New York, USA, May 31, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Instant Noodles Market Information By Product Type, Packet Size, Distribution Channel, And Region - Forecast till 2030", the market will achieve USD 116.79 Billion by 2030 at a 5.17% CAGR.
Market Synopsis:
Over 90 nations manufacture instant noodles, first produced in Japan in the 1950s. It has become among the most popular food items globally in developed and developing nations. Alkaline salts and fine wheat flour are used to make instant noodles. The dough is also supplemented with several other ingredients in smaller amounts, including cellulose and stabilizers like guar gum. Instant noodles are dried noodles that have either been air-fried or flash-fried to dehydrate them. The tastemaker typically serves them with a tiny sachet. Because they are portable, simple to prepare, and easy to store, instant noodles have become increasingly popular. Consumers can enjoy the convenience of quickly noodle preparing foods and consumption without any previous planning thanks to instant noodles, also known as instant ramen. In Asia-Pacific, instant noodles are the most popular but are also widely consumed elsewhere.
Instant noodles are pre-cooked noodles with a wide range of tastes and fillings and nutritious ingredients like wheat flour, dehydrated vegetables, meat, pork, and beef. Convenience, flavor, nutrition, and a reasonable price boost its popularity with consumers. Instant noodles are available in a variety of flavors and both vegetarian and non-vegetarian varieties. Additionally, to broaden their customer base, the manufacturers continuously develop new flavors, shades, textures, and seasonings/tastemakers that reflect regional tastes and preferences. Instant meals are simple, ready-to-eat foods. Instant noodles were invented in Japan and, regardless of the brand, typically feature dry noodle blocks with various flavored herbs and spices, sauces, or combos of both.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 1,16,792.66 Million |
| CAGR | 5.17% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Packet Size, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Instant Noodles Are Becoming Increasingly Popular Rise In Per Capita Income and Disposable Income |
| Demand For New Flavors |
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Market Competitive Landscape:
The important companies in the instant noodles market are:
- ITC Ltd. (India)
- Unilever (United Kingdom)
- Campbell Soup (United States)
- Indofood (Indonesia)
- Nissin Food (Japan)
- Nestle (Switzerland)
- Ajinomoto (Japan)
- Capital Food (India)
- Tat Hui Foods (Singapore)
- Acecookvietnam (Vietnam)
Market U.S.P. Covered:
Market Drivers:
The need for ready-to-eat food products immediately put together and eaten without interfering with peoples' daily routines is driven by their busy work schedules. As a result, consumers are increasingly embracing convenient food items because they provide several advantages in the global market. Additionally, fortified instant noodles are anticipated to draw the population who are health conscious, which will benefit market expansion. Throughout the forecast period, the market for instant noodles is anticipated to grow significantly.
Because instant noodles are typically excellent at filling the stomach because they contain various ingredients, such as dehydrated veggies and animal-based proteins, which they sometimes substitute for meals in some areas, the growing middle class is driving these noodle producers to create reasonably priced food items while providing various flavors to meet consumer demand. One of the main platforms where the sale of fake brands can be easily hidden in the online distribution channel. During the forecast period, this is anticipated to accelerate the growth of the global market for instant noodles.
Market Restraints:
Although the product has a good taste and is convenient, little nutritional value is offered to the consumer. For the obese population, its high fat and carbohydrate content serves as a restraint. However, the increase in the market for fake and counterfeit goods has coincided with the rise in instant noodle product consumption. Furthermore, counterfeiting refers to false branding and the sale of unapproved products, representing a significant challenge for legitimate suppliers of instant noodles.
COVID 19 Analysis:
The COVID-19 outbreak, and the ensuing government-imposed measures have forced a strict market closure to enact social alienation. Consumers chose home-cooked food and kept a stockpile of necessary foods, particularly instant foods, at home in large quantities. A clear preference for meals prepared at home is anticipated even after the pandemic. The product gets a significant and positive response from customers because of its high price and availability in many supermarkets and hypermarkets.
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Market Segmentation:
By packet size, the market includes single, four, and six packs. By distribution channel, the market includes store-based and non-store based. By product type, the market includes cups/bowls and packets.
Regional Insights:
Due to the presence of nations like India, China, Australia, New Zealand, and others, the demand for instant noodles in the Asia-Pacific region provides lucrative prospects for the operating players. The growing adoption of the western lifestyle, population growth, and consumer disposable income primarily drives market trends for instant noodles. The market has evolved due to the players creating a new category of healthier noodles as Indian consumers have become more health conscious. The players now have the chance to capitalize on the innovative aspect of creating instant noodles with practical advantages. Companies are also developing new tastes and flavors in addition to the standard ones.
In addition, businesses are developing new flavors and tastes in addition to the standard ones, such as Chinese and a mix of masalas. The need for instant noodles among children will rise as a result. Consumers are focusing on foods that can manage their health effectively and taste good, and chicken is proving to be a better choice because it is an excellent source of carbohydrates, protein, and other nutrients. Due to the rising demand for nutrient-dense foods, frequently lower prices, and accessibility of raw materials, seafood is predicted to have the fastest growth rate in the global market. Current natural and vegan market trends will likely increase demand for instant vegetable noodles worldwide, especially in Europe.
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