Doughnuts Market By Type (Yeast Doughnut, Cake Doughnut) , By Product Type (Chocolate Doughnut, Fruit Flavored Doughnut, Glazed Doughnut, Others) By Distribution Channel (Supermarkets-Hypermarkets, Specialty Stores, Convenience Stores, Online Retails, Bakery, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The doughnuts market was valued at $13.7 billion in 2023, and is projected to reach $18.8 billion by 2033, growing at a CAGR of 3.3% from 2024 to 2033.
Doughnut is a ring-shaped confectionary product coated with sugar, glaze, icing, or other toppings, adding sweetness and flavor. Vanilla, chocolate, cinnamon, and fruit-flavored glazes are the common flavorings used.
The growth of the global doughnuts market is majorly driven by expansion of doughnuts chains and franchises across the globe. For instance, Dunkin' Donuts, a popular American doughnut chain, expanded to over 12,000 locations across 40 countries, to strengthen its brand visibility. In addition, increase in health consciousness and rise in demand for gluten-free, low-sugar, and baked variants is encouraging major doughnut brands to develop healthier options to meet varying consumer demands.
However, high sugar and calorie content of doughnuts and alarming increase in prevalence of health concerns associated with high sugar intake restrain the growth of the market. In addition, rise in public health campaigns and government initiatives aimed at reducing sugar consumption contribute to a decrease in the global doughnuts demand, thus hampering the market growth. For instance, the Sugar Smart campaign by Public Health England aims to reduce sugar intake among families by educating them about the high sugar content in common foods and promoting healthier alternatives.
On the contrary, surge in demand for premium doughnuts among Gen Z due to their high spending power and rise in trend of food vlogging on various social media platforms such as Facebook, Instagram, and YouTube are expected to offer remunerative opportunities for the expansion of the global market during the forecast period. According to British Baker's Bakery Survey Europe 2022, 72% of Gen Z consumers claimed that social media influences their purchase of sweet baked confectioneries.
The doughnuts market is segmented into type, product type, distribution channel, and region. On the basis of type, the market is bifurcated into yeast doughnut and cake doughnut. As per product type, it is divided into chocolate doughnuts, fruit flavored doughnuts, glazed doughnuts, and others. Depending on distribution channel, it is segregated into supermarkets/hypermarkets, specialty stores, convenience stores, online retails, bakeries, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsBy type, the yeast doughnuts segment held the highest market share in 2023, and is expected to maintain its leadership status during the forecast period.
Depending on product type, the chocolate doughnuts segment dominated the market, in terms of share, in 2023.
On the basis of distribution channel, the specialty segment was the major shareholder in 2023.
Region wise, Asia-Pacific was the major revenue contributor in 2023.
Competition AnalysisThe competitive analysis and profiles of the major players in the global doughnuts market include JAB Holding Company, The Restaurant Brands International, Inc., Daylight Donut Flour Co. LLC, Doughnut Time, Grupo Bimbo, S.A.B. de C.V., J.CO Donuts & Coffee, Dunkin Brands, Inc., McDonald’s Corporation, MTY Food Group Inc., and Retail Food Group These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition.
Key Market SegmentsBy TypeYeast Doughnut
Cake Doughnut
By Product TypeChocolate Doughnut
Fruit Flavored Doughnut
Glazed Doughnut
Others
By Distribution ChannelSupermarkets-Hypermarkets
Specialty Stores
Convenience Stores
Online Retails
Bakery
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market Players
JAB Holding Company
The Restaurant Brands International, Inc.
Daylight Donut Flour Co. LLC
Doughnut Time
Grupo Bimbo, S.A.B. de C.V.
J.CO Donuts & Coffee
Dunkin Brands, Inc.
McDonald’s Corporation
MTY Food Group Inc.
Retail Food Group Limited