Global Doughnut Market By Type (Yeast Doughnut and Cake Doughnut), By Product Type (Chocolate Doughnuts, Fruit Flavored Doughnuts, Glazed Doughnuts, Others) By Distribution Channel (Chain Outlet, Supermarkets/Hypermarkets, Bakeries, Online Retail, Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Doughnut Market was valued at USD 12.6 billion and is expected to reach USD 17.8 Billion in 2032. Between 2023 and 2032, this market is estimated to register a 3.5% CAGR.

Introduction

A doughnut is a deep-fried or baked food crafted from all-purpose flour dough. It can be made at home or purchased at a bakery, supermarket, food stall, or a franchised supplier. The concept of fried dough is ancient, with various cultures having their versions.

Doughnuts are available in various shapes, such as rings or balls, and are usually coated with sugar, chocolate, or icing. Moreover, this food can be filled with various sweet fillings such as jam, cream, or custard. As it is one of the most popular foods globally and a staple in American cuisine, the market is expected to experience significant growth.

Key Factors

• In 2022, the Global Doughnut Market was Valued at USD 6 billion.
• The market is estimated to reach USD 8 billion with a CAGR of 3.5% between 2023 and 2032.
• Among the type segment, the yeast doughnuts dominated in 2022, with the largest market share of 62% of the global doughnut market.
• By product type, the glazed doughnut segment holds the largest market share of 45% in 2022.
• Among distribution channels, the chain outlet segment holds a majority of the share of the global doughnut market.
• The North American region holds the largest share of the global doughnut market, with 52.24%.
• Large Expansions of outlets and retail stores are the driving factors of the global doughnut market.
• The rising popularity of low-calorie snacks such as doughnuts is a primary growth factor in the doughnut industry.
• The US donut industry is a significant economic force, estimated to be worth $3.6 billion. This thriving industry continues to bring joy to countless donut enthusiasts nationwide.
• Doughnuts account for 35.6% of breakfast bakery product sales in grocery stores in the United States.

Actual Numbers Might Vary in the Final Report.

Market Scope

Type Analysis

The Global Doughnut Market Is Dominated By Yeast Doughnuts Due To Their Affordability And Widespread Availability In Local Stores.

Based on the type, the global doughnut market is segmented into yeast and cake doughnuts. Among both, the yeast doughnut is the most consumed globally, owning a share of 62% of the global doughnut market in 2022. The growth of yeast doughnuts is attributed to their affordability and easy availability in nearby convenience stores.’

Traditional doughnuts are made with sweet dough and fermented with yeast to enlarge the dough. After fermentation, the dough is rolled to the desired length and reduced. Yeast doughnuts are often preferred for their light, airy texture, and distinct flavor from the fermentation process. The most popular varieties of yeast doughnuts include those made with Maple Bacon, Blueberry, and Pumpkin Flour.

The unique taste and texture of yeast doughnuts often make them a favorite among consumers. Moreover, vegan yeast doughnuts are becoming popular amongst vegan consumers in developed countries such as the United States and Canada, which is anticipated to boost the market growth.

Product Type Analysis

Glazed Doughnuts Held the Largest Share Of The Global Doughnut Market Because of its Classic Taste and Longer Shelf Life.

The global doughnut market is segmented into chocolate, fruit-flavored, and glazed doughnuts based on product type. Among these product types, glazed doughnuts are the most lucrative in the global doughnut market, owning 45% of the total market share because of their classic taste, longer shelf life, and ease of availability. Glazed doughnuts have a relatively stable shelf life compared to cream-filled or fruit-filled.

Moreover, the glaze acts as a form of sealing, reducing the speed at which the doughnut stales. Glazed doughnuts have been around for decades and are a timeless classic snack among consumers. These doughnuts provide an extensive range of customization options, including the addition of sprinkles, a chocolate drizzle, and a filling of cream or jelly.

In addition, these doughnuts can be found in nearby grocery stores, bakeries, or convenience stores. Therefore, glazed doughnuts hold a significant share of the global doughnut market for various reasons, ranging from simplicity and taste to versatility and cost-effectiveness.

Distribution Channel Analysis

The Chain Outlet is the Most Dominant Due To the Availability of Variety of Products

Based on the distribution channel, the global doughnut market is segmented into chain outlets, supermarkets/hypermarkets, bakeries, online retail, and other distribution channel. The chain outlets are the most dominant among these because they allow doughnut chains to broaden their brand awareness and expand their customer base.

