Instant Noodles Market Information By Product Type (Cup/Bowl, Packet) Pack Size (Single Pack, Four Pack, Six Pack, Others), Distribution Channel (Store-Based, Non-Store-Based) - Forecast 2027

ID: VPR/F&B/1068 Publishing Year: January 2022 Pages: 118 Format:   


Instant Noodles Market Overview:

People's hectic work schedules are increasing demand for ready-to-eat food products that are easy to prepare and consume without interfering with their daily routine. As a result, consumers have flocked to convenient food products since they provide a variety of benefits in the global economy. Because of the growing middle-class population, these Noodles Makers are compelled to produce affordable food products in a variety of flavours to meet consumer demand. During the projected period, this is expected to support the Global Instant Noodles Market's Growth. The Global Instant Noodles Market study offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market variables.

Key Players:

  • Unilever PLC (U.K.),
  • NestlĂ© S.A. (Switzerland),
  • Campbell Soup Company (U.S.),
  • Ajinomoto Co., Inc. (Japan),
  • Nissin Foods Co., Ltd (Hong Kong),
  • ITC Limited (India),
  • Capital Foods Limited (India),
  • TatHui Foods Pte. Ltd. (Singapore),
  • Acecook Vietnam Joint Stock Company (Vietnam)
  • PT Indofood SuksesMakmurTbk (Indonesia)

Market Drivers:

In India, the use of packaged food goods such as Instant Noodles is being driven by a growing millennial population and an increase in working-class clients. Additionally, the companies have recently launched a number of new goods that stand out in terms of innovative flavours, healthy components, and packaging. Consumption of Instant Noodles has increased significantly in India over the last several years as a result of these causes.

Challenges:

The middle and lower middle classes account for a considerable portion of the population. As a result, price sensitivity has a huge impact on the Instant Noodles Industry's Growth across the country. Unless they see them in their local store, most individuals in rural areas are ignorant of the numerous brands available. As a result, the lack of a well-established distribution network poses a barrier to the Indian Instant Noodles Business.

Market Segmentation:

The main segment is packet Instant Noodles, which is expected to increase at a significant CAGR to reach USD 21,440.7 million by 2023. Due to the convenience and benefit of on-the-go eating, the cup/bowl sector is expected to grow at the fastest rate of 3 percent throughout the projection period.

Regional Analysis:

On a geographical level, China dominates the Worldwide Instant Noodles Business. Because noodles are such an important part of Chinese cuisine, there is a significant demand for Instant Noodles in the region. Indonesia, Japan, India, Vietnam, the United States, the Republic of Korea, Thailand, and Saudi Arabia follow China.

Covid-19 Impact:

Retailers ran out of goods as a result of the stockpiling pattern, which was a direct outcome of the COVID-19-induced lockdowns. The demand for the items had increased, and it took the major market participants some time to close the demand-supply gap. The global demand for instant noodles is expected to rise; however, difficulties like as logistics, supply chain disruptions, limited access to raw materials, and a lack of workforce are expected to stifle the market's growth. Furthermore, limits on cross-border commodity transportation place a heavy reliance on local raw material merchants, giving suppliers more bargaining power. The restricted availability of raw materials and the manufacturers' low production capacity are expected to cause a significant demand and supply gap, resulting in higher retail prices for the product in the coming months. The APAC area has been identified as the largest user of the staple instant noodle diet, with regional producers emerging as outperformers in an otherwise sluggish earnings season. Instant Noodles gained fresh appeal over the past year as more people stayed at home due to lockdowns and social-distancing laws.

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