(MENAFN- GlobeNewsWire - Nasdaq) The global doughnuts market has experienced rapid growth owing to increase in consumer demand for indulgent treats and innovative flavor offerings. In addition, the expansion of doughnut chains into new markets and the introduction of online ordering and delivery services have further fueled market growth, catering to convenience-focused consumers seeking sweet treats on-the-go.Wilmington, Delaware, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Doughnuts Market by Type (Yeast Doughnut, and Cake Doughnut), Product Type (Chocolate Doughnut, Fruit Flavored Doughnut, Glazed Doughnut, and Others), Distribution Channel (Supermarkets-Hypermarkets, Specialty Stores, Convenience Stores, Online Retails, Bakery, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the doughnuts market was valued at $13.7 billion in 2023, and is estimated to reach $18.8 billion by 2033, growing at a CAGR of 3.3% from 2024 to 2033.
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Prime determinants of growth
The versatility and indulgent appeal of doughnuts make them a popular treat across various demographics and cultures. Innovative product offerings and creative flavor combinations by doughnut manufacturers continually attract consumer interest and drive sales. Moreover, the expansion of bakery chains and specialty doughnut shops worldwide increases accessibility and availability. Furthermore, the influence of social media platforms boosts trends and promotes consumer engagement, which contributes to the increased demand for doughnuts. Moreover, evolving consumer preferences toward convenient, on-the-go snack options further propels the market's growth trajectory. These factors collectively contribute to the rapid expansion of the global doughnut market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $13.7 Billion |
| Market Size in 2033 | $18.8 Billion |
| CAGR | 3.3% |
| No. of Pages in Report | 381 |
| Segments Covered | Type, Product Type, Distribution Channel, And Region |
| Drivers | Increase In Demand for Indulgent and Premium Food Products |
| Creative Flavor Innovations and Unique Toppings |
| Growth In Popularity of Specialty Coffee Shops and Cafes |
| Expansion of Quick-Service Restaurant Chains Offering Doughnuts |
| Rise In Consumer Preference for On-The-Go Snacking Options |
| Opportunities | Introduction Of Gluten-Free and Vegan Doughnut Options |
| Targeting Emerging Markets With Growing Disposable Incomes |
| Customization Options To Cater To Diverse Consumer Preferences |
| Restraints | Health Concerns Related To High Sugar And Calorie Content |
| Competition From Healthier Snack Alternatives |
| Price Sensitivity Among Certain Consumer Segments |
The yeast doughnuts segment to maintain its leadership status during the forecast period
By type, the yeast doughnuts segment held the highest market share in 2023. Yeast doughnuts are gaining traction due to their light, fluffy texture, and ability to absorb flavors and toppings. Unlike cake doughnuts, yeast doughnuts rise through fermentation, resulting in a softer, more airy consistency. This appeals to consumers seeking indulgent yet satisfying treats. In addition, yeast doughnuts offer versatility in flavor profiles and can accommodate a wide range of fillings and glazes, fostering creativity and innovation among pastry chefs and manufacturers. As consumers increasingly seek elevated dining experiences and premium food options, yeast doughnuts present an enticing choice for those craving a deliciously indulgent snack or dessert.
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The chocolate doughnuts segment is expected to witness rapid growth throughout the forecast period.
By product type, the chocolate doughnuts segment held the highest market share in 2023. The rich, indulgent taste of chocolate resonates with consumers seeking satisfying treats. Moreover, chocolate doughnuts offer endless possibilities for customization, from classic glazed varieties to decadent toppings such as sprinkles, nuts, or caramel drizzles. They cater to a wide range of preferences, including those with a sweet tooth and chocolate enthusiasts. In addition, the association of chocolate with mood enhancement and comfort adds to its allure, which makes chocolate doughnuts a popular choice for indulgence and relaxation, thus driving their popularity in the market.
The specialty stores segment is expected to lead throughout the forecast period.
By distribution channel, the specialty segment held the highest market share in 2023. Specialty stores have gained traction owing to several reasons such as they offer a curated selection of products tailored to specific consumer preferences, providing a unique shopping experience. Specialty stores often emphasize quality, authenticity, and expertise, which attracts consumers seeking premium or niche products. These stores foster a sense of community and engagement, creating opportunities for personalized interactions between staff and customers. Specialty stores also showcase artisanal or locally sourced goods, tapping into the growing demand for sustainable and ethically produced items. Overall, these factors contribute to the increasing popularity and success of specialty stores in the distribution landscape.
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Asia-Pacific to maintain its dominance by 2033
By region, Asia-Pacific held the highest market share in terms of revenue in 2023 as doughnuts are deeply ingrained in the culinary culture, serving as popular breakfast items, snacks, and indulgent treats. Iconic chains such as Dunkin' Donuts and Krispy Kreme have contributed to their widespread availability and popularity. The convenience of purchasing doughnuts from coffee shops, bakeries, and supermarkets further fuels consumption. In addition, North American consumers have a demand for indulgent and sweet food, which contributes to sustained demand for doughnuts. Cultural associations with doughnuts as comfort food and social treats also play a significant role in driving the market growth. Furthermore, marketing efforts by doughnut chains, including seasonal promotions and creative flavors, continually attract consumers, making doughnuts a preferred choice among consumers in the region.
Players: -
The Restaurant Brands International, Inc.
Daylight Donut Flour Co. LLC
The report provides a detailed analysis of these key players in the global doughnuts market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Industry Dev
In October 2022, Dunkin' Donuts introduced a limited-edition collection inspired by popular candy brands. Partnering with iconic names such as Reese's and Snickers, Dunkin' Donuts combined the flavors of these candies into their doughnut creations to increase their product offerings.
In March 2021, Krispy Kreme introduced an enticing selection of filled doughnuts that included flavors such as chocolate strawberry and vanilla to increase their product portfolio.
In January 2020, Krispy Kreme Doughnuts, Inc., a subsidiary of JAB Holding Company, introduced mini doughnuts with 90 fewer calories in the U.S. to provide consumers with a lighter indulgence option while expanding its product range.
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