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. 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.
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To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.ĪPAC 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.
Consequently, these factors are poised to contribute significantly to the growth of the food service segment within the doughnut market throughout the forecast period. This approach empowers vendors to regularly introduce fresh doughnut offerings to the market. 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. 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. 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. Among these, the franchised specialty outlets notably drive the majority of sales in this market segment. 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. Therefore, such factors are expected to drive the growth of the market during the forecast period. Several major doughnut retailers are actively offering franchise opportunities, particularly in markets like India and China. The heightened frequency of travel to well-visited destinations, both by road and air, has bolstered the consumption of coffee and doughnuts among consumers. 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 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. 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. Technavio has announced its latest market research report titled Global Doughnuts Market 2023-2027
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