Rockville, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the latest published research report by Fact.MR, a provider of market research and competitive intelligence, the expected valuation of the instant noodles market is US$ 35 billion for 2032-end with the market expanding at a CAGR of 4% from 2022 to 2032.
Instant noodles are generally sold in dried and precooked noodle blocks with seasoning oil and flavoring powder. These noodles are made with starch, palm oil, water, salt, flour, and some other flavor enhancers. There are various brands in the global market that are selling instant noodles in supermarkets and brick-and-mortar stores. Consumers can cook these precooked or dried blocks of noodles in boiling water. In addition, these noodles can also be reheated for later consumption. People consider these as one of the popular convenience food that is consumed around the world. The rising consumption of instant noodles is owing to their easy preparation and inexpensive nature.
Several micronutrients that include vitamin B, manganese, and iron are contained in these noodles. Omachi, Myojo Ramen, Mama Creamy Tom Yum, Shin Ramyun Black, and Prima Laksa Lamian are some popular brands that provide high-end instant noodles.
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Changing food habits and increased demand for convenience food are some noteworthy factors that are likely to increase the demand for instant noodles. In addition, the rising consumption of ready-to-eat food products in emerging countries is also expected to propel the sales of instant noodles. However, excessive use of flavorings, preservatives, artificial colors, and intensive processing to increase shelf life is predicted to restrict the consumption of instant noodles over the coming years.
Key Takeaways from Market Study
- Worldwide sales of instant noodles are likely to increase at a CAGR of 4% through 2032.
- The global instant noodles market is estimated to reach US$ 35 billion by 2032.
- The market in Asia Pacific reached a value of US$ 45 billion at the end of 2021.
“Increasing adoption of convenient food products and growing population of middle-class people that stimulate demand for instant food products are likely to bolster the sales of instant noodles,” says a Fact.MR analyst
Segmentation of Instant Noodles Industry Research
- By Product :
- Chicken
- Vegetables
- Seafood
- Others
- By Raw Material :
- Oats
- Rice
- Wheat
- Others
- By Packaging :
- Bags
- Cups
- By Distribution Channel :
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Increasing Demand for Instant noodles in Canada Due to Hectic Lifestyles
North America represents constant growth in the market for instant noodles owing to changing lifestyles and rising demand for these products by low-income consumers. Canada is likely to progress at a CAGR of 3.9% through 2032.
In addition, the increasing demand for easy-to-prepare eatables due to hectic lifestyles along with the high affordability of these instant food items are likely to boost their sales in the regional market.
Winning Strategy
Companies manufacturing instant noodles are launching products that are likely to ease the adoption of these instant noodles while making them a more convenient option for snacking. Further, the market players are experiencing cut-throat competition due to the presence of many snack food industry rivals. The companies are also concentrating on customers’ preferences across the local market and further developing a wide range of products to match consumer requirements.
For instance,
- CG Foods, a manufacturing company that is based in Nepal, in September 2020 invested around US$ 16.93 million to expand its production capacity in India. The production plants of the company are functioning in Ajmer, Guwahati, and Andhra Pradesh.
Key Companies Profiled
- Ajinomoto Co., Inc.
- Nestle India Limited
- Sco-Fro Foods Ltd.
- Toyo Suisan Kaisha Ltd.
- Nissin Food Holdings
- The Campbell Soup Company
- Capital Foods Pvt. Ltd.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global instant noodles market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights into the market on the basis of product type (chicken, vegetables, seafood, others), raw material (oats, rice, wheat, others), packaging (bags, cups), and distribution channel (supermarkets/hypermarkets, convenience stores, specialty stores, online retail), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
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Organic Chicken Market: The global organic chicken Market is expected to grow at a CAGR of 14.5% in terms of value between 2021 and 2031. Furthermore, the report predicts that the consumption of organic chicken will reach US$ 11.1 Bn by the end of 2031. As of 2021, the market is likely to be valued at US$ 2.8 Bn.
Low Fat Chicken Soup Market: Shifting consumer’s preference towards animals’ base stock as a high protein source will boost the low fat chicken soup market. Increasing awareness regarding personal fitness among adults and young will boost the low fat chicken soup market.
Vegan Noodles Market: Vegan noodles are derived from ingredients that are not derived from animals. In order to reduce the level of cruelty endured by animals, the global population is moving towards veganism. Vegan noodles are a substitute for conventional noodles, which are made specifically for consumption by vegetarian population that do not consume any kind of animal-based or dairy-based products.
Kelp Noodles Market: Ever rising demand for functional foods has made manufacturers in the food & beverages industry emphasize developing food items from multiple edible ingredients. Kelp noodles are one such ingredient that has gained immense popularity in the East Asian region. Besides its popularity in Asia, kelp noodles have also been observed to make inroads in other parts of the world.
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