing led to increased brand recognition and consumer engagement
- Growing demand for sustainable and eco-friendly packaging materials, leading to the adoption of environmentally friendly practices by manufacturers
- Government initiatives and support for the food and beverage industry, create a favorable business environment.
Restraints
- Increasing health concerns and awareness, leading to a growing demand for healthier snack options and a decline in demand for indulgent foods like doughnuts
- Fluctuating prices of raw materials, affect the profit margins of manufacturers
- The short shelf life of doughnuts, makes it difficult to store and transport them over long distances
- Increasing competition from other snack options like protein bars, granola bars, and fruit snacks
- Lack of standardization in the doughnuts market, leading to inconsistency in product quality and consumer experience
- Strict government regulations related to food safety and labeling requirements, create additional costs for manufacturers and limit market entry for new players
- The negative impact of the COVID-19 pandemic on the food service industry and consumer spending, leading to a decline in sales of doughnuts
- Limited availability of raw materials in some regions, affecting the production and availability of doughnuts
- Dependence on seasonal demand, with sales typically higher during certain holidays or events
- Concerns about the environmental impact of the packaging materials used in the doughnuts market.
Opportunities
- Expansion into emerging markets with increasing demand for convenience foods and snacking options
- Development of new and innovative product offerings to address changing consumer preferences and boost market penetration
- Introduction of premium and indulgent product lines to meet the demand for high-quality and luxury food items
- Collaboration with other players in the food and beverage industry to develop unique and innovative doughnut flavors and offerings
- Investment in research and development to create healthier and more nutritious doughnut options that appeal to health-conscious customers
- Growing demand for sustainable and eco-friendly packaging materials provides manufacturers with an opportunity to adopt sustainable practices.
- Expansion of online ordering and delivery services to enhance consumer access and reach
- Creation of new and innovative retail formats such as food trucks or pop-up stores to accommodate shifting consumer preferences and behaviors
- The growing popularity of coffee shops and cafes offers manufacturers numerous opportunities for collaboration and product offerings.
Challenges
- Increasing competition from other snack options and indulgent food categories, led to a decline in demand for doughnuts
- Fluctuating prices of raw materials, affect the profit margins of manufacturers
- Strict government regulations related to food safety and labeling requirements, create additional costs for manufacturers and limiting market entry for new players
- The short shelf life of doughnuts, makes it difficult to store and transport them over long distances
- Dependence on seasonal demand, with sales typically higher during certain holidays or events
- The negative impact of the COVID-19 pandemic on the food service industry and consumer spending, leading to a decline in sales for doughnuts
- Concerns about the environmental impact of the packaging materials used in the doughnuts market
- Lack of standardization in the doughnuts market, leading to inconsistency in product quality and consumer experience
- Limited availability of raw materials in some regions, affecting the production and availability of doughnuts
- Increasing health concerns and awareness lead to a decline in demand for indulgent foods like doughnuts.
Recent Developments
- Plant-based doughnuts: Some manufacturers have started offering plant-based doughnuts to cater to the growing demand for vegan and vegetarian food products.
- Creative flavors: There has been an increase in the number of doughnut flavors and varieties, including unique and creative flavors such as matcha, lavender, and red velvet.
- Healthier options: To cater to health-conscious consumers, some manufacturers have introduced healthier options such as gluten-free, sugar-free, and low-calorie doughnuts.
- Delivery and online ordering: With the rise of online ordering and delivery services, many doughnut shops and chains have started offering these services to reach a wider customer base.
- Expansion into new markets: Several doughnut chains have expanded into new markets, including international markets, to take advantage of the growing demand for doughnuts.
- Partnership and collaborations: To drive growth and innovation, some manufacturers have partnered with other food and beverage companies to create new and unique doughnut flavors and offerings.
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Key Market Segments
Type
- Yeast
- Cake Style
Application
- Food Service
- Retail
Key Market Players
- Dunkin Brands
- Krispy Kreme Doughnuts
- Mister Donut
- J.CO Donuts
- Mad Over Donuts
- Doughnut Time
- Doughnut Time
- Starbucks
- Donut King
- Go Nuts Donuts
Report Scope
| Report Attribute | Details |
| Forecast Years: | 2022-2032 |
| Historical Years: | 2017-2022 |
| Revenue 2022: | USD 2.36 Bn |
| Revenue 2032: | USD 3.40 Bn |
| Revenue CAGR (2022 – 2032): | 3.85% |
| Fastest Growing Region | Asia Pacific |
| Largest Region | North America |
| Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast 2022-2032; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
| Regional Coverage & Country Coverage | 5 Regions & Top 22 Countries
|
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
FAQ
1. What are doughnuts?
Doughnuts are a type of fried dough confectionery typically shaped like a ring or a ball. They can be coated in various toppings such as sugar, glaze, or frosting and filled with different types of cream or jam.
2. What are the key drivers of the doughnuts market?
The key drivers of the doughnuts market include increasing demand for convenient snacking options, changing consumer preferences, the rise of coffee shops and cafes, and the introduction of new and innovative doughnut flavors.
3. What are the challenges faced by the doughnuts market?
The challenges faced by the doughnuts market include increasing competition from other snack options, strict government regulations, fluctuating prices of raw materials, and the negative impact of the COVID-19 pandemic on the food service industry and consumer spending.
4. What are some recent trends in the doughnuts market?
Recent trends in the doughnuts market include the introduction of plant-based and healthier options, the emphasis on sustainable packaging, the use of technology to enhance the customer experience, and the expansion into new markets.
5. Which regions are expected to see the most growth in the doughnuts market?
The Asia-Pacific region is expected to see the most growth in the doughnuts market, driven by increasing urbanization, rising disposable income, and changing consumer preferences. Other regions expected to see growth include Europe and North America.
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