Instant Noodles Market Size

Instant noodles are dried noodle blocks with flavoring powder or seasoning oil. Along with a combination of alkaline salts, instant noodles are made up of fine wheat flour. In smaller amounts, various extra ingredients such as starch, edible oil, gluten, and stabilizers like guar gum are also added to the dough. Instant noodles are pre-cooked dried noodles that, using one of the two methods, either flash or air frying, are dehydrated. In general, they are followed by a tiny sachet containing the tastemaker. Furthermore, flour, salt, water, palm oil, starch, and other noodle flavor enhancers are used to produce these products. Instant noodles are readily available from different brands in brick-and-mortar stores and supermarkets. They contain several micronutrients, including iron, vitamin B, and manganese.

Market Highlights

Global Instant Noodles Market to surpass USD 56,320millionby by 2030 from USD 41,210millionin in 2018 at a CAGR of 3.13% throughout the forecast period, i.e., 2019-30.

Consumers are seeking comfort foods due to hectic lifestyles. In addition, the rising per capita disposable income of customers, followed by their increasing demand for ready-to-cook items requiring minimal cooking time, is expected to drive the global market for instant noodles in the coming years. In addition, the health-conscious population is expected to be drawn to fortified instant noodles, which will have a positive effect on market development. With a growing number of departmental stores, hypermarkets, supermarkets, and convenience stores around the world, the growth of the organized food retail sector is expected to promote the sales of instant noodles

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Global Instant Noodles Market: Segments

Cup/bowl Type Segment to grow with the highest CAGR during 2019-30

Global Instant Noodles Market is segmented by product into Cup/Bowl and Packet.The greater market share in 2019 was accounted for by Packetsegment as it has become an essential part of life among consumers. Packet instant noodles are the leading segment, which is growing at a substantial CAGR to reach USD 27,120 million by the end of 2030. The availability of instant package noodles with different pack sizes and the benefit of their purchase according to the usage primarily drives the growth of this segment. The demand for cup/bowl instant noodles has also increased recently as it has many add-on flavors.The cup/bowl segment is expected to witness the fastest CAGR of 3.37% during the forecast period owing to its convenience and benefits of on-the-consumption.

Supermarket/Hypermarket segment to grow with the highest CAGR during 2019-30

Global Instant Noodles Market is segmented by Distribution Channel into Supermarket/Hypermarket, Traditional Grocery Stores, Online Retailing and Others. Based on the distribution channel, supermarkets/hypermarkets held the largest share in 2018 in terms of revenues in the urban area’s supermarkets/hypermarkets are the major channels of distribution of instant noodles. People tend to purchase instant noodles along with their daily grocery in urban areas. A major factor improving the sales of instant noodles through this channel is also the fast accessibility to these supermarkets/hypermarkets. Supermarkets ensure that they use all these products to draw more consumers due to evolving consumer tastes, players launch new varieties on the market.

Global Instant Noodles Market: Market Dynamics

Drivers

High demand for convenience food and change in food habits

Global demand for instant noodles is expected to experience significant growth during the forecast period. Due to the quality of various ingredients, including dehydrated vegetables and animal-based proteins for which they are supplemented with meals in some regions, instant noodles are typically great at filling the stomach. Moreover, in the coming years, the large range of flavors in instant noodles is expected to fuel market demand. Also contributing to the growth of the industry are comprehensive marketing campaigns with novel strategies and creative advertising by producers.

Increase in disposable income and growing working population

Growing urbanization and increasing disposable incomes have altered consumers' eating habits. The working population now prefers cheap and fast meals, such as instant noodles, which require minimal cooking, because of the hectic lifestyle. This improvement in their eating habits has provided a great opportunity for the demand for instant noodles to succeed. In addition, manufacturers continue to formulate new flavors, colors, textures, and seasonings/tastemakers to broaden their customer base according to regional tastes and preferences.

Restraints

Growing concerns regarding health issues

The use of instant noodles could be hindered by excessive use of artificial colors, preservatives, flavorings and extensive processing for extended shelf life may restraint the market growth. A substantial proportion of the population falls from the middle or lower-middle classes. Price sensitivity, therefore, plays an important role in hindering the development of the country-wide instant noodle industry. Many rural residents are unaware of the different products available until they see them at their local store.

Global Instant Noodles Market: Regions

Global Instant Noodles Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Global Instant Noodles Market in the Asia Pacific held the largest market share of 82.15% in the year 2018and is projected to grow at a CAGR of 3.16% during the forecast period. China is one of the region's leading economies, accounting for the largest market share expected during the review period. The demand for instant noodles is fueled by large population sizes, rapid urbanization, and increased demand for fast foods. Due to the high demand for Asian noodle flavors and the growing trend for convenience foods, the market in Europe, particularly Eastern Europe, enjoys a significant market share. The biggest market is expected to be the rest of Europe, while the UK is expected to report the highest CAGR during the review period.

Competitive Landscape:

Global Instant Noodles market, which is highly competitive, consists of several major players such as Unilever PLC (UK), Nestlé S.A. (Switzerland), Campbell Soup Company hold a substantial market share in the Global Instant Noodles market. Other players analyzed in this report are Ajinomoto Co., Inc. (Japan), Nissin Foods Co., Ltd (Hong Kong), ITC Limited (India), Capital Foods Limited (India), Tat Hui Foods Pte. Ltd. (Singapore), Acecook Vietnam Joint Stock Company (Vietnam), and PT Indofood Sukses Makmur Tbk (Indonesia)among others.

Global Instant Noodles Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Instant NoodlesMarket: Key Players

Capital Foods Pvt. Ltd
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Master Kong (Shenyang) Instant Noodle Foodstuff Co., Ltd.
Hebei Hualong Food Group
Indofood Sukses Makmur
Nissin Foods
Nestle
Acecook Vietnam Joint Stock Company