Donuts Market Size
Global Donuts Market reached USD 7.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 13.2 billion by 2030. The market is growing at a CAGR of 8.1% during the forecast period 2024-2031. The global donut market is expected to experience positive growth in the forecasting period.
There is a growing consumer demand for indulgent and convenient treats, which is boosting the popularity of donuts worldwide. Donuts are widely enjoyed as breakfast items, snacks, and desserts, appealing to a wide range of consumer preferences. The market is benefiting from the strong consumer affinity for the unique taste, texture, and variety of donuts.
The increase in food service outlets, such as cafes, bakeries, and specialty donut shops, is contributing to the growth of the donut market. These establishments offer a wide variety of donut flavors, toppings, and fillings, attracting customers seeking a diverse and enjoyable dining experience. The continued expansion of foodservice outlets globally is expected to drive market growth.
Market Summary
| Metrics | Details |
| CAGR | 8.1% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
Increasing Consumer Indulgence and Demand for Sweet and Flavorful Bakery Products Drives Market Growth
The global donuts market is being driven by increasing consumer indulgence and demand for sweet and flavorful bakery products. Consumer indulgence has become a significant driver for the donut market. Donuts are often perceived as a treat or indulgent snack, enjoyed by consumers as a special and pleasurable experience. The desire for indulgence and the enjoyment of sweet and flavorful bakery products are contributing to the growing demand for donuts.
Donut manufacturers are also responding to this demand by introducing a wide variety of flavors and fillings, including traditional favorites and creative twists, to attract and retain customers. For instance, on May 20, 2021, Baker Boy, a renowned bakery brand, introduced a new addition to its product lineup under the Donut Hole brand. The company has launched individually wrapped donuts, catering to the growing demand for convenient and on-the-go treats. Each donut is meticulously crafted and sealed in its own wrapper, ensuring freshness and easy portability.
Growing Popularity of Convenience Foods and On-The-Go Snacking Options Drive Market Growth
Consumers are leading busy lives, seeking convenient food options that fit into their fast-paced routines. Donuts, with their handheld nature and easy consumption, are catering to this demand for on-the-go snacking. Manufacturers are also developing new products to meet the demand among consumers in the global donuts market. Manufacturers are also developing new products to meet the demand among consumers in the global donuts market
For instance, on November 22, 2022, Asda expanded Taboo Donut concessions to four stores across Northern Ireland, including Asda Bangor, Coleraine, Portadown, and Antrim. This expansion brings an array of delectable treats to customers, including donuts, Italian gelato, cookies, brownies, and freshly ground coffee.
Concerns About the Health Implications of Consuming High-Sugar and High-Fat Bakery Products Hamper the Market Growth
The high-sugar and high-fat nature of donuts seeing as less favorable in light of these health concerns, causing some consumers to seek healthier snack alternatives, which further restrains market growth. Dietary restrictions and specific health conditions are also contributing to the restraint on the donuts market.
Consumers who follow special diets, such as those with diabetes and certain allergies, need to limit their intake of high-sugar and high-fat foods. These individuals are opting for healthier snack options that align with their dietary requirements, reducing their consumption of donuts and restraining market growth.
Market Segment Analysis
The global donuts market is segmented based on type, end user, and region.
Increasing Demand for Distinct Taste and Longer Shelf Life Cake Style Donuts
The cake-style segment holds the largest share of the global donuts market. Cake style donuts have a distinct taste and texture that appeals to a wide range of consumers. The denser and crumbly texture of cake donuts and their slightly sweet flavor offer a satisfying eating experience. This characteristic is leading to a strong consumer preference for cake style donuts, driving their popularity and market demand.
Cake-style donuts have a longer shelf life compared to yeast-raised donuts. The denser composition of cake donuts is allowing them to retain moisture for an extended period, making them a convenient and durable option for both consumers and businesses. This longer shelf life is contributing to its widespread availability in various retail outlets, including bakeries, coffee shops, supermarkets, and convenience stores, further boosting the cake style segment market share.
Market Geographical Share
Increasing Creative and Innovative Donut Products In North America
North America has emerged as a dominant force in the global donuts market. North America often sets influential trends in the donut market. Creative and innovative donut flavors, hybrid creations, and collaborations with popular brands and celebrities often originate from North America. These trends are attracting attention and driving consumer interest, consolidating North America's position as a dominant force in the global donuts market.
For instance, in January 2020, Krispy Kreme Doughnuts, Inc. launched a new line of mini doughnuts in the U.S. These mini treats are designed to provide consumers with a guilt-free indulgence, as they contain 90 fewer calories compared to regular-sized doughnuts.
Major Key Players
The major global donuts market players include Dunkin’ Brands, Daylight Donuts, Mister Donuts, Honey Dew Donuts, Krispy Kreme, Tim Horton’s, Robin’s Donuts, Donut King, Mad Over Donuts, and J.CO Donuts.
COVID-19 Impact on Market
The donuts market faced disruptions due to lockdown measures and restrictions imposed to contain the spread of the virus. Many donut shops and bakeries experienced temporary closures or reduced operating hours, leading to a decline in sales and revenue. The disruptions in the supply chain, including ingredient sourcing and distribution, also impacted the availability of donuts in the market.
However, the pandemic led to changes in consumer behavior and preferences. With people staying at home more often, there was a decrease in on-the-go snacking occasions, which traditionally drive donut consumption. Additionally, health and safety concerns influenced consumer choices, with a greater emphasis on healthier and more hygienic food options. This shift in consumer behavior affected the demand for donuts, particularly during the early stages of the pandemic.
Artificial Intelligence Impact Analysis
Artificial intelligence (AI) is playing a role in product development by analyzing consumer preferences, trends, and feedback to identify new flavor combinations, toppings, and formulations. Machine learning algorithms can analyze vast amounts of data to identify patterns and make predictions about consumer preferences, helping donut manufacturers and retailers create innovative products that resonate with their target market.
AI can optimize the donut market's supply chain by predicting demand, optimizing inventory levels, and streamlining logistics. Machine learning algorithms can analyze historical sales data, seasonal trends, and external factors to generate accurate demand forecasts. This helps businesses optimize their production schedules, reduce waste, and ensure timely delivery to meet customer demands effectively.
By Type
- Cake Style
- Yeast Style
By End User
- Food Service Centers
- Retail Stores
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On September 17, 2022, Dawn Foods introduced its transformative donut glaze technology. This innovative glaze technology brings a delightful twist to traditional glazes, enhancing the texture and taste while ensuring a smooth and enjoyable indulgence.
- On August 18, 2022, Krispy Kreme introduced a line of hand-cut, premium donuts that offer a higher-priced indulgence. This strategic move showcases Krispy Kreme's commitment to expanding its product portfolio and catering to discerning consumers who seek a more elevated donut experience. The hand-cut donuts boast artisanal craftsmanship and attention to detail, delivering a unique texture and flavor profile.
- On August 24, 2022, Rich Products launched its new Fully Finished Donut Portfolio. This portfolio encompasses a range of eight delicious flavors, including cake, glazed rings, iced, sprinkled, and filled varieties. Designed to be convenient and hassle-free, these donuts are ready-to-serve and easy to handle.
Why Purchase the Report?
- To visualize the global donuts market segmentation based on type, end user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the donuts market level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global donuts market report would provide approximately 53 tables, 46 figures, and 99 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
