NISSIN FOODS USA REPORTS DOUBLE-DIGIT GROWTH, DOMINATING INSTANT RAMEN CATEGORY

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Apr 04, 2023, 09:47 ET

GARDENA, Calif., April 4, 2023 /PRNewswire/ -- Nissin Foods USA, the creator of Top Ramen® and Cup Noodles®, reported notable gains during the fourth quarter of 2022, reporting a 41% increase in sales versus the same time a year ago¹. The continued strong growth has allowed Nissin Foods to solidify its position as a US market leader in the instant ramen category, reporting a 32% YoY jump in overall category growth.

"Nissin Foods has seen monumental growth over the past five years, significantly outpacing the category. The key growth drivers have been leveraging global leadership in product development and innovation," said Michael Price, President and CEO of Nissin Foods USA. "This has set Nissin Foods on a trajectory to catapult beyond our competitors and regain our leadership position in the U.S. market."

Nissin Foods success in growing sales and market share is attributed to launching exciting and new innovative products. To date, Nissin Foods holds an impressive 40% share of the premium instant ramen category, firming its hold as the U.S market leader. Nissin Foods premium products include Hot & Spicy FIRE WOK, Hot & Spicy, Cup Noodles® Stir Fry™, Cup Noodles® Stir Fry™ Rice with Noodles and Top Ramen® Bowl.

The continued growth in the instant ramen category required the company to keep up with demand. This included a multi-million dollar investment in the Nissin Foods Lancaster Plant installing an additional line, expanding its overall capacity by 15%. This follows the 2020 opening of the brand's distribution center in Lancaster, PA.

In addition to the company's growth, Nissin Foods remains committed to its EARTH FOOD CHALLENGE 2030 by integrating sustainability initiatives designed to supplement the electricity used in business activities with renewable energy. One of the latest initiatives includes the implementation of solar panels at Nissin Foods USA Headquarters in Gardena, California, providing 100% of the electricity for the corporate office, along with the introduction of EV charging stations.

In 2023 Nissin Foods will remain committed to innovation and providing its loyal customers with high-quality, premium ramen products that satisfy their needs and preferences.

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, and Hot & Spicy FIRE WOK. The company corporate philosophy inspires commitment to taste, convenience, and quality. Visit NissinFoods.com for more information.

¹Data according IRI®, Total US-Multi Outlet, 52 weeks

SOURCE Nissin Foods