NISSIN FOODS USA PREMIUM CATEGORY GROWTH FUELS PRODUCT EXPANSION

Creator of instant ramen, Nissin Foods wins with premium strategy in the U.S. market while honoring over 50 years of the Original Top Ramen® and Cup Noodles®

GARDENA, Calif., Aug. 3, 2022 /PRNewswire/ -- Nissin Foods, the creator of instant ramen, reported notable gains in 2021 following a year of unprecedented growth the year prior, with 22.2% growth in total product sales year-over-year. Fueled by a 30.9% share of the instant noodle market in the U.S., the company strengthened its position in the market supported by continued strategies for product innovation of its legacy brands including Cup Noodles and Top Ramen, after more than 50-years of operations.

"Our continued growth momentum and strong performance during a year of unwieldy supply chain challenges across the industry, are indicative of our ability to cater to rapidly changing consumer needs and preferences," said Michael Price, President and CEO of Nissin Foods, USA. "Over the last five years, we have remained consistent in our captured market share year-over-year further solidifying our strong second position in the market. Our global leadership, dedicated mission, and strategic innovation pipeline of premium products has us poised to regain our commanding position as the leader in the instant ramen category."

Underscoring the rising trend of premium instant ramen products paired with consumer demand for convenient, value products, Nissin Foods saw a 32.0% growth in premium net sales, leading the premium category with a 82.3% share. Upholding its reputation as a pantry staple in households across the country, Nissin surpassed 1.48 billion noodle servings sold in 2021, a result of achieving several business milestones across its brands which included the launch of its first, limited edition flavor with Cup Noodles Pumpkin Spice, entrance into the rice category with Cup Noodles® Stir Fry™ Rice With Noodles and leveraging the spicy foods trend with Hot & Spicy FIRE WOK.

"We continue to see demand growth across a broader consumer segment, which requires further diversification of our offerings and a strategic focus on premium, game-changing products and expansion into new categories," said Price. "Instilled by Nissin Foods Founder Momofuku Ando, innovation is the guiding principle of the company that is driven by the mission to feed the world with accessible and affordable products. This mentality enabled us to hit critical benchmarks, all while navigating the industry's production constraints and global obstacles."

Looking ahead, Nissin Foods has its sights on increasing its volume and value share in the market by expanding its premium product retail footprint, launching new and unexpected limited edition flavor profiles, cross-category integration, and aligning with brands and partners to continue to disrupt and push boundaries forward in the food industry and establish its leadership position in the ramen category.

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 1970, Nissin Foods USA opened its first plant in Gardena, California, introducing ramen noodles to American consumers. In 1971, Cup Noodles was launched in Japan, and then debuted as Cup O' 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®, Cup Noodles® Stir Fry™, Chow Mein, Hot & Spicy bowl, and Hot & Spicy FIRE WOK. The company's corporate philosophy inspires commitment to taste, convenience, and quality.

SOURCE Nissin Foods