LONDON--(BUSINESS WIRE)--The global doughnuts market is expected to grow at a CAGR of more than 5% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global doughnuts market for 2017-2021. The market is further categorized into two product segments, which include yeast and cake, of which the yeast segment accounted for more than 63% of the market share in 2016.
“The growth of the global doughnut market can be attributed to the increasing number of retail stores, rising urbanization, and changing consumer lifestyles. New product launches and the increase in demand for healthier doughnuts are major trends that will have a positive impact on the growth of the market over the next five years,” says Manjunath Reddy, a lead food research expert from Technavio.
Technavio’s research analysts segment the global doughnuts market into the following regions:
- Americas
- APAC
- EMEA
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Doughnuts market in the Americas
The doughnuts market in the Americas is expected to witness a moderate growth rate during the forecast period owing to improved living standards and the rise in the number of middle-class families in the region.
Most consumers in the region, lead hectic lifestyles and are consequently left with less time for at-home meal preparation. Therefore, they prefer to head out to the local doughnut bakery to have their breakfast. Many people also prefer doughnut along with coffee for breakfast in the region, mainly in the US, and hence many specialty coffee shops offer doughnuts as a part of their menus.
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Doughnuts market in APAC
The doughnuts market in APAC is expected to witness a steady growth rate during the forecast period, mostly due to the rising per capita income and increasing population. Major global vendors like Dunkin' Donuts and Krispy Kreme Doughnuts are primarily targeting this region for expanding their respective market shares by opening new stores and offering new donut flavors. The growth is also driven by local chains rather than only international brands in the region. For instance, in India, Mad Over Donuts and in Australia, local vendors like Donut King and Grumpy Donuts are popular brands. This region offers significant opportunities for the players, with China and India being the most populous countries and contributing to the increasing demand.
Doughnuts market in EMEA
The doughnuts market in EMEA is expected to witness a steady growth rate during the forecast period. In Europe, specialty retail outlets and bakeries are the primary distribution channels for doughnuts. The major markets in Europe are the UK, Germany, France, and Italy. However, major growth will stem from the Middle East, where significant investments have been made over the past decade to develop tourism and infrastructure. In the Middle East and Africa (MEA), the changing eating habits and a large young population base are some of the factors that will likely help increase the consumption of doughnuts.
“MEA is expected to offer attractive growth opportunities to players, owing to the rise in tourism and increasing number of foodservice chains in countries like Saudi Arabia and the UAE. Also, a large untapped market exists in the semi-urban and rural areas of Africa. The emergence of modern retail chains has been contributing to the growth of the market in the region,” says Manjunath.
The top vendors in the global doughnuts market as highlighted in this market research analysis are:
- Daylight Donut Flour Company
- Dunkin' Brands Group
- Krispy Kreme Doughnuts
- Mister Donut
- Restaurant Brands International
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