Asia-Pacific Instant Food Market Outlook, 2028

Asia-Pacific Instant Food Market Outlook, 2028

In Asia Pacific Instant food is known for its diverse and bold flavours. From spicy and tangy to savory and sweet, there is a wide range of flavor profiles represented in instant food products. Each country and region within Asia Pacific has its own distinct culinary traditions, and these flavours are often reflected in the instant food offerings. Furthermore, Instant food in Asia and the Pacific is designed for quick and easy preparation. Many instant food products require minimal cooking or preparation time, making them convenient for individuals with busy lifestyles. Instant noodles, for instance, can be cooked in just a few minutes by adding hot water. Ready-to-eat meals often come in microwaveable containers, allowing for fast heating and consumption. Moreover, Instant food is often affordable and accessible to a wide range of consumers in the Asia-Pacific region. Instant noodles, in particular, are known for their low cost, making them a popular choice for students, office workers, and people on a budget. Street food snacks, such as dumplings or satay skewers, are also relatively inexpensive and readily available from street vendors. In addition, Convenience stores and vending machines are prevalent throughout Asia and the Pacific, and they play a significant role in the availability and accessibility of instant food. These outlets stock a wide range of instant food products, including instant noodles, ready-to-eat meals, snacks, and beverages, making it convenient for people to grab a quick meal or snack on the go.

According to the research report, “Asia-Pacific Instant Food Market Outlook, 2028” published by Bonafide Research, the market is expected to grow with 8.10% CAGR by 2023-28. Asia-Pacific is known for its vibrant street food culture, and instant food plays a significant role in this. Street food stalls and vendors often offer a variety of quick and convenient instant snacks, such as fried noodles, takoyaki, tempura, or skewered meats. Instant street food provides a delicious and affordable option for exploring the local culinary scene. Furthermore, with the growing middle-class population and increasing disposable income in many countries across Asia and the Pacific, consumers have more purchasing power. This allows them to afford and indulge in convenience foods, including instant food products. Moreover, the influence of Western culture and the rise of urbanisation have contributed to the popularity of instant food in Asia and the Pacific. Western-style fast food and convenience foods have gained traction, leading to the adoption of instant food as a quick and familiar meal option. In addition, The Asia-Pacific region attracts a significant number of tourists from around the world. Instant food products, particularly those with local flavours and unique packaging, offer tourists an opportunity to try and experience the local cuisine conveniently. With the increasing popularity of plant-based and vegan diets, the Asia-Pacific instant food market is seeing a rise in plant-based and vegan instant food options. Manufacturers are developing instant food products that are made from plant-based proteins, such as soy, tofu, or pea protein, to cater to the growing demand from vegetarian and vegan consumers.

China has the largest population in the world, which translates to a massive consumer base. The sheer size of the population creates significant market demand for instant food products. Furthermore, China has been experiencing rapid urbanisation, with millions of people moving from rural areas to cities. Urban dwellers often have busier lifestyles and limited time for meal preparation, making instant food a convenient and practical choice. Moreover, as China's middle class continues to grow, there is an increasing demand for convenience foods that cater to busy lifestyles. Instant food provides a quick and easy meal solution for urban consumers who may not have the time or culinary skills to cook from scratch. In addition, China has a robust presence of domestic instant food brands that have gained consumer trust and loyalty over the years. Brands like Master Kong, Uni-President, and Nongshim have established a strong market presence and enjoy widespread recognition among Chinese consumers. China has experienced significant growth in e-commerce platforms, making it easier for consumers to access and purchase instant food products online. The rise of online shopping platforms, such as Alibaba's Tmall and JD.com, has facilitated the availability and convenience of instant food options for consumers across the country.

Instant noodles and pasta have gained widespread popularity across the Asia-Pacific region. They are considered convenient, quick, and affordable meal options, making them highly sought-after by consumers, especially in countries like China, Japan, South Korea, and Southeast Asian nations. Furthermore, Instant noodles and pasta offer versatility in terms of flavours, textures, and cooking methods. Manufacturers provide a wide range of flavor options, including various soup bases, sauces, and seasonings. Consumers can also customize their instant noodles and pasta by adding ingredients such as vegetables, meat, or seafood, allowing for personalization and adaptation to regional tastes. In addition, there is a shift in consumer snacking habits in the Asia-Pacific region, with a growing preference for convenient, on-the-go snack options. Snacks provide quick and satisfying bites that can be consumed as standalone snacks or accompaniments to meals, catering to the fast-paced lifestyles of consumers. Moreover, the influence of Western snack culture has also contributed to the growth of the snack segment in Asia-Pacific. Western-style snacks, such as potato chips, popcorn, and chocolate bars, have gained popularity and are often incorporated into the snack offerings in the region.

Departmental stores and convenience stores are popular distribution channels for instant food products in Asia Pacific. These stores cater to consumers who seek quick and convenient purchases. They often have a selection of instant noodles, snacks, and beverages. Some well-known departmental and convenience store chains in the region include FamilyMart, 7-Eleven, Lawson, Ministop, Seven & i Holdings, and many more. In addition, the rise of e-commerce has significantly impacted the distribution of instant food products in the Asia-Pacific region. Online stores and platforms offer a convenient and accessible way for consumers to purchase instant food products. Notable online retailers and platforms selling instant food products in Asia Pacific include Lazada, Shopee, JD, Alibaba's Tmall, Amazon, Rakuten, Coupang, RedMart, and many more.

Start-ups
• Fudyz is an Indian start-up that offers a range of instant food products made from natural and locally sourced ingredients. They provide instant mixes for various traditional Indian dishes, such as dosa, idli, and upma, allowing consumers to prepare these dishes quickly at home.
• Future Acres is a Japanese start-up that focuses on developing plant-based meat alternatives. They have introduced instant meat substitute products that can be used in various dishes, providing a convenient and sustainable option for those seeking plant-based protein alternatives.

• Yumlish is an Australian start-up that offers a range of instant meal kits and ready-to-eat meals. They emphasize nutritious and wholesome ingredients, catering to different dietary requirements, including vegan, gluten-free, and dairy-free options.
• Kala Biotech is an Indian start-up specializing in plant-based protein products. They have developed instant meat substitutes made from ingredients such as soy, peas, and lentils, providing a sustainable and healthy alternative to traditional meat.
• Three Squirrels is a Chinese start-up that has gained popularity for its innovative and flavorful snack products. They offer a wide variety of instant snack options, including nuts, dried fruits, and savory snacks, catering to different tastes and preferences.

Major Companies present in the market:
The Kellogg Company, Nestlé S.A., General Mills, Inc., The Kraft Heinz Company, McCain Foods Limited, Hormel Foods Corporation, Calbee, Inc, Conagra Brands, Inc, Himalya International Ltd., Dr. Oetker , Ebro Foods, S.A., Barilla Group,JBS S.A

Considered in this report
• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Countries covered in the report:
• China
• Japan
• India
• Australia
• South Korea

Aspects covered in this report
• Asia pacific Instant Food market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Breakfast Cereal
• Instant Noodles & pasta
• Snacks
• instant ready Meal
• Desserts
• others

By Packaging
• Normal
• Frozen

By Distribution Channel
• Supermarket/Hypermarket
• Departmental/Convenience Store
• Online Store
• Others (Specialty Stores)

The approach of the report
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to ready to Instant Food industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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