Global Donuts Market - 2023-2030

Global Donuts Market - 2023-2030

Global Donuts Market reached US$ 7.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 13.2 billion by 2030. The market is growing at a CAGR of 8.1% during the forecast period 2023-2030.

Donuts are a convenient and portable snack option, making them suitable for on-the-go consumption. With busy lifestyles and increasing urbanization, consumers are seeking convenient food options that can be consumed while commuting and during breaks. The portability and availability of donuts in various grab-and-go formats are fueling its market demand.

Market players are continually introducing innovative flavors, shapes, and fillings to attract consumers and keep up with evolving preferences. This includes the development of gourmet and artisanal donuts with unique ingredients and creative toppings. The constant product innovation and variety in the market are contributing to its growth by captivating consumers with new and exciting offerings.

Market Dynamics
Expansion of Bakery Chains and Cafes Offering a Wide Variety of Donuts Drive the Market Growth
The expansion of bakery chains and cafes is providing wide accessibility to donuts. With an increasing number of outlets and locations, consumers have more opportunities to indulge in donuts. These establishments often are a dedicated display of freshly baked donuts, attracting customers and creating a heightened demand for the donut market.

The wide variety of donuts offered by bakery chains and cafes is playing a crucial role in driving the market. These establishments are introducing innovative flavors, unique fillings, and creative toppings, enticing customers with a diverse range of options. The availability of different flavors and customization choices are enhancing the appeal of donuts and encourages repeat purchases, contributing to market growth.

Creative and Innovative Flavor Combinations and Toppings Attracting Consumer Interest Drives Market Growth
Creative flavor combinations and toppings are creating a sense of excitement and novelty among consumers. Donut manufacturers and retailers are constantly exploring new and unique flavors, pushing the boundaries of traditional offerings. These innovative creations are capturing consumer attention and generate curiosity, leading to increased consumer interest and demand for the donuts market.

The introduction of innovative flavors and toppings drives repeat purchases and customer loyalty. When consumers discover an appealing and memorable flavor combination, they are more likely to return to the same establishment for future purchases. This loyalty is contributing to sustained demand for donuts and promotes market growth.

Increasing Competition from Alternative Breakfast and Snack Options Hamper the Market Growth
The global focus on health and wellness is influencing consumer choices and eating habits. With an increasing emphasis on nutritious and balanced diets, consumers are exploring options that offer better nutritional profiles. Alternative breakfast and snack options, such as fruit bowls, protein bars, and whole grain products, align with these health and wellness trends, provide competition to donuts in the market, and further restrain the market growth.

The market is witnessing an increase in the availability of healthier snack alternatives that compete with donuts. Nut and seed bars, vegetable chips, air-popped popcorn, and other wholesome snacks are gaining popularity among health-conscious consumers. These alternatives provide convenient and satisfying snack options, potentially reducing the demand for donuts.

COVID-19 Impact Analysis
The global donuts market experienced significant disruptions and shifts in consumer behavior due to the COVID-19 pandemic. Lockdown measures and restrictions resulted in temporary closures and reduced operating hours for many donut shops and bakeries, which has led to a decline in sales. The decrease in on-the-go snacking occasions and the emphasis on health and safety influenced consumer preferences, with a greater focus on healthier and homemade options.

However, as lockdown measures were implemented, many consumers turned to home baking and cooking. This led to a surge in homemade baked goods, including donuts, as consumers sought to replicate the experience of their favorite treats at home. This trend impacted the market, as consumers opted for homemade options instead of purchasing donuts from commercial outlets.

Artificial Intelligence Impact Analysis
Artificial intelligence (AI) enables personalized marketing campaigns and targeted advertising based on consumer preferences and behavior. By analyzing customer data, AI can deliver customized recommendations, offers, and promotions, enhancing customer engagement and driving sales. AI-powered chatbots can also provide personalized customer support and assistance, creating a seamless and efficient customer experience.
AI-powered technologies like facial recognition and smart kiosks can enhance the customer experience in donut shops and bakeries. Facial recognition can enable personalized greetings and customized recommendations based on a customer's previous purchases or preferences. Smart kiosks equipped with AI can streamline the ordering process, enabling customers to customize their donut selections and providing interactive menu displays.

Segment Analysis
The global donuts market is segmented based on type, end user, and region.

Increasing Demand for Donuts with a Wide Expansion of Food Service Centers
The food service centers segment has emerged as a dominant player in the global donuts market, holding the largest share. Food service centers have an extensive network of outlets, often operating in prime locations such as malls, shopping centers, and busy urban areas. This strategic presence is enabling them to cater to a large customer base, including locals, tourists, office-goers, and students. The widespread market reach of food service centers is contributing to their dominance in the global donuts market.

For instance, on February 4, 2023, in East Brisbane, a new pop-up called OMG Decadent Donuts has been introduced by a couple from Wynnum West, aiming to delight locals with their delectable treats.

Geographical Analysis
Growing Demand for Donuts with a Wide Consumption in North America
North America asserts its dominance in the global donuts market through its strong market presence and consumer demand. The region boasts a well-established market for donuts, with a rich history of donut consumption deeply ingrained in its culture. Iconic donut chains and independent shops thrive across North America, offering a wide variety of flavors, fillings, and toppings to cater to diverse consumer preferences.

The market penetration of donuts in North America is widespread, with donut shops present in urban and suburban areas, providing convenient access to consumers. For instance, in June 2020, Tim Hortons, a brand under Restaurant Brands International, Inc. introduced Dream Donuts, a brand new line of meticulously handcrafted doughnuts in the U.S. This launch aims to expand their product portfolio and offer consumers a premium donut experience with specialty ingredients. With Dream Donuts, Tim Hortons is dedicated to providing its customers with a delectable selection of top-tier donuts, elevating their indulgence to new heights.

Competitive Landscape
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.

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 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies