NISSIN FOODS TRIPLES DOWN ON PREMIUM INNOVATION, STRENGTHENING U.S. POSITION FOLLOWING CONTINUED GROWTH

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Oct 03, 2023, 09:02 ET

GARDENA, Calif., Oct. 3, 2023 /PRNewswire/ -- Nissin Foods USA, the creator of the original Top Ramen® and Cup Noodles®, reported strong sales momentum continuing into 2023 at the closing of the company's first quarter, with a 21% growth increase over the same period in 2022. This marks the fourth consecutive quarter of high double-digit sales growth for Nissin Foods, underpinned by significant investments made in premium product innovations and the exceptional consumer demand for its brands.

"The strong performance across Nissin Foods and successful start to the fiscal year is a testament to our commitment to serve satisfying, yet unexpected products that deliver on consistency, value and meet the needs of our consumers," said Michael Price, President and CEO of Nissin Foods USA. "Core to Nissin Foods is our legacy of innovation that has set a new standard for the instant ramen category, which has led to unprecedented demand for our products and year-over-year growth. This year brings new product and brand launches, debuting the culmination of years of research and development work."

Nissin Foods premium brands remain the fastest-growing products in the portfolio, with sales up 28% compared to the year prior according to the September 2023 Circana report. With a dominating position in the US premium instant ramen category, Nissin Foods holds a 42% premium share, attributing to the company's overall growth. This follows the recent award recognition of the company's premium product line, Hot & Spicy FIRE WOK, by Circana's 2022 Product Pacesetters Report, which has garnered over $70 million in sales since launching in 2021.

The positive growth and national awareness of Nissin Foods is credited to the company's drive to extend the limits of innovation within its premium product portfolio, which has introduced product firsts to the market. Most recently, this included the launch of GEKI™, a new brand featuring the first chili-infused noodles available in the USA. Additionally, Nissin Foods debuted Cup Noodles Breakfast through the brand's limited-time offering series, which led to a surge in demand amongst consumers.

A formidable player in the instant ramen category, the inventor of instant ramen is on track to deliver another year of record sales growth.

For more information about Nissin Foods, please visit NissinFoods.com.

ABOUT NISSIN FOODS
Nissin Foods was established in 1958 by Momofuku Ando, who invented the first instant ramen noodle in Japan inspired by his belief that" peace will come to the world when there is enough food." In 1972, Nissin Foods USA opened its first plant in Gardena, California, introducing ramen noodles to American consumers. In 1971, CUP NOODLE was launched in Japan, and then debuted as Cup Noodles in the U.S. in 1973, revolutionizing the industry by creating a product that could package, prepare, and serve noodles all in one. For over 60 years, Nissin Foods has created delicious and convenient Asian-inspired meals at an affordable value. Nissin Foods USA develops and markets a variety of products including Cup Noodles®, Top Ramen®, Top Ramen® Bowl, Cup Noodles® Stir Fry®, Cup Noodles® Stir Fry® Rice With Noodles, Chow Mein, Hot & Spicy bowl, Hot & Spicy FIRE WOK and GEKI™. The company corporate philosophy inspires commitment to taste, convenience, and quality. Visit NissinFoods.com for more information.

SOURCE Nissin Foods