Instant Noodles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Instant Noodles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Instant Noodles Market size is estimated at USD 48.69 billion in 2024, and is expected to reach USD 61.20 billion by 2029, growing at a CAGR of 4.68% during the forecast period (2024-2029).

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.

Instant Noodles Market Trends

Exotic Flavor Combined with Nutritional Value

• Manufacturers consistently innovate and offer value products to build their brand and attract a sizable customer base. To adapt to shifting consumer preferences globally, 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.
• For instance, in 2022, Nestle Malaysia launched two new flavors of Maggi noodles- Maggi spicy prawn noodles and Tom Yam Kaw noodles in the form of paste instead of powder to offer an intense taste.
• During the forecast period, the global instant noodles market is expected to grow significantly. Instant noodles are renowned for their ability to satiate hunger due to their diverse range of ingredients, which often include dehydrated vegetables and animal-based proteins. This makes them a popular meal substitute in certain regions.
• Furthermore, the variety of flavors available in instant noodles is expected to drive market growth in the coming years. Extensive marketing activity by manufacturers using novel strategies and innovative advertisements is also helping to market expansion.

Asia-Pacific Holds the Largest Share

• Asia-Pacific region holds a large share of the instant noodles market owing to the rapid urbanization, large population size, and rising demand for convenience foods in this particular region. There's a strong demand for instant noodles in the Asia-Pacific region due to the strong presence of numerous local and global brands.
• Urban consumers' inclination towards instant noodles has been pivotal in driving market expansion, particularly in nations such as India, Malaysia, Indonesia, and China. Asian nations dominate the list of the top consumers of instant noodles, with ten out of the fifteen nations being from Asia.
• The market under study has experienced considerable success from its inception, largely attributed to the introduction of specialized flavor varieties that cater to regional taste preferences. Numerous local and multinational producers, including Nestle SA, Nissin Foods Holdings, Campbell Soup Company, and others, have contributed to this success by offering a wide range of flavors to suit diverse consumer preferences.
• The consumption of instant noodles in China has increased due to increasing investment and product innovation by the major player in the country. Constant growing population, dynamic youth group, and an increasing number of working women are some of the key factors that are expected to support the market growth during the forecasted period.

Instant Noodles Industry Overview

The market is highly fragmented and competitive due to the strong presence of global and regional companies such as Nestle SA, The Campbell Soup, Nissin Foods Holdings Co. Ltd, and 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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support