Doughnuts Market Size, Share & Industry Analysis, By Base Type (Yeast Doughnuts and Cake Doughnuts), By Distribution Channel (Food Service Channels and Retail Channels [Supermarkets/Hypermarkets, Convenience Stores, Online Channels and Others]), and Regional Forecast, 2024-2032

The global doughnuts market size was valued at USD 10.84 billion in 2023 and is projected to grow from USD 11.22 billion in 2024 to USD 15.12 billion by 2032, exhibiting a CAGR of 3.79% during the forecast period. North America dominated the doughnuts market with a market share of 53.97% in 2023. Moreover, the doughnuts market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 4.20 billion by 2032, driven by high popularity of the product in country market size, coupled with increasing number of restaurant chains offering doughnuts in the country.

A doughnut is a small ring-shaped sweet indulgence that is fried or baked from leavened dough. The global doughnut market is expected to continue its growth trajectory in the coming years, driven by factors such as increasing urbanization, rising disposable incomes, and ongoing product innovation. The focus on healthier options such as gluten-free and sugar-free donuts would likely become more prominent, catering to evolving consumer preferences.

The COVID-19 pandemic led to the widespread closure of bakeries, cafes, and restaurants, significantly leading to a sharp decline in donut sales. However, the pandemic accelerated the sales of donuts from online sales channels.

Doughnuts Market Trends

Growing Consumer Demand for Healthier Baked Goods to Boost Market Growth

Consumers are increasingly concerned about the sugar content and gluten content in their food choices. Therefore, health-conscious consumers sought sweet and gluten alternatives to satisfy healthier indulgences. Manufacturers have been responding to this growing trend for healthier indulgences and launching innovative products in the market. For instance, in April 2023, Planet Bake, a U.S. donut brand, launched its first vegan, grain-free, and sugar-free donut range. The new product range is made with almond flour, avocado oil, flax, pea protein, and other healthy ingredients.

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Doughnuts Market Growth Factors

Rising Popularity of Cafe Culture to Boost Market Growth

Coffee and donuts form a classic pairing loved by a wide number of consumers. Cafes that offer both products can create a synergistic effect, where the presence of one product encourages the purchase of the other. Moreover, cafes extend the consumption occasion for donuts beyond breakfast, allowing consumers to enjoy them as snacks, desserts, or during study or work breaks. According to Shipley Do-Nuts, a famous U.S. donut chain, out of every 100 donuts baked, roughly 75 are enjoyed in the morning alongside coffee. Cafes offer premium donut experiences that go beyond the typical grab-and-go option, further enhancing the overall value proposition of the donut.

Growing Interest for Artisanal and Novel Bakery Products Coupled with Rising Occasional Indulgences to Boost the Demand for Doughnut

Sweet treats such as donuts are often associated with celebrations and special occasions, satisfying the desire for occasional indulgences. The food industry constantly introduces unique flavors, textures, and visual appeal, attracting consumers seeking novel experiences. For instance, in November 2023, Krispy Kreme launched iconic donut flavors for their fall collection. The new products include flavors such as caramel pecan brownie donuts, cinnamon latte lover donuts, classic blackberry crisp-filled donuts, spiced apple-filled donuts, and others. The rising disposable incomes among consumers further fuel the demand for gourmet and artisanal baked products including donuts. For instance, in January 2024, Dough-Luxe, a new artisan bakery, launched gourmet bites and artisan sweet treats, including donuts, fudge cakes, and others.

RESTRAINING FACTORS

Growing Health Awareness and Presence of Excessive Sugars to Hamper Market Growth

Growing consumer awareness of health issues related to excessive sugar consumption can dampen the demand for doughnuts, especially among health-conscious consumers. According to the U.S. Department of Agriculture (USDA), an average glazed doughnut contains 14 grams of sugar, about 253 calories and 14 grams of fat. Consumers are increasingly aware of the health risks associated with sugar consumption, including weight gain, type 2 diabetes, heart diseases, and other issues, leading to reduced consumption of sugary treats.

