Instant Noodles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Instant Noodles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Global Instant Noodles Market Outlook 2023-2028:

The global instant noodles market size reached US$ 52.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 71.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028. The rising need for ready-to-eat food items, the changing dietary patterns of the masses, and the shifting lifestyle preferences of individuals across the globe represent some of the key factors driving the market.

The Diverse Varieties of Instant Noodles Augmenting the Market Growth

Instant noodles are widely available in a variety of different flavors and are constantly being updated by brands to gain a competitive edge. Both vegetarian and non-vegetarian flavors are available, with a wide range of options for each that can be eaten without cooking, simply by adding seasonings or cooked with boiled water to create a noodle soup. Additionally, several leading players are also focusing on introducing diverse flavor of instant noodles that suit regional tastes and preferences, which is acting as another growth-inducing factor. In addition, many instant noodle manufacturers offer different types of packaging, from single-serve cups to multi-serving packs, which allows consumers to choose a product that suits their budget, lifestyle, and dietary needs is further impacting the market.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is moderately fragmented into numerous large players at the regional and international levels in the industry due to the growing demand for instant noodles among the masses. The volume of new entrants is low in the instant noodles market on account of the high capital investment and consumer loyalty towards specific brands.

What are Instant Noodles?

Instant noodles are a type of pre-cooked, flavored noodle blocks that has become increasingly popular among individuals, especially working professionals. They are usually produced from wheat flour, water, salt, and other additives such as palm oil, monosodium glutamate (MSG), and flavor enhancers and are high in carbohydrates, sodium, and fat. They are commercially available in a variety of shapes and flavors and can be cooked in just a few minutes, making them a quick and easy meal option. They are convenient and time-saving, as they can be cooked in minutes by simply adding boiling water or immersing them in hot water. They are often served with various sauces and toppings, such as soy sauce, chili paste, and fish sauce. They are found in almost any grocery store and are often cheaper than other meal options. Additionally, they are a great way to add flavor to otherwise bland dishes, including rice or vegetables.

COVID-19 Impact:

COVID-19 had a considerable impact on the instant noodles market, with an increase in the demand for popular convenience food. Instant noodles have become a staple food for consumers during the pandemic, due to their affordability, convenience, and long shelf-life. Furthermore, due to the restrictions on movement and the closure of restaurants, more individuals were cooking at home, and opting for instant noodles as an easy, budget-friendly meal option. This has encouraged leading companies to innovate and launch new product variants, such as microwaveable, ready-to-eat instant noodles. Companies also begun focusing more on developing healthier versions of instant noodles, with reduced salt and sugar content. However, the pandemic has also disrupted the supply chain for instant noodles, particularly in the early stages of the pandemic, which resulted in a shortage of supply of instant noodles as a result of the rising demand and temporary closure of the production facilities. In addition, growing concerns about the nutritional value and health effects of instant noodles have led some consumers to shift towards healthier and more natural food options, further impacting the market.

Instant Noodles Market Trends:

The escalating demand for convenience food majorly drives the global market. This can be supported by the hectic lifestyles of individuals and changing dietary patterns of the masses. Since instant noodles are a convenient and time-saving solution for busy consumers, making them a popular choice especially among working professionals, is propelling the market. Along with this, the numerous leading players are heavily investing in the launching of healthier version of instant noodles with low fat and calorie content, which is acting as another growth-inducing factor. In addition, several manufacturers are adopting strategies for increasing their production capacity to meet the rising demand for instant noodles, including investing in new manufacturing facilities and technologies, is significantly supporting the overall instant noodles market. In line with this, key players are leveraging digital platforms, such as social media, website optimization, and search engine marketing, to drive sales and gain a competitive edge, which is considered as a major driving factor. Furthermore, the development of new flavors, innovative packaging solutions, and textures is creating a positive market outlook. Some of the other factors driving the market include easy product availability via online and offline organized distributed channels, the advent of home delivery models and the rising adoption of aggressive marketing strategies.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global instant noodles market report, along with forecasts at the global and country level from 2023-2028. Our report has categorized the market based on type and distribution channel.

Type Insights:

Fried

Non-fried

The report has provided a detailed breakup and analysis of the instant noodles market based on the type. This includes fried and non-fried. According to the report, fried represented the largest segment due to convenience, affordability, and wide variety of taste. Along with this, taste is also important, as consumers have come to expect a delicious and satisfying flavor from instant noodle products, which is influencing the demand for the market segment. In addition, the advent of healthier version of instant noodles and the presence of essential vitamins and minerals, have also become a major market driver.

Distribution Channel Insights:

Supermarkets/Hypermarkets

Specialty Stores

Convenience Stores

Online Stores

Others

A detailed breakup and analysis of the instant noodles market based on the distribution channel have also been provided in the report. This includes supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. According to the report, supermarkets/hypermarkets accounted for the largest market due to the easy availability of a wide variety of brands, flavors, and sizes of instant noodles. These outlets attract large numbers of customers with their competitive pricing and convenience. Supermarkets/hypermarkets offer a wide variety of brands and flavors, allowing customers to choose from different types of noodles. The convenience of one-stop shopping encourages customers to purchase multiple packages at once, increasing the number of sales.

Regional Insights:

China

Indonesia

Japan

India

Vietnam

United States

Republic of Korea

Thailand

Saudi Arabia

Others

The report has also provided a comprehensive analysis of all the major regional markets, which include China, Indonesia, Japan, India, Vietnam, United States, Republic of Korea, Thailand, Saudi Arabia, and others. According to the report, China was the largest market for instant noodles. Some of the factors driving the China instant noodles market included the busy lifestyle led by the masses . Additionally, the convenient and affordable nature of instant noodles has made them popular among young consumers who are seeking a quick and easy meal. Furthermore, the emergence of new flavors and variations of instant noodles has offered more choices to consumers and has further boosted the sector's growth.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global instant noodles market. Some of the companies covered in the report include:

Master Kong (Shenyang) Instant Noodle Foodstuff Co., Ltd.

Hebei Hualong Food Group

Indofood Sukses Makmur

Nissin Food Products Co., Ltd.

Nestlé S.A.

Acecook Vietnam Joint Stock Company

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global instant noodles market in 2022?

2. What is the expected growth rate of the global instant noodles market during 2023-2028?

3. What are the key factors driving the global instant noodles market?

4. What has been the impact of COVID-19 on the global instant noodles market?

5. What is the breakup of the global instant noodles market based on the type?

6. What is the breakup of the global instant noodles market based on the distribution channel?

7. What are the key regions in the global instant noodles market?

8. Who are the key players/companies in the global instant noodles market?