Instant Noodles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Instant Noodles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Instant Noodles Market Introduction
Instant noodles are precooked and dried block of noodles sold in a package with seasoning oil or flavoring powder, usually in separate packets. Growing popularity of instant noodles among young-adult consumers and the millennial population is encouraging instant noodles market players to introduce innovative product varieties in terms of composition, nutritional values, flavors, and packaging. Owing to their fast-paced lifestyle, consumers are preferring to purchase food products that are easy and convenient to cook and are equally nutritious, which is one of the important growth parameters of the instant noodles market.
Instant Noodles Market – Notable Developments
- Ajinomoto Co., Inc., a Japanese food manufacturer in the instant noodles market, announced in September 2018 that it will form a new company – Ajinomoto Food Manufacturing Co., Ltd., by integrating the manufacturing and packaging business of Ajinomoto Packaging Inc. and Knorr Foods Co., Ltd. – Tokai Plant – and the processed foods and seasonings manufacturing and packaging business of its Kawasaki Administration & Coordination Office. The company also declared that it invested approximately JPY 40 billion for the formation of this new company.
- Nestlé S.A., an international food manufacturer in the instant noodles market, announced in August 2018 that it has launched ‘Maggi Special Masala Noodles’, its new product in the instant noodles category, on Flipkart, which is a Walmart-owned online platform in India. The company announced that it will be available on the ecommerce platform until it is launched in convenience stores and supermarkets. The company also declared that, with the launch of the new instant noodles product in India, it is focusing on developing innovative products to gain a competitive edge in the instant noodle market by introducing new finely ground and whole spices.
Some of the most prominent competitors operating in the competitive landscape of global instant noodles market include –
- Ajinomoto Co. Inc.
- Nestlé S.A.
- Indofood Group
- Campbell Soup Company
- The Unilever Group
- Nissin Food Products Co. Ltd.
- Capital Foods Limited
- ITC Limited
- COFCO
- Baixiang Food Group
Instant Noodles Market Dynamics
Convenience and Versatility of Instant Noodles are the Leading Contributors to its Increased Demand
The instant noodle market is witnessing exponential growth as instant noodles have become one of the most popular food items across the world. Being one of the first ready-to-eat foods launched in the global processed food industry, instant noodles products have become prevalent in households of consumers following modern and hectic lifestyle. Widespread acceptance of the product, driven by low cost, convenience, and product variety, instant noodles have become one of the most purchased food product in majority of the nations across the globe.
Instant noodles are witnessing tremendous demand owing to their primary parameters such as convenience, ease of cooking, and taste. The instant noodles market is expanding at a rapid pace with leading players introducing innovative products. With the launch of multiple, unique flavors of the instant noodles, leading players in the market are aiming to sync with local preferences.
Health-conscious Consumers Spurning Processed Food will Hamper Growth of the Instant Noodles Market
Increased prevalence of lifestyle diseases, such as heart diseases and obesity, is making consumers more health-conscious and thereby, are preferring to adopted healthier eating habits. The instant noodles market is likely to witness negative impacts due to increased awareness about negative effects of preservatives, artificial colors, flavorings, and processes to increase shelf life of instant noodles on their health.
As most consumers believe that regular consumption of instant noodles can pose serious health risks, which is impacting its demand, manufacturers in the instant noodles market are facing serious challenges. To tackle with this problem, leading players in the instant noodles market are focusing on increasing their R&D efforts to launch healthier and more nutritious instant noodles product. This is likely to bolster the use of functional ingredients in the manufacturing of instant noodles, which may emerge as a popular trend in the instant noodles market in the upcoming years.
Instant Noodles Market Segmentation
Based on the packaging, the instant noodles market is segmented into,
- Packets
- Cups
Based on the raw materials, the instant noodles market is segmented into,
- Rice
- Buck Wheat
- Wheat
- Starch
- Oats
- Others
Based on the product types, the instant noodles market is segmented into,
- Vegetable
- Sea Food
- Chicken
- Others
Based on the distribution channels, the instant noodles market is segmented into,
- Convenience Stores
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
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