[183+ Pages Report] We at Facts & Factors have recently added the market study titled “Instant Noodles Market” to our pool of market studies that focus solely on an analytical approach. We estimate that the global Instant Noodles Market will be valued at USD 45.67 Billion in the year 2020 and will grow to an anticipated value of USD 73.55 Billion in the year 2026 with a CAGR growth of 6% during the forecast period 2021-2026.
Global Instant Noodles Market: Overview
Instant noodles or instant ramen are a variety of noodles that are sold pre-cooked in a dried block format with an added preservative/flavoring powder or oil for seasoning. The flavoring is usually in a separate packet for standard instant noodles however, in the case of cup noodles the flavoring is already added to the batch. Some forms of instant noodles come in a seal packed structure while some can be cooked in an oven or some can even be eaten straight from the container by simply adding hot water. The main ingredient that goes behind producing instant noodles are wheat flour, palm oil, and salt while common ingredients contain salt, monosodium glutamate, seasoning, and salt.
Global Instant Noodles Market: Growth Factors
The driving factors for the global instant noodle market are the outbreak of COVID-19 leading to lockdown measures by government across the globe and majority of consumers switching to home-cooked meals and stocking of food items for longer duration of time. Additionally, instant noodles offer a wider range of benefits such as convenience, taste, nutrition, and affordable price. These factors are expected to propel the growth of the global instant noodles market to a larger market share during the forecast. Increasing consumer awareness about a healthier dose of noodles and fortified and durable consumables and beverages will further increase the appeal of instant noodles for a wider consumer base. Rising trend of convenience food coupled with hectic work schedule of the working population is expected to open new revenue opportunities for the global instant noodle market.
Manufacturers are looking to bank in the opportunity of the latter by integrating a range of functionalities such as instant appetizing solution, longer shelf life, and a wider selection of products in order to capture a larger consumer base. Rising middle class population has shown an increased dependence on quickly made meals within optimal prices will further boost the growth of the global instant noodles market. Additionally, manufacturers using organic and fresh produce during production will attract a wider range of consumers during the forecast. However, increased consumption can cause metabolic syndrome and other health disorders such as diabetes, hypertension and other due to chemical correspondents which can decrease the growth of the market to a certain extent.
Global Instant Noodles Market: Segmentation
The global instant noodles market can be segmented into type, modality, ingredient, distribution channel, and region.
On the basis of type, the global noodles market can be divided into chicken, vegetables, seafood, and others. The chicken category is expected to witness the largest market share owing to a wider range of taste offerings and affordability factor. Furthermore, the inclination of consumers toward a healthier form of consumables coupled with chicken and greater source of protein, carbohydrates, and others are likely to cement the dominance of this category during the forecast period. On the basis of modality, the global instant noodles market can be fragmented into fried and non-fried. Fried instant noodles are expected to occupy the largest market share during the forecast owing to the flash-fried production method of the noodles, longer shelf life, and resistive bacterial growth. On the basis of ingredients, the global instant noodles market can be disintegrated into oats, rice, wheat, and others. The segment of wheat is expected to witness the largest market share during the advent of the forecast owing to abundant availability and fortified digestive properties coupled with rich supplements such as iron, calcium, and others. On the basis of distribution channels, the global instant noodles market can be broken down into supermarkets/hypermarkets, convenience stores, online retail, and others. Supermarkets/hypermarkets are expected to occupy the largest market share during the advent of the forecast owing to rapid emergence and increased investments. Furthermore, integral components such as product shelves, informative boards, and others provide a greater shopping experience for shoppers which in turn drive the volumetric sales for the segment.
Global Instant Noodles Market: Regional Analysis
Asia-Pacific is expected to witness the largest market share during the advent of the forecast owing to global revenue contribution. Factors pertaining to the dominant position of the market can be credited to rising disposable incomes and densely populous countries to name a few. Furthermore, rising consumer awareness increased willingness to spend on food products to decrease time in their hectic lifestyles, and improve overall well-being will further lead to the extensive growth of the global instant noodles market during the forecast period. Europe is expected to witness the next subsequent market share during the forecast owing to rise of snack-based consumable in the form of instant noodles, availability of ethnic flavors, and increased nutritional values.
Global Instant Noodles Market: Competitive Players
The key participants in the global instant noodles market are Nissin Food Holdings, Nestle S.A., ITC Limited, Capital Food Pvt Ltd., Ajinomoto Co, Inc., Acecook Vietnam Joint Stock Company, Indofood Sukses Makmur Tbh, Aico Food Ltd., Samyang Corporation, Unilever PLC, Nongshim Co Ltd., and Hebei Hualong Food Group and Master Kong, among others.
Global Instant Noodles Market: By Type Segment Analysis
Global Instant Noodles Market: By Modality Segment Analysis
Global Instant Noodles Market: By Ingredient Segment Analysis
Global Instant Noodles Market: By Distribution Channel Segment Analysis
Global Instant Noodles Market: By Regional Segment Analysis
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