The expansion of chain outlets servers doughnuts in multiple locations rather than just a single store. Moreover, Chain outlets can produce doughnuts in large quantities, benefitting from economies of scale. In addition, the financial resources of large chains allow for extensive marketing and advertising campaigns, which independent outlets may not be able to afford.

Chain doughnut stores use several marketing tactics to get their doughnuts out there, such as promotions and discounts, having in-store bakers, having a marketing plan, using social media, and coming up with new products that boost its sale and makes it a strong distribution channel.

Key Market Segments

Based on Type

• Yeast Doughnut
• Cake Doughnut

Based on Product Type

• Chocolate Doughnut
• Fruit Flavored Doughnut
• Glazed Doughnut
• Other Product Types

Based on the Distribution Channel

• Chain Outlet
• Supermarkets/Hypermarkets
• Bakeries
• Online Retail
• Other Distribution Channels

Drivers

The Growth Of The Doughnut Market Is Primarily Attributed To The Expansion Of Retail Stores And Chain Outlets.

Chain outlets and large retail stores have the advantage of producing in bulk, significantly lowering each doughnut’s unit cost. Lower costs often translate to competitive pricing, making doughnuts more accessible and appealing to a broader range of consumers. This is especially true when chain outlets offer promotional deals and discounts, which smaller retailers cannot provide.

Moreover, rapid urbanization has led to a growth in the number of food service providers such as cafes, restaurants, and bakeries. The increasing presence of shops and shopping facilities has also caused several market players to spend money on doughnut distribution via these channels. Several leading doughnut shops are franchising their locations in developing countries, including India and China, to expand the market over the forecast period.

The Rising Popularity Of Low-Calorie Doughnuts.

Low-calorie doughnuts are becoming increasingly popular due to the growing awareness of health concerns. Several consumers are seeking snack alternatives free of calories, sugars, and carbohydrates while providing a better taste experience.

Low-carb doughnuts have made it easier for individuals to consume their favorite food. Various consumers prefer protein doughnuts because they are high in protein, low in carbs, low in sugar, and under 150 calories per serving.

They come in different flavors, such as chocolate, cake batter, and calorie chocolate doughnuts, because they use fat-free yogurt to add moisture to the dough and keep the calories to a minimum. Such factors are expected to bolster the market growth in the coming years.

Restraints

The Fluctuating Cost Of Raw Materials Is A Significant Obstacle To The Development Of The Doughnut Market.

The major restraining factor for the market is the fluctuation in raw materials such as sugar, eggs, flour, cocoa, milk, etc. The price of raw materials used to make doughnuts can vary depending on their availability. In recent years, the demand for raw materials has extended drastically, and the supply of raw materials has reduced substantially.

Therefore, if raw material prices increase, it will also affect the cost of the doughnut products and lower the income margins of carriers. Suppliers of raw materials can also charge exceptional charges for their products. Market players are struggling with new doughnut flavors with new or one-of-a-kind ingredients that make their doughnuts taste better and attract more customers.

Opportunity

The Rapid Urbanization Of Developing Countries Provides Food Outlets An Opportunity To Participate In The Global Doughnut Market.

The increase in places that sell meals, like doughnut cafes, shops, and fast-food restaurants, has made it much easier and cheaper for people to buy doughnuts. Growing fascination with cafes among young adults in cities has led to an increase in the availability of food options. Several individuals are buying and eating more snacks and tasty meals; hence, the business of selling doughnuts is proliferating.

Consumer preferences are changing, and they are focusing on more active lifestyles, making them more likely to eat snacks and quickly grab meals such as doughnuts. Food places are using food systems to make healthy foods such as doughnuts easier to get, cheaper, and readily available.

This is done by working with local farmers and making delivery chains more sustainable. Because cities in developing countries are proliferating and consumer’s lifestyles are changing to become more urbanized, there is an increasing need for meal service providers in the global doughnut market.

Trends

One of the Most Prominent Trends In The Doughnut Industry Is The Increasing Need For Healthier Doughnuts.

A prevailing trend inside the global doughnut market is the exploration of advanced flavor infusions. Doughnuts are the most widely consumed pastry snack in the United States, locally and internationally, accounting for more than 20% of all pastry income. However, with evolving consumer behavior, there is an emerging demand for healthier alternatives, including whole grains, fiber meals, low-fat natural ingredients, and fortified foods.

