Doughnuts Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Product Type, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2024-2033

Key Market Dynamics 

The expansion of doughnut shop chains and franchises globally significantly boosts market demand for the doughnuts industry by increasing accessibility, brand visibility, and consumer convenience. As these chains expand their reach into new markets, brands introduce doughnuts to a wider audience and capitalize on growing consumer preferences for indulgent treats. For instance, Dunkin' Donuts is a popular American doughnut chain that has expanded to over 12, 000 locations across 40 countries, with aggressive expansion strategy and recognizable brand. Dunkin' Donuts introduced doughnuts to new markets, thus fueling the demand for these sweet treats worldwide. Similarly, Krispy Kreme, another iconic doughnut chain, has rapidly expanded its presence globally, with over 1, 400 locations in 33 countries. The distinctive glazed doughnuts and innovative flavors have captured the attention of consumers, driving the growth of the doughnut market across continents.  

Moreover, the expansion of doughnut chains often includes innovative marketing strategies and menu offerings tailored to local tastes, further driving consumer interest and demand. For instance, Tim Hortons, a Canadian doughnut chain, has successfully expanded into international markets such as the U.S. and the Middle East by adapting its menu to include region-specific flavors and products. 

However, health concerns regarding the high sugar and calorie content of doughnuts act as a restraining factor on market demand. As consumers become more health-conscious and aware of the potential negative effects of excessive sugar and calorie consumption, they may seek healthier snack options or reduce their overall intake of indulgent treats such as doughnuts. The shift in consumer behavior may lead to a decline in demand for traditional doughnuts, particularly among certain demographic groups such as health-conscious individuals, parents concerned about their children's diets, and those with specific dietary restrictions or health conditions. In addition, public health campaigns and government regulations aimed at reducing sugar consumption may further contribute to a decrease in the demand through the Doughnuts Market Forecast. 

Furthermore, the diversification of product offerings to cater to dietary preferences, including gluten-free, vegan, and organic options, has created numerous opportunities in the doughnut market. By offering gluten-free options, doughnut manufacturers can cater to individuals with gluten intolerance or celiac disease, thus expanding their customer base. Similarly, rise in popularity of veganism has led to increased demand for doughnuts made without animal products. Vegan doughnuts, free from eggs, dairy, and other animal-derived ingredients, appeal to a broader audience seeking plant-based alternatives. Thus, owing to introduction of doughnuts with trending dietary preferences and offering diverse product options, doughnut companies are expected to tap into new market segments and capitalize on the growing demand for healthier and more inclusive snack choices, which is expected to boost the Doughnuts Market Growth.

Value Chain of Global Doughnuts Market 

The value chain of the global doughnut market begins with the procurement of raw materials such as flour, sugar, eggs, and other ingredients. These materials are then utilized in the production process, where dough is prepared, and doughnuts are formed. The next step involves processing and preparation, which includes frying, glazing, or adding toppings to the doughnuts. Once prepared, the doughnuts are distributed to various retail outlets, such as doughnut shops, supermarkets, and convenience stores, as well as foodservice establishments such as cafes and restaurants. Finally, the doughnuts reach the end consumers, who purchase and consume them as a snack or a treat. 

Market Segmentation 

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, the market is divided into chocolate doughnuts, fruit flavored doughnuts, glazed doughnuts, and others. On the basis of distribution channel, the market 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. 

Regional/Country Market Outlook 

• In the U.S. alone, the doughnut market was valued at approximately $9.5 billion in 2022, with major chains such as Dunkin' Donuts and Krispy Kreme dominating the market share. There is a growing demand for healthier doughnut options, such as those made with whole grains, reduced sugar, or alternative sweeteners. Many doughnut chains now offer vegan and gluten-free options to cater to dietary preferences. Doughnut makers are continuously experimenting with unique and creative flavors, such as matcha, yuzu, and bacon-maple, to attract adventurous consumers and stay ahead of trends. 

• According to a report by Euromonitor International, the doughnut market in China was valued at around $220.0 million in 2021 and is expected to grow at a CAGR of around 10.0% between 2022 and 2026. In terms of market share, international chains such as Krispy Kreme and Dunkin' Donuts dominate the Chinese doughnut market, with Krispy Kreme holding a market share of around 30% as of 2021. Major cities such as Shanghai, Beijing, and Guangzhou are leading the growth of the doughnut market in China, driven by the increasing presence of international chains and the rising demand for Western-style bakery products among urban consumers.  

Industry Trends: 

• The processed food manufacturers have started introducing new product variants such as handcrafted, sugar-free, and keto doughnuts to meet the rising demands, which has driven the global doughnuts market share. Further, the consumers are becoming conscious about the food they are consuming and hence, are demanding food products that can offer them nutritional benefits. The rise in health consciousness among consumers has led to an increase in popularity and demand for gluten-free and whole-grain doughnuts, which has augmented the market growth. For instance, in 2020, Kane’s Donuts launched gluten-free, dairy-free, and nut-free donuts in the U.S., owing to the rise in gluten and dairy allergy prevalence in the country.  

• Based on data from the UN Comtrade, India's exports of bread, pastry, cakes, and other bakery products amounted to $407.6 million in 2022, which crossed the previous year's exports valued at $346.8 million. Thus, the increased sales of bakery products in Asia-Pacific countries including India are expected to boost the doughnuts market size across the region. 

Competitive Landscape 

The major players operating in the doughnuts market include JAB Holding Company, The Restaurant Brands International, Inc., Daylight Donut Flour Co. LLC, Doughnut Time, Grupo Bimbo, J.CO Donuts & Coffee, Dunkin Brands, Inc., McDonald’s Corporation, MTY Food Group Inc., and Retail Food Group. 

Other players in doughnuts market includes Winchell's Donut House, Voodoo Doughnut, Randy's Donuts, Shipley Do-Nuts, Top Pot Doughnuts, and others. 

Recent Key Strategies and Developments 

• 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. 

• In June 2020, Tim Hortons, under its parent company Restaurant Brands International, Inc., announced the launch of Dream Donuts, a new line of handcrafted doughnuts in the U.S. to offer consumers premium doughnuts made with specialty ingredients and further expand the range of offerings. 

Key Sources Referred 

1. Organic Trade Association (OTA)  

2. Euromonitor International  

3. FiBL (Research Institute of Organic Agriculture)  

4. USDA Economic Research Service (ERS)  

5. Food and Agriculture Organization of the United Nations (FAO)  

6. National Restaurant Association (NRA)  

7. Agricultural & Processed Food Products Export Development Authority (APEDA)  

8. India Brand Equity Foundation 

9. U.S. Department of Agriculture (USDA)  

10. Bureau of Labor Statistics (BLS)

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the doughnuts market analysis from 2024 to 2033 to identify the prevailing doughnuts market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the doughnuts market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as global doughnuts market trends, key players, market segments, application areas, and market growth strategies.