Doughnuts Market Segmentation Analysis

By Base Type Analysis

Yeast Segment to Lead the Market Owing to Affordability, Light, and Fluffy Texture 

By base type, the market is divided into yeast doughnuts and cake doughnuts.

The yeast segment is expected to hold a major global doughnuts market share. Yeast doughnuts are generally more affordable compared to cake donuts, making them accessible to a wide range of consumers. Furthermore, several unique factors of yeast contribute to the donut’s light and fluffy texture with a mild flavor.  Manufacturers are constantly innovating with new flavor combinations, fillings, and toppings, fueling the growth of the yeast donut segment. For instance, in May 2022, Golden Dough Foods, a Florida-based startup, launched a full-sized yeast-raised donut with an extended shelf life. The company launched the new products under the brands Golden Dough & Co. and La Panadería Dulce. The new products are available in five flavors, including signature golden glaze, strawberry-flavored glaze, hot honey-flavored glaze, mango-flavored glaze, and spicy mango-flavored glaze.

The cake segment is expected to grow considerably in the global doughnuts market forecast period. Consumers are increasingly drawn to premium, gourmet, and artisanal donuts perceived as higher quality and offering unique flavor experiences. The cake segment often caters to this trend, posing considerable growth in the coming years.

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By Distribution Channel Analysis

Food Service Channels Segment to Hold Largest Share Owing to High Convenience and Accessibility

Based on distribution channel, the market is classified into food service channels and retail channels.

The food service channels segment is expected to hold the largest doughnut market share. Foodservice channels such as quick service restaurants, cafes, and bakeries offer easy access to donuts for consumers seeking a quick snack or treat. The wide availability of these establishments makes donut a convenient on-the-go option. Quick-service restaurants also offer freshly made donut options and a variety of flavors compared to packaged options. According to a consumer research report of Krispy Kreme Doughnut Inc., one of the emerging companies in America, 51% of consumers preferred buying freshly baked donut through Delivery Fresh Daily (DFD).

The retail segment is expected to grow considerably in the forecast period. The growing popularity of online grocery shopping, supermarkets and convenience stores has been contributing to increased retail sales of donut. Retailers are developing their private-label donut brands, offering competitive pricing and wider availability. Retailers also offer donuts that have a longer shelf life and prepackaged options catering to consumers seeking convenience and portability.

REGIONAL INSIGHTS

Geographically, the market is studied across North America, the Middle East & Africa, Europe, Asia Pacific, and South America

North America doughnut market value stood at USD 5.85 billion in 2023 and is expected to hold a major market share. The U.S. and Canada are the major donut-consuming countries in the region. According to Shipley Do-Nuts, a famous U.S. donut chain, Americans consume over 10 billion donuts every year. The region also has established chains such as Dunkin' donuts, Krispy Kreme and Mister Donut, holding a significant market share. Moreover, the increasing focus toward tasty, healthy snacks paired with the rising popularity of grab-and-go bakery snacks further fuel the doughnut market growth. Players in the market are also expanding donut chains in the region in order to meet the rising demand for the product. For instance, in October 2023, Shipley Do-Nuts expanded its new doughnut shop in Colorado.

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Europe is expected to be the second-leading region and accounts for significant bakery market shares owing to factors such as convenience and affordability. The hectic lifestyles and busy schedules of consumers have augmented demand for ready-to-eat products such as donuts. Consumers in the region have been consuming donuts for enjoyment and indulgence. However, in recent times, there has been an increasing trend toward a healthy lifestyle, shifting consumer interests toward gluten-free, vegan, and sugar-free baked products. Manufacturers have been responding to this trend by launching innovative products and catering to the rising demand. For instance, in January 2024, Dunkin’ Donuts unveiled a vegan doughnut in the U.K., available in three flavors, including original glazed, Boston creme, and strawberry rainbow.