Several consumers worldwide opt for clean and self-made meals instead of unhealthy ingredients that might be processed, pre-packaged, and excessive calories. Emerging companies are responding to this demand by introducing lower-sugar doughnuts. Various bakeries incorporate organic, nourishing, and fiber-rich elements, including nuts, uncooked cacao, fruit, and coconut oil, into their products.

For example, Dunkin’ Doughnuts (a subsidiary of Dunkin’ Brands Group Inc.) presents gluten-free Cinnamon-Sugar-free doughnuts, which may contribute to the overall enlargement of the targeted market over the forecast period.

Geopolitics Analysis

Rise in Disposable Income – One of the primary reasons for the growth of the international doughnut market in recent years has been the increase in disposable income.

Increasing Donut shops – The restaurant sector is still in a state of recession, with a 5,000 decrease in the number of establishments in the United States from a year prior. However, there is an increase in the number of doughnut shops. According to Time Magazine, the doughnut industry, which is primarily composed of the three major doughnut chains – Dunkin, Krispy Kreme, and Tim Hortons – has grown to more than 10,000 locations in the United States, a 2.2% increase from the previous year.

Significant Slowdown in the Doughnut Market Due to Recession – During the recession, the doughnut stores industry slowed significantly due to the economic downturn and changing consumer preferences. The shift to healthier eating habits has hurt Doughnut Stores in the world.

In response to declining sales, doughnut chains such as Dunkin’ Doughnuts, Krispy Kreme, and Winchell’s have expanded their menu offerings to include high-margin non-traditional menu items such as iced coffee drinks, fresh breakfast items, and healthy wraps. Several doughnut chains also expand internationally as part of their long-term growth plans.

Regional Analysis

The North American region accounted for the largest share of the doughnut market, with 52.3% globally. Canada’s speedy urbanization allows potential clients to buy doughnuts, fast meals, and other food objects. The United States’ surprisingly sedentary way of life has been a primary component in the increase of the doughnut market.

The ease of getting the right of entry to doughnuts, their low price, and the increasing choice of ready-to-consume meals are contributing to the growth of doughnut vendors’ earnings. After North America, Asia-Pacific’s doughnut market will grow at a higher rate because it is driven by fast urbanization and the increasing demand for fast meal outlets.

The doughnut market in Asia-Pacific is projected to enjoy a sustained increase in growth over the forecast horizon, primarily pushed through the population’s increasing earnings and the presence of fundamental global carriers.

These companies are ordinarily focused on expanding their market shares within the place through the outlet of recent stores and the creation of new flavors. Additionally, the growth of the doughnut market is attributed to the presence of nearby chains in the place, as opposed to solely global manufacturers.

Key Regions and Countries

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

Key players in the market include Dough Doughnuts, Doughnut Time Ltd., Glory Hole Doughnuts, J.CO Doughnuts & Coffee, Mad Over Doughnuts, Maple Doughnuts Inc., Yum Yum Donut Shops Inc., etc. Key players in the industry have implemented various strategies to maintain their market presence.

Doughnut manufacturers worldwide are working to create new doughnut flavors and ingredients to meet the needs of a wider audience. Doughnut market players worldwide are implementing several key tactics to gain more market share in the doughnut industry and reach a broader global audience.

Market Key Players

• Daylight Donut Flour Co. LLC
• Doughnut Time Ltd.
• Focus Brands LLC
• Glory Hole Doughnuts
• CO Doughnuts & Coffee
• LaMars Doughnuts
• Mad Over Doughnuts
• Maple Doughnuts Inc.
• Sugar Shack Doughnuts and Coffee
• Yum Yum Donut Shops Inc.
• Krispy Kreme Doughnut Corporation
• Mister Donut
• Grupo Bimbo
• Donut King
• Other Key Players

Recent Developments

In April 2023, DG Doughnuts hosted the first pop-up Ocoee Makers Market. Small business owners gathered in Ocoee to sell items, including candles, cookies, house plants, jewelry, candy, and pies.

In August 2023, A doughnut business quickly gained popularity for its vegan offerings and unique flavors at a Bangor farmers’ market. It will open a storefront in Orono later this summer.

Report Scope