The doughnuts market is expected to grow by USD 5.02 billion from 2020 to 2025, progressing at a CAGR of 4% per the latest market report by Technavio.
35% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for doughnuts in North America. Market growth in this region will be faster than the market growth in the European, MEA, and South American regions. Improved living standards and the rise in the number of middle-class families will facilitate the doughnut market growth in North America over the forecast period.
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Doughnuts Market: Growing demand for healthier doughnuts is a major trend
The growing demand for healthier doughnuts is a major trend supporting the market share growth. Doughnuts are one of the most popular types of pastry consumed in the US, both at home and away from home, and the sales of doughnuts sales accounted for over 20% of the total pastry sales in 2015. However, the demand for healthier varieties like whole grain, high fiber, low-fat, all-natural, and fortified options has increased with changing consumer lifestyles. Many people across the globe prefer fresh and home-cooked foods rather than unhealthy processed or pre-packaged, as well as foods with high calories. New vendors are launching healthier with less sugar content to meet this demand. Many bakers are using organic, nutritious, and fibrous ingredients like nuts, raw cocoa, fruit, and coconut oil in their products.
Doughnuts Market: Growing number of stores and retail outlets to drive growth The key factor driving growth in the market is the growing number of stores and retail outlets. The culture of socializing at cafés has become popular among urban youth. The increased influx of people to urban areas and a substantially large white-collared demographic segment have necessitated an increase in the number of food service outlets. Varied tastes and preferences for different types of food and beverages, such as fresh baked goods and hot beverages, have further led to the emergence of doughnut shops, coffee shops, and quick-service restaurants (QSRs). The growing popularity of malls and shopping centers has also encouraged many new players to invest substantially in the distribution of doughnuts through these centers. The growth in the infrastructure in developing countries, like new airports and highways, also provides scope for major coffee chains to establish new outlets
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Doughnuts Market: Segmentation Analysis
This market research report segments the market by Product (yeast and cake doughnuts), End-user (food service and retail), and Geography (North America, Europe, APAC, South America, and MEA).
The doughnuts market share growth in the yeast doughnuts segment will be significant for revenue generation. Major retail outlets like Krispy Kreme Doughnuts (a subsidiary of JAB Holding Co. Sarl) and Dunkin’ Brands Group Inc. mostly offer traditional yeast-raised doughnuts. Glazed yeast are the most popular type of doughnut across the world. Vegan yeast-raised doughnuts are gaining prominence among vegan consumers, especially in developed countries like the US and Canada. Vendors are extensively offering such doughnuts in the market. Therefore, such offerings by vendors are expected to contribute to the growth of the yeast segment of the market during the forecast period.
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