Global Doughnuts Market 2017-2021
A doughnut or donut is a type of fried dough confectionery, usually eaten as a dessert or snack. It is popular in many countries and prepared in various forms as a sweet snack that can be homemade or purchased in outlets. Baked goods are convenient and ideal for on-the-go consumption. This factor also contributes to the growth of the market. However, an increased focus on health and growing awareness of the benefits of a diet rich in proteins, vitamins, and fiber can pose a threat to the global fresh baked goods market during the forecast period.
Technavio’s analysts forecast the global doughnuts market to grow at a CAGR of 5.47% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global doughnuts market for 2017-2021. To calculate the market size, the report considers value sales in both retail and food service.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Doughnuts Market 2017-2021
Technavio recognizes the following companies as the key players in the global doughnuts market: Daylight Donut Flour Company, Dunkin' Brands Group, Krispy Kreme Doughnuts, Mister Donut, and Restaurant Brands International.
Other Prominent Vendors in the market are: Cinnabon, Country Style, Dough, Bimbo Bakeries, Glory Hole Doughnuts, Honey Dew Donuts, J.CO DONUTS & COFFEE, Jelly modern doughnuts, LaMar’s Donuts, Mad Over Donuts, Maple Donuts, McDonald’s, Starbucks, Sugar Shack Donuts, THE DOUGHNUT TIME, and Winchell's Donut House.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new product launches. Continuous development and innovation are essential for the sustainability of any industry. Over the years, there has been a high demand for freshly baked products like doughnuts due to their convenience. Many bakers are experimenting with new flavors and creating new kinds of doughnuts to differentiate their product offerings.”
According to the report, one driver in the market is growing number of stores and retail outlets. The culture of socializing at cafés has become popular among the 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 foodservice 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).
Further, the report states that one challenge in the market is fluctuating prices of raw materials. Depending on the availability, raw materials that are required to produce doughnuts, such as sugar, eggs, flour, cocoa, and milk, can have fluctuating prices. Also, in recent years, the widening gap between demand and supply has increased the costs of raw materials substantially. Any increase in the price of raw materials not only increases the manufacturing costs, but also reduces the profit margins for vendors. Also, to remain competitive in the market, manufacturers generally experiment with cheaper substitutes.
Daylight Donut Flour Company, Dunkin' Brands Group, Krispy Kreme Doughnuts, Mister Donut, Restaurant Brands International, Cinnabon, Country Style, Dough, Bimbo Bakeries, Glory Hole Doughnuts, Honey Dew Donuts, J.CO DONUTS & COFFEE, Jelly modern doughnuts, LaMar’s Donuts, Mad Over Donuts, Maple Donuts, McDonald’s, Starbucks, Sugar Shack Donuts, THE DOUGHNUT TIME, and Winchell's Donut House.