1 Global Doughnuts Market Size (Value) and CAGR (2024-2033)
In 2024, the global Doughnuts market was valued at USD 28160 million, with a CAGR of 4.5% from 2024 to 2033.
A doughnut, also known as a donut, is a popular sweet snack enjoyed by many around the world. It is typically made from a deep-fried or baked dough and can come in various shapes, such as ring, ball, or filled varieties. Doughnuts are often flavored with sugar, chocolate, or maple glazing and can be found in bakeries, supermarkets, and specialized doughnut shops. The versatility in flavors and forms has contributed to its widespread appeal.
Figure Global Doughnuts Market Size (M USD) and CAGR 2024-2033
2 Doughnuts Market Drivers
The global doughnuts market has experienced significant growth over the past few years, driven by a variety of factors that have contributed to its expanding popularity. One of the primary drivers of this growth is the increasing demand for convenient and indulgent snacks, particularly in regions such as North America and Europe. Doughnuts, with their wide range of flavors and forms, have become a favorite among consumers looking for a quick and satisfying treat. Additionally, the rise in disposable incomes has allowed consumers to spend more on premium and specialty doughnuts, further boosting market growth.
Another significant driver is the expanding presence of major doughnut chains such as Dunkin’ Brands, Krispy Kreme, and Tim Hortons. These companies have leveraged their brand strength and extensive distribution networks to capture a significant share of the market. The introduction of new product lines, including low-sugar and low-fat doughnuts, has also helped to cater to health-conscious consumers, thereby broadening the market’s appeal.
3 Doughnuts Market Restraints
Despite its growing popularity, the doughnuts market faces several challenges and restraints that could impact its future growth. One of the most significant challenges is the lack of nutritional value in traditional doughnuts. High sugar content and the use of unhealthy ingredients have led to concerns about the health implications of consuming doughnuts regularly. This has resulted in some consumers avoiding doughnuts altogether, especially those following a health-conscious diet.
Another challenge is the fluctuating prices of raw materials. Key ingredients such as sugar, flour, and eggs are subject to market volatility, which can lead to increased production costs. Manufacturers often have to balance maintaining profitability with keeping prices competitive, which can be a delicate task. Additionally, the emergence of alternative snacks and sweet treats has intensified competition in the market. Consumers now have a wide variety of options to choose from, and the popularity of healthier alternatives can lead to reduced demand for traditional doughnuts.
4 Global Doughnuts Market Size by Type in 2024
Cake Style doughnuts are a popular choice, particularly in North America and Europe, where they are known for their dense and moist texture. These doughnuts are made from a special type of cake batter, which is fried with oil constituting about 20% of the total weight. The frying process takes approximately 90 seconds at an oil temperature of 180-190 degrees Celsius. In 2024, the Cake Style segment is projected to account for around 6574 M USD of the total market value. This type of doughnut is versatile in flavors, ranging from classic vanilla and chocolate to more innovative options like red velvet and caramel, making it a staple in many bakeries and doughnut shops.
Yeast Style doughnuts, on the other hand, are characterized by their light, airy texture and chewy consistency. These doughnuts are made using flour with a protein content of about 9% to 12%, which helps achieve a soft and porous structure. The use of yeast as a leavening agent is crucial in the preparation of this type of doughnut. In 2024, the Yeast Style segment is expected to be valued at around 4821 M USD.
Table Global Doughnuts Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
Cake Style | 6574 |
Yeast Style | 4821 |
5 Global Doughnuts Market Size by Application in 2024
Food Service: This segment includes restaurants, cafes, coffee shops, and other dining establishments that serve doughnuts as part of their menu. In 2024, the Food Service application is projected to account for approximately 9563 M USD of the total market value. This segment is particularly strong in North America and Europe, where the tradition of enjoying doughnuts with coffee or as a breakfast item is deeply rooted. The Food Service application benefits from the convenience of on-the-go consumption and the social aspect of enjoying doughnuts in a café setting.
Retail: This segment encompasses supermarkets, convenience stores, and specialty doughnut shops that sell doughnuts for take-home consumption. In 2024, the Retail application is expected to be valued at around 17431 M USD. Retail sales are driven by the availability of a wide variety of doughnuts, including both fresh and packaged options. This segment is particularly strong in regions with high consumer demand for convenient and ready-to-eat snacks.
Table Global Doughnuts Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Food Service | 9563 |
Retail | 17431 |
6 Global Doughnuts Market Size by Region in 2024
North America, comprising the United States, Canada, and Mexico, is the largest market for doughnuts. In 2024, it is expected to account for approximately 14035 M USD of the total market value. The United States alone holds a significant share, driven by the presence of major doughnut chains such as Dunkin’ Brands and Krispy Kreme. The market in North America benefits from high consumer demand for convenient snacks and a strong tradition of enjoying doughnuts as part of breakfast or as a quick treat.
Europe is the second-largest market for doughnuts, with a projected value of around 7149 M USD in 2024. Countries such as Germany, the UK, and France have a strong tradition of baked goods, and doughnuts have become increasingly popular in recent years. The European market is characterized by a preference for high-quality, artisanal doughnuts, often enjoyed with coffee in a café setting. The market benefits from a growing demand for indulgent treats and a strong café culture.
The Asia-Pacific region, including countries like China, Japan, and Australia, is a rapidly growing market for doughnuts. In 2024, it is expected to be valued at approximately 3250 M USD. The market in this region is driven by increasing disposable incomes, urbanization, and the influence of Western food trends. Doughnuts are becoming more popular as a convenient snack, particularly among the younger population. The region also benefits from the expansion of international doughnut chains and the introduction of localized flavors to cater to local tastes.
Figure Global Doughnuts Market Size by Region in 2024
7 Major Players in Global Doughnuts Market
7.1 Dunkin’ Brands
Company Profile: Dunkin’ Brands is a leading global quick-service restaurant company with a strong presence in the coffee and baked goods market. Founded in 1950, Dunkin’ is known for its wide range of coffee beverages and doughnuts. The company operates under the Dunkin’ Donuts and Baskin-Robbins banners and has expanded its footprint to over 12,600 restaurants in 40 countries. Dunkin’ Brands is headquartered in Canton, Massachusetts, USA, and is part of the Inspire Brands restaurant family.
Business Overview: Dunkin’ Brands is renowned for its all-weather coffee and baked goods, particularly doughnuts. The company offers a variety of doughnut types, including Cake Style and Yeast Style, with numerous flavors and toppings. Dunkin’ has been a market leader in hot and flavored coffee, frozen coffee, doughnuts, bagels, and muffins. The company’s success is attributed to its strong brand loyalty, extensive menu offerings, and strategic partnerships with other businesses.
Product Offered: Dunkin’ Brands offers a wide range of products, including classic doughnuts like the Munchkins® doughnut, which is a popular choice among consumers. The company also offers a variety of coffee beverages, breakfast sandwiches, and other baked goods. Dunkin’ has been innovative in introducing healthier options and seasonal flavors to cater to changing consumer preferences.
Recent Financial Performance: In the past year, Dunkin’ Brands reported sales of approximately 621.8 million units, with a revenue of 783.59 million US dollars.
7.2 Krispy Kreme
Company Profile: Krispy Kreme is a well-known doughnut chain with a rich history dating back to 1937. The company is headquartered in Winston-Salem, North Carolina, USA, and is part of the JAB Holdings group. Krispy Kreme is famous for its high-quality doughnuts and has expanded its operations to multiple countries worldwide.
Business Overview: Krispy Kreme is recognized for its original glazed doughnut, which has become a symbol of the brand. The company offers a variety of doughnut types, including Cake Style and Yeast Style, with numerous flavors and fillings. Krispy Kreme’s business model focuses on providing fresh, high-quality doughnuts through its extensive network of stores and franchises. The company also emphasizes customer experience and brand loyalty through its unique store designs and marketing strategies.
Product Offered: Krispy Kreme offers a wide range of doughnuts, including classic glazed, filled doughnuts, and specialty flavors. The company is known for its innovative product launches, such as seasonal and limited-time offers, which attract a broad customer base. Krispy Kreme also offers coffee beverages and other baked goods to complement its doughnut offerings.
Recent Financial Performance: In the past year, Krispy Kreme reported sales of approximately 526.2 million units, with a revenue of 565.76 million US dollars.
7.3 Tim Hortons
Company Profile: Tim Hortons is a Canadian fast-food chain known for its coffee and doughnuts. Founded in 1964, Tim Hortons has grown to become one of the largest fast-food chains in Canada and has expanded its presence to other countries, including the United States, the United Kingdom, and the Middle East. The company is headquartered in Oakville, Ontario, Canada, and is part of the Restaurant Brands International group.
Business Overview: Tim Hortons is renowned for its coffee and doughnuts, which are staples in many Canadian households. The company offers a variety of doughnut types, including Cake Style and Yeast Style, with numerous flavors and fillings. Tim Hortons’ business model focuses on providing high-quality, affordable food and beverages through its extensive network of stores. The company is also known for its strong community involvement and brand loyalty.
Product Offered: Tim Hortons offers a wide range of doughnuts, including classic glazed, filled doughnuts, and specialty flavors. The company also offers a variety of coffee beverages, breakfast sandwiches, and other baked goods. Tim Hortons is known for its innovative product launches and seasonal offerings, which attract a broad customer base.
Recent Financial Performance: In the past year, Tim Hortons reported sales of approximately 264.8 million units, with a revenue of 286.16 million US dollars.