Asia Pacific is expected to hold immense opportunities for the donut market growth. The growth in the region has been due to the rising number of bakeries and specialty shops and the rising adoption of Western food cultures. The urbanization of populations across the region, as well as rising disposable incomes, further cater to munching habits or snack cravings. Moreover, China, India, and Japan form potential markets as major players set up businesses in these countries due to rising demand. Mister Donut and Krispy Kreme doughnut shops are popular chains in Japan catering to growing consumer preferences. For instance, in January 2024, Mister Donut, Japan’s premier doughnut chain, collaborated with Belgian-based chocolate company Godiva to launch a range of donut that contain Godiva chocolate in the dough and the toppings in Japan.

South America is expected to register a considerable growth. Major consumers of doughnuts in the region include Brazil, Chile and Colombia. The high inclusion of bakery goods in their daily diets and the rising snacking culture projects huge demand. The prominent players in the region are also incorporating familiar South American flavors, including Dulce de leche, catering to the local demand. For instance, in December 2022, NotCo, a unicorn Chilean food-tech Company, partnered with Dunkin' donuts to introduce three vegan donuts, which are a dairy-free version of "manjar," a signature Chilean treat similar to Dulce de leche.

The market in the Middle East & Africa is anticipated to witness substantial growth owing to growing urbanization, rising numbers of cafés and bakeries, and growing exposure to Western cultures and food trends. For instance, in October 2022, Dunkin' donuts, a U.S. coffee and donut chain, boosted its presence in Saudi Arabia by opening 30 new stores across the country in a single day.

KEY INDUSTRY PLAYERS

Industry Players Focus on Expansion Strategies to Widen their Market Presence

The market consists of several upcoming and established companies and is fragmented with specific companies holding prominent market share. Industry giants, such as Krispy Kreme, Inc., Dunkin' donuts, Entenmann's and others, have been scaling up production and focusing on base expansion to cater to the rising demand for donuts and strengthen their presence in the global market. For instance, in February 2024, Krispy Kreme, Inc. is set to open a new manufacturing facility in South Florida. The donut chain has been investing in such strategies in order to support its expanding Delivered Fresh Daily (DFD) network. The new facility would ramp up donut production and offer products to McDonald’s chains, grocery stores, and convenience stores across the country.

LIST OF TOP DOUGHNUTS COMPANIES:

• Krispy Kreme, Inc. (U.S.)


• Dunkin' Donuts (U.S.)


• Grupo Bimbo (Mexico)


• McKee Foods Corporation (U.S.)


• Tim Hortons (Canada)


• Shipley Do-Nuts (U.S.)


• Mighty-O Donuts (U.S.)


• Beiler's Doughnuts (U.S.)


• Mister Donut (U.S.)


• Winchell’s Donut House (U.S.) 

KEY INDUSTRY DEVELOPMENTS:

• May 2024: Krispy Kreme partnered with Dolly Parton, an American singer-songwriter, and launched the "Dolly Southern Sweets Doughnut Collection". The new product range includes Dolly Dazzler Doughnut, Peachy Keen Cobbler Doughnut, Banana Puddin' Pie, and Chocolate Créme Pie.


• November 2023: McCormick & Company, an American food company, partnered with Dough Doughnuts, a famous doughnut shop in the U.S. and launched a limited-edition collection of holiday-themed doughnut bites.


• November 2023: Krispy Kreme partnered with Warner Bros in order to launch the “Elf” doughnut collection. The new range includes flavors such as New Buddy Snow Globe doughnut, New Christmas Lights doughnut, New Buddy Makes Breakfast doughnut, and Santa Belly doughnut.


• February 2023: Mad Over Donuts, a Singapore-based donut brand, planned to roll out their outlets in Ahmedabad, Hyderabad, Baroda, Kolkata, and Tier II/III markets.


• August 2022: Rich Products Corporation, a wholesale food products and ingredients manufacturer, launched a fully finished doughnut portfolio. The new range includes eight flavors, ranging from glazed rings to cake, iced, filled, and sprinkled.

REPORT COVERAGE

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The market research report includes quantitative and qualitative insights into the market. This market report also offers a detailed regional and global market trends, market statistics, regional and global market share, and growth rate for all possible market segments. The global market analysis report provides various key insights on the market, an overview of related markets, the competitive landscape, recent industry developments such as mergers and acquisitions, the regulatory scenario in critical countries, and key industry trends.

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