Instant Noodles- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Instant Noodles- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Instant Noodles market is projected to register a CAGR of 4.41% during the forecast period, 2022-2027.

Instant Noodle Market is highly influenced by changing lifestyles, increasing consumers' household expenditure, and changes in dietary habits. Due to the hectic working schedule, consumers prefer quick meals and ready-to-eat food that requires minimum time to cook, such as instant noodles. Therefore, instant noodles have become widely popular among consumers as it offers a longer shelf-life and is easily available in the market.

Furthermore, some existing players in instant noodles are launching new local flavors, such as spicy noodles, and customized flavor variants that suit consumers' taste preferences. For example, in 2021 Nissin foods launched a pumpkin spice flavor made of sauce with a special pumpkin seasoning that blends sweet, savory, and spiced all in one through their brand cup noodle.

Key Market TrendsConsumers Inclination Towards Convenience Food

The increasing working population, rising incomes and purchasing power, higher brand consciousness, changing consumer preferences, and an increase in the number of middle-class population are some of the key factors in the growth of instant noodles. Moreover, the instant noodle market is expanding due to time constraints, a fast-paced lifestyle, and a shift in culinary tastes. With tasty and healthful meal alternatives, instant noodles provide convenience to the consumer's hectic lifestyle.

Furthermore, the manufacturers consistently innovate and offer value products in an effort to build their brand and attract a sizable customer base. To adapt to shifting consumer preferences across the globe, enterprises are developing a wide range of flavors in addition to the traditional beef, egg, seafood, curry, and chicken flavors, including Thai, Japanese, Korean, and Fangbian Mian noodle cuisines.

Asia-Pacific Holds the Largest Share

There’s a strong demand for instant noodles in Asia-Pacific (APAC) region due to the strong presence of numerous local and global brands. As preferences for eating instant noodles among urban consumers, nations like India, Malaysia, Indonesia, and China play a vital role in accelerating market expansion. Among ten of the 15 nations that consume the most instant noodles are Asian nations. Since its start, the market under study has achieved significant success because of the introduction of specialized flavor varieties that cater to regional taste preferences by numerous local and multinational producers, including Nestle SA, Nissin Foods Holdings, and Campbell Soup Company among others.

Competitive Landscape

The market is highly fragmented and competitive due to strong presence of global and regional companies such as Nestle SA, The Campbell Soup, Nissin Foods Holdings Co. Ltd, Ajinomoto Co. Inc. among others. The leading players focus on increasing their product offerings, thus producing a more comprehensive range of instant noodles. Additionally, these companies are increasing their investments in research and development (R&D) to develop products that are in line with customer needs.

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• The market estimate (ME) sheet in Excel format
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