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instant noodles market

Instant Noodles Market Share, Size, Trends, Industry Analysis Report, By Product (Cup, Packet); By Distribution Channel; By Region; Segment Forecast, 2022-2030

  • Published Date: Nov 2022
  • Pages: 119
  • Format: PDF
  • Report ID: PM2760
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Summary

The global instant noodles market was valued at USD 52.16 billion in 2021 and is expected to grow at a CAGR of 5.91% during the forecast period.

Instant noodles are famous ready-to-eat food items originating from the deep-rooted culture of Asian cuisine. The dough is further supplemented with many additional components in smaller proportions, including starch, gluten, and stabilizers such as guar gum. Typically, a little sachet containing the tastemaker is placed behind them.

Instant Noodles Market Size
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In addition, these items are made with ingredients including wheat, salt, water, palm oil, starch, and other flavorings for noodles. In brick-and-mortar stores and supermarkets, there are many different brands of instant noodles easily available. They include a variety of minerals, such as manganese, vitamin B, and iron.

Because of their hectic lifestyles, consumers are looking for comfortable meals. Additionally, it is anticipated that in the upcoming years, the per capita disposable income of consumers will rise along with their demand for ready-to-cook foods that require little preparation time. Additionally, fortified instant noodles are anticipated to appeal to the health-conscious populace, which will benefit market growth.

The expansion of the organized food retail sector is anticipated to boost sales of instant noodles because there are more department stores, hypermarkets, supermarkets, and convenience stores popping up everywhere. During the predicted period, there will likely be a noticeable increase in the demand for instant noodles worldwide.

Instant noodles are often great in filling the stomach due to the quality of numerous ingredients, including dehydrated veggies and animal-based proteins, for which they are supplemented with meals in some places. Additionally, the wide variety of flavors available in instant noodles is anticipated to drive market demand in the upcoming years. Innovative marketing methods used in complete campaigns as well as producers' innovative advertising, are supporting the industry's expansion.

The COVID-19 epidemic has had a significant influence on the world market for instant noodles. With the pandemic on the rise, creating havoc among the population, and the uncertainty of withstanding lockdown, people tend to shop in larger quantities. As a result, shoppers have resorted to panic buying and have stocked up on long-lasting foods like instant ramen. For example, Toyo Suisan, a Japanese producer of instant ramen, claimed that the demand for instant noodles has increased and is now more than typical.

In addition to placing enormous pressure on supermarkets, hypermarkets, convenience stores, and food suppliers worldwide, consumer stockpiling hastened the shift to e-commerce. Groceries are the category that has contributed the least to the rapid expansion of online shopping over the past few years. The majority of all e-commerce orders in the current context, however, are in the grocery sector.

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Industry Dynamics

Growth Drivers
Particularly among customers leading busy and hectic lives, there is an increasing need for easy food products that are simple to prepare and consume. The increased demand for quick-to-prepare foods like instant noodles is fueled by increasing urbanization, a growing middle class, and an increase in working women. Instant ramen’s quick preparation time, microwave heating, and inventive packaging methods are some of the elements contributing to their rising appeal among the working-class population.

The eating habits of consumers have changed as a result of growing urbanization and rising disposable incomes. Due to their busy lifestyles, the working populace now favors quick, inexpensive meals like instant ramen that require little preparation. The demand for instant ramen has greatly benefited from this increase in their eating habits. To expand their consumer base and take into account regional tastes and preferences, producers also keep coming up with new flavors, colors, textures, and seasonings.

Report Segmentation

The market is primarily segmented based on product, distribution channel, and region.

By Product

By Distribution Channel

By Region

  • Cup
  • Packet
  • Supermarket/Hypermarket
  • Traditional Grocery Store
  • Online Retailing
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Packet segment is expected to witness fastest growth

Due to its increased importance in customers' lives, packet segment held a larger market share, in 2021. The growth of this market is primarily driven by the availability of instant package noodles in various pack sizes and the advantages of purchasing them depending on usage. Because cup/bowl quick noodles come in a variety of add-on flavors, demand has also grown recently. Due to its ease and advantages of on-the-go consumption, the cup/bowl sector is anticipated to see the quickest CAGR throughout the projection period.

Supermarket/Hypermarket accounted for a significant market share in 2021

Supermarkets and hypermarkets, the main channels for the distribution of instant noodles in metropolitan areas, accounted for the highest proportion of revenues in terms of distribution in 2018. In urban regions, people frequently buy instant ramen along with their regular groceries. Fast access to big supermarkets and hypermarkets is another important factor boosting instant noodle sales through this channel. Due to changing consumer preferences, businesses bring new kinds to the market, and supermarkets employ all of these products to attract more customers.

The demand in European region is expected to witness significant growth

In 2021, Asia Pacific had the greatest market share, and it is anticipated that over the forecast period, it will expand at a high CAGR. The greatest market share anticipated over the study period is accounted for by China, one of the major economies in the area. Large populations, rising urbanization, and an increased desire for fast meals all contribute to the demand for instant noodles.

The European market, especially Eastern Europe, enjoys a sizable market share because of the high demand for Asian noodles varieties and the expanding desire for convenience foods. The rest of Europe is the largest market, while the UK is anticipated to have the greatest CAGR during the study period.

Competitive Insight

Some of the major players operating in the global market include Acecook, Vietnam Joint Stock Company, Ajinomoto, Decker Sdn, Hebei Hualong Food, Indofood Sukses Makmur, Kohlico Brands, Mamee Double, Nestle, Nissin Food Products, NONGSHIM, and Tingyi.

Recent Developments

  • To serve a larger spectrum of customers who want to strengthen their immune systems, Nissin Food Co. recently switched to delivering a product line with higher nutritional benefits and fewer calories.

Instant Noodles Market Report Scope

Report Attributes

Details

Market size value in 2022

USD 54.61 billion

Revenue forecast in 2030

USD 86.47 billion

CAGR

5.91% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments Covered

By Product, By Distribution Channel, and By Region.

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Acecook Vietnam Joint Stock Company, Ajinomoto Co., Inc., Decker Sdn Bhd, Hebei Hualong Food Group, Indofood Sukses Makmur, Kohlico Brands UK Ltd., Mamee Double, Nestle SA, Nissin Food Products Co., Ltd., NONGSHIM Co. Ltd, and Tingyi (Cayman Islands) Holding Corp.

Key Take-Away
Polaris Market Research
Instant Noodles Market Size Global Report, 2022 - 2030