Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Instant Noodles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global instant noodles market has seen substantial growth, reaching $52.7 billion in 2022. Projections suggest that the market will continue to expand, with an expected value of $71.1 billion by 2028, reflecting a compound annual growth rate (CAGR) of 4.9% during the period from 2023 to 2028.
Instant noodles, pre-cooked and flavored noodle blocks, have become a popular choice for individuals, particularly working professionals, due to their convenience, quick preparation time, and a variety of flavors. They are typically made from wheat flour, water, salt, and additives such as palm oil, MSG, and flavor enhancers.
Instant noodles come in various shapes and flavors and can be cooked within minutes, making them an easy meal option. These noodles are available in both vegetarian and non-vegetarian varieties, offering options for diverse consumer preferences. Leading brands frequently introduce new flavors to remain competitive, catering to regional tastes and preferences.
Moreover, various packaging options, from single-serve cups to multi-serving packs, allow consumers to select products that align with their budget, lifestyle, and dietary requirements, further boosting the market.
Key Market Trends and Drivers:
- Convenience Food Demand: The global instant noodles market is primarily driven by the rising demand for convenience food. Busy lifestyles and evolving dietary patterns have led consumers, especially working professionals, to choose quick and easy meal options, driving the market's growth.
- Healthier Variants: Market leaders are investing in the development of healthier instant noodles with reduced fat and calorie content. Health-conscious consumers are increasingly opting for these healthier options, contributing to market expansion.
- Production Capacity Expansion: Manufacturers are increasing their production capacities to meet the growing demand for instant noodles. Investments in new manufacturing facilities and technologies are helping meet consumer needs.
- Digital Marketing: Key players are leveraging digital platforms, such as social media, website optimization, and search engine marketing, to drive sales and gain a competitive edge in the market.
- Flavor Innovation: The introduction of new flavors, innovative packaging solutions, and textures is creating a positive outlook for the market, attracting consumers seeking variety and excitement in their meals.
- Online and Offline Availability: Easy availability of instant noodles through online and offline organized distribution channels, home delivery models, and aggressive marketing strategies are contributing to market growth.
Market Segmentation:
The global instant noodles market is segmented based on type and distribution channel.
Type Segmentation:
- Fried
- Non-fried
Distribution Channel Segmentation:
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
Regional Breakdown:
- China
- Indonesia
- Japan
- India
- Vietnam
- United States
- Republic of Korea
- Thailand
- Saudi Arabia
- Others
Competitive Landscape:
Key players in the global instant noodles market include Master Kong (Shenyang) Instant Noodle Foodstuff Co., Ltd, Hebei Hualong Food Group, Indofood Sukses Makmur, Nissin Food Products Co., Ltd., Nestle S.A., Acecook Vietnam Joint Stock Company, among others.
Key Questions Answered:
- What was the size of the global instant noodles market in 2022?
- What is the expected growth rate of the market from 2023 to 2028?
- How has COVID-19 impacted the market?
- What are the key drivers of market growth?
- What is the market breakdown by type?
- What is the market breakdown by distribution channel?
- Which regions are key to the global instant noodles market?
- Who are the major players in the market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $52.7 Billion |
| Forecasted Market Value (USD) by 2028 | $71.1 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/i5vfog
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