23-Jun-2021 | Facts and Factors
As per a recently issued market research report by Facts & Factors, the global instant noodles market size & share was about USD 45.67 Billion in 2020, with sales value projected to hit around USD 73.55 Billion by the end of 2026 and expected to register an excellent 6% CAGR during 2021 to 2026.
Instant noodles or ramen are a form of noodles that are often produced for instant consumption with simple means of preparedness such as hot water, microwaving, or cooking for minimal amounts of time. The main ingredients in the noodles are wheat flour, palm oil, and salt while the other common ingredients include salt, monosodium glutamate, seasoning, and salt. The driving factors for the aggressive growth of the instant noodles market are rising COVID-19 cases, increased lockdown measures, the inclination of consumers for home-cook meals, and storing of longer durable food products. Additionally, factors pertaining to convenience, taste, nutrition, and affordable price related to instant noodles will further boost the growth of the market to a larger extent.
The increasing trend of convenience food coupled with hectic work schedules for a majority of the working population will add fuel to the fire for the growth of the global instant noodles market. Integration of organic supplements coupled with added functionalities such as longer shelf life, and a wider selection of products will further open new market revenue opportunities for the global instant noodles market. Increased dependencies from the middle class on home cook meals will further boost the sales of the global instant noodles market.
Top Market Players
The key participants of the 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.
Here are some noteworthy developments for the global instant noodles market during the forecast:
- Nissin Food Co. recently made the switch to deliver a product line within higher nutritional values and lower calorie count in order to cater to a wider range of consumers targeting to improve immunity systems.
- Indofood Sukses Makmur Tbk recently launched a new flavor in their instant noodles flavor called Indomie HypeAbis Ayam Gepre that is expected to expand the company’s portfolio to a new range of consumers.
The global instant noodles market can be divided into chicken, vegetables, seafood, and others on the basis of type. The chicken segment is expected to occupy the largest market share during the forecast and dominate the segment owing to increasing consumer preference for nutritional elements and affordable prices. Furthermore, increased protein and carbohydrate sources will increase the market share for the segment during the forecast.
The global instant noodles market can be fragmented into supermarkets/hypermarkets, convenience stores, online retail, and others on the basis of distribution channels. The supermarket/hypermarkets segment is expected to witness the largest market share during the forecast owing to the rising number and increased investments. Furthermore, factors such as dedicated shelves and informative boards will further increase the market share during the forecast.
Asia-Pacific Is Expected To Witness The Largest Market Share During The Forecast Period
Asia-Pacific is expected to occupy the largest market share during the advent of the forecast in terms of global revenue contribution. Factors that are responsible for the dominant market share in the global perspective can be attributed to densely populated regions and rising disposable incomes. Additional factors such as the hectic lifestyle of the working population, overall improvement of well-being, and rising willingness to spend on additional beverages and consumables.
Browse in the full report “Instant Noodles Market By Type (Chicken, Vegetables, Sea Food, & Others), By Modality (Fried & Non-Fried), By Ingredient (Oats, Rice, Wheat, & Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/instant-noodles-market
The global instant noodles market can be segmented into:
Global Instant Noodles Market: By Type Segment Analysis
- Sea Food
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
- Convenience Stores
- Online Retail
Global Instant Noodles Market: By Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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