Global Instant Noodles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Instant Noodles Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Instant noodles originated in Japan in the 1950s, and today are produced in over 90 countries worldwide. It has become one of the internationally recognized food products that are consumed across several developing as well as developed countries. Instant noodles are precooked dried noodles that are dehydrated using one of the two processes, namely flash or air frying. Instant noodles are often produced for instant consumption with simple means of preparedness such as hot water, microwaving, or cooking for minimal amounts of time. Instant noodles are made up of fine wheat flour along with a mixture of alkaline salts. Various additional ingredients are also added to the dough in smaller quantities such as starch, edible oil, gluten, and stabilizers like guar gum. They are generally accompanied by a small sachet comprising of the tastemaker. Instant noodles have gained popularity worldwide as they are portable, quick to make, and easy to store.

Market Overview:

The latest research study on the global Instant Noodles market finds that the global Instant Noodles market reached a value of USD 22967.73 million in 2022. It’s expected that the market will achieve USD 28954.77 million by 2028, exhibiting a CAGR of 3.94% during the forecast period.

Opportunities and Drivers

In recent years, retail stores of all sizes have sprung up everywhere, and almost every retail store sell instant noodles, the increase in supply has made instant noodles more accessible to consumers. The rapid emergence of mass merchandisers in the developing markets such as India, China, and other economies enables the higher sales momentum of instant noodles worldwide. These giant retailers have expertized in offering several facilities such as separate product shelves, product informative boards, and others, which offer a good shopping experience to the consumers under a single roof. The retail players have also adopted bundling strategies to drive the sales of larger units of instant noodles. Such strategies have yielded promising results in the region.

Additionally, the growing popularity of e-commerce is expected to assist in enhancing the demand for instant noodles that is expected to propel the market in the coming period. With the growing number of tech-savvy people and their inclination toward online shopping, e-commerce platforms have been gaining popularity with respect to distribution. Apart from the emergence of third party online distributors, this trend has also introduced e-retailers offering quality products to reach out to the large customer base. Growth of e-commerce has also impacted the growth of the market in a positive manner. Discounts offered by online channels helps in retaining consumers, which could increase growth of the market. E-commerce allows instant noodles startups to purchase products directly from manufacturers and sell directly to consumers, which reduces transportation charges and allows for a significant reduction in the price of goods. instant noodles products are available online at huge discounts which help to retain the consumers in the market. Additionally, this has allowed manufacturers to sell quality products at lower prices than in stores due to the direct-to-consumer model. Growing importance of brand loyalty, brand transparency, ethical supply chain, since startups in the market are differentiating their product through their services and are able to establish their market among the consumers. This market trend is also expected to drive the instant noodles market over the forecast period.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

The top three companies are Master Kong, Nissin Foods, Maruchan (Toyo Suisan) with the revenue market share of 18.65%, 13.64%, 8.86% in 2021.

Master Kong manufactures and sells instant noodles and pastries. Master Kong specializes in the production and sale of instant noodles, beverages and convenience foods. Since 1992, the company has been producing instant noodles. Since 1996, it has expanded its business to convenience food and beverages. Master Kong has always regarded consumer food safety as its own duty and aimed to build a virtuous circle of quality and safety management. It all stems from master Kong's active response to the concept of quality control from the farm to the table.

Nissin Foods produces and supplies instant noodles. The Company manufactures dry macaroni, spaghetti, vermicelli, and ancillary products. In 1958, Nissin Foods’s founder created the world’s first instant noodles. In 1970, Nissin Foods puts down roots in the U.S. And ever since, Nissin Foods USA has been creating jobs, launching careers and sharing the joy of noodles with the world.

Segmentation Overview:

Among different product types, Beef segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Individuals segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Instant Noodles market covered in Chapter 3:

Jinmailang
Master Kong
Baixiang
Uni-President
Sanyo Foods
Masan Group Corporation
Acecook Vietnam
TF
Monde Nissin
Nissin Foods
Indofood
Nongshim
Nestle
Maruchan (Toyo Suisan)

In Chapter 4 and Chapter 14.2, on the basis of types, the Instant Noodles market from 2018 to 2029 is primarily split into:

Chicken
Beef
Seafood
Vegetable
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Instant Noodles market from 2018 to 2029 covers:

Individuals
Restaurants

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)