Doughnut Market Anticipated to Grow to US$ 23.7 Bn by 2032 - Persistence Market Research

The global doughnut market is poised for robust growth, projected to expand from USD 17.1 billion in 2025 to USD 23.7 billion by 2032, reflecting a CAGR of 4.8%. Once a humble snack, doughnuts have evolved into gourmet indulgences enjoyed by a wide demographic across the world. This transformation is largely attributed to shifting consumer preferences toward artisanal flavors and innovative formats that cater to varied dietary needs and taste profiles. The expanding presence of cafés, bakeries, and quick-service restaurants (QSRs) has also significantly contributed to the rising demand.

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Rapid urbanization, evolving eating habits, and the increasing pairing of doughnuts with coffee have created a strong market synergy, particularly in urban centers. The introduction of single-serve and multi-pack options has broadened their appeal across household and foodservice sectors.

Key Highlights from the Report:

➤ Gourmet and artisanal doughnuts featuring unique flavors like matcha and maple bacon are trending.
➤ There is increased demand for vegan, gluten-free, and organic doughnuts among health-conscious consumers.
➤ Seasonal offerings, mini doughnuts, and filled varieties are broadening the consumer base.
➤ Customization options for glazes and toppings enhance consumer engagement.
➤ Food delivery partnerships are expanding access and convenience for customers.
➤ Premium ingredients such as exotic fruits and organic flour are enhancing product appeal.

Market Segmentation

By product type, yeast doughnuts dominate due to their light texture and versatility. Chains like Krispy Kreme have built iconic status around their Original Glazed yeast doughnut, which contributes significantly to their revenues. Cake doughnuts and specialty variants like cheese-filled or matcha-flavored doughnuts also hold niche popularity.

On the distribution side, offline channels like QSRs, bakeries, and cafés remain dominant. These venues encourage impulse purchases through visual merchandising and the allure of freshly prepared products. The online segment is growing through delivery apps such as Uber Eats and DoorDash. In terms of packaging, single-serve and multi-pack formats are both gaining traction. End-use segmentation highlights households and the foodservice industry as key consumer bases.

Regional Insights

North America
North America leads the global doughnut market, thanks to strong QSR networks and a deeply ingrained coffee-doughnut culture. Artisanal doughnuts with ingredients like kabocha squash and hojicha are gaining popularity. The recent opening of "I'm Donut" in Times Square, New York, with its chewy Nama-style doughnuts, exemplifies this trend.

Europe
Europe is experiencing growth fueled by its café culture. Doughnuts are increasingly seen as premium snacks that pair well with coffee. Brands like J.CO Donuts & Coffee have entered the market, offering gourmet doughnuts in tandem with specialty coffee, catering to the rising demand among urban millennials.

Asia Pacific
In Asia Pacific, localization of flavors such as red bean and taro has enhanced doughnut appeal. Collaborations like Krispy Kreme Singapore's with Japanese tea brands have introduced limited-edition matcha and hojicha doughnuts. These culturally tailored offerings are resonating strongly with regional consumers.

Market Drivers

One of the main market drivers is the increasing consumer preference for indulgent yet convenient food options. Doughnuts are a preferred snack and breakfast item, particularly in urban environments where convenience and taste are paramount. Strategic collaborations, like the partnership between Mad Over Donuts and Nestlé's KitKat, have kept doughnuts in the limelight by offering novel flavor experiences.

Market Restraints

The market faces challenges due to disruptions in the supply chain and rising prices of core ingredients such as flour and oil. These factors have significantly affected the cost structures, especially for small and mid-sized players. Cocoa prices have more than doubled, while sunflower oil has seen a 56% hike, forcing companies to either absorb costs or pass them on to consumers.

Market Opportunities

There is a substantial opportunity in expanding the range of vegan and gluten-free doughnuts. With growing awareness of food intolerances and lifestyle choices, these options are rapidly gaining popularity. Jelly Modern Doughnuts' launch of gluten-sensitive offerings in 2025 is a case in point, addressing a niche yet growing segment.

Frequently Asked Questions (FAQs):

◆ How big is the global doughnut market currently?
◆ What is the projected growth rate of the doughnut market through 2032?
◆ Which region is estimated to dominate the doughnut industry during the forecast period?
◆ Who are the key players in the global doughnut market?
◆ What is the market forecast for doughnuts for 2032?

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Company Insights

• Krispy Kreme Doughnut Corp.
• Mad Over Donuts
• JCO Donut & Coffee
• Jelly Modern Doughnuts
• McDonald's
• Dunkin'
• LaMar's Donuts
• Maple Donuts, Inc.
• Honey Dew Associates, Inc.
• Planet Bake
• Dough Doughnuts
• DonutExpress
• Daylight Donut Flour Company
• Doughnut Time
• GLORY HOLE DOUGHNUTS

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This release was published on openPR.