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Doughnuts Market size is set to grow by USD 3.21 billion from 2022 to 2027, The growing number of stores and retail outlets drives the market - Technavio
Wednesday, September 13, 2023
NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The doughnuts market size is expected to grow by USD 3.21 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 2.65% during the forecast period. The growing number of stores and retail outlets is notably driving the doughnut market. However, factors such as fluctuating prices of raw materials may impede market growth. The market is segmented by end-user (Foodservice and Retail), product (Yeast doughnuts and Cake doughnuts), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
The growing number of stores and retail outlets is notably driving the doughnut market growth. The trend of socializing at cafes has gained significant traction, particularly among urban youth. The steady migration of individuals to urban centers, coupled with a considerable demographic of white-collar professionals, has spurred the demand for an expanded network of food service establishments. The popularity of malls and shopping centers has acted as an impetus for numerous new entrants to invest substantially in disseminating doughnuts through these bustling hubs. Notably, the surge in infrastructure development within emerging economies, encompassing the establishment of new airports and highways, presents a fertile ground for prominent coffee chains to establish their presence. The heightened frequency of travel to well-visited destinations, both by road and air, has bolstered the consumption of coffee and doughnuts among consumers. Several major doughnut retailers are actively offering franchise opportunities, particularly in markets like India and China. Therefore, such factors are expected to drive the growth of the market during the forecast period.
Key Segment Analysis
The market share growth by the food service segment will be significant during the forecast period. Freshly baked doughnuts have gained widespread popularity in various regions, with their availability spanning multiple food service channels such as bakeries, food stalls, and specialized franchised outlets. Among these, the franchised specialty outlets notably drive the majority of sales in this market segment. This dominance is attributed to franchises' ability to attract a larger consumer base, leveraging the brand's established recognition and robust support network in the global market. Retail operators within the quick-service restaurant (QSR) domain are also inclined towards partnering with doughnut brand franchises due to the enticing profit margins they offer. Such franchises serve as platforms for operators to gather valuable feedback and insights from consumers across different countries, aiding vendors in crafting new doughnut varieties that align with consumer expectations. This approach empowers vendors to regularly introduce fresh doughnut offerings to the market. Consequently, these factors are poised to contribute significantly to the growth of the food service segment within the doughnut market throughout the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
APAC is projected to contribute 47% by 2027. The doughnut market in North America is expected to witness a moderate growth rate during the forecast period. This expansion is underpinned by the enhancement of living standards and the proliferation of middle-class households, acting as catalysts for heightened doughnut demand across the region. A prevailing trend in North America involves the people, both men and women alike, navigating bustling schedules and fast-paced lifestyles, which curtails the time available for home-based meal preparation. As a consequence, a significant portion of consumers opt to visit doughnut establishments for their breakfast needs. Furthermore, the practice of combining doughnuts with coffee for breakfast is a widespread preference, particularly in the US and Canada. Consequently, a mass of specialty coffee shops seamlessly incorporate doughnuts within their menu offerings, catering to this breakfast-oriented consumer behavior in the region.
Company Insights
The doughnut market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Daylight Donut Flour Co. LLC, Dough Doughnuts, Doughnut Time Ltd., Focus Brands LLC, Glory Hole Doughnuts, Corporativo Bimbo SA de CV, Honey Dew Associates Inc., Inspire Brands Inc., J.CO Donuts & Coffee, JAB Holding Co. Sarl, Jelly modern doughnuts, LaMars Donuts, Mad Over Donuts, Maple Donuts Inc., McDonald Corp., MTY Food Group Inc, Restaurant Brands International Inc., Starbucks Corp., Sugar Shack Donuts and Coffee, and Yum Yum Donut Shops Inc.
Challenge
Fluctuating prices of raw materials are a major challenge hindering the doughnut market growth. The pricing of essential raw materials used in doughnut production, such as sugar, eggs, flour, cocoa, and milk, is subject to fluctuations based on their availability. Recent years have witnessed a notable disparity between the demand and supply of these crucial inputs, consequently driving up their costs significantly. Any escalation in raw material prices not only elevates the production expenditure but also erodes profit margins for manufacturers. Moreover, the supply chain for these raw materials can be susceptible to disruptions stemming from adverse weather conditions, national emergencies, labor strikes, government mandates, natural calamities, supply shortages, or unforeseen occurrences. Such scenarios of heightened raw material costs invariably translate into an escalation in the final product prices. This presents a challenge for market players aiming to introduce novel product variations infused with distinct ingredients to enhance the flavor profile of their doughnuts, thereby attracting a broader consumer base. This is due to the fact that surging product prices impact consumer purchasing decisions, ultimately influencing sales volumes and hindering overall market growth.
View PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
Related Reports:
The North America doughnuts market size is estimated to grow at a CAGR of 1.61% between 2022 and 2027. The market size is forecast to increase by USD 689.57 million. This report extensively covers market segmentation by end-user (foodservice and retail), and product (regular-sized yeast doughnuts, regular-sized cake doughnuts, mini-sized yeast doughnuts, and mini-sized cake doughnuts). Increased snacking and indulgence consumption are notably driving market growth.
The fast food market is estimated to grow at a CAGR of 3.28% between 2022 and 2027. The size of the market is forecasted to increase by USD 123.43 billionThis report extensively covers market segmentation by product (non-vegetarian fast food and vegetarian fast food), service type (eat-in, take away, home delivery, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The increasing online presence of fast food vendors is notably driving the fast food market growth.
Doughnuts Market Scope
Report Coverage
Details
Base year 2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR Accelerate at a CAGR of 2.65%
Market growth 2023-2027
USD 3.21 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 1.52
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution APAC at 47%
Key countries
US, China, Japan, UK, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled Daylight Donut Flour Co. LLC, Dough Doughnuts, Doughnut Time Ltd., Focus Brands LLC, Glory Hole Doughnuts, Corporativo Bimbo SA de CV,
Honey Dew Associates Inc., Inspire Brands Inc., J.CO Donuts & Coffee, JAB Holding Co. Sarl, Jelly modern doughnuts, LaMars Donuts, Mad
Over Donuts, Maple Donuts Inc., McDonald Corp., MTY Food Group Inc, Restaurant Brands International Inc., Starbucks Corp., Sugar Shack
Donuts and Coffee, and Yum Yum Donut Shops Inc.
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and
recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Product
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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SOURCE Technavio
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