The instant noodles market is projected to grow by USD 4.18 Billion from 2024-2028, with AI driving transformation and rising demand for regional and ethnic flavors boosting growth - Technavio

NEW YORK, Sept. 24, 2024 /PRNewswire/ -- The global instant noodles market size is estimated to grow by USD 4.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.2% during the forecast period. Increasing demand for regional and ethnic flavors is driving market growth, with a trend towards new product launches However, fluctuating raw material prices poses a challenge - Key market players include Acecook Vietnam Joint Stock Co., Ajinomoto Co. Inc., Baixiang Food Co. Ltd., Campbell Soup Co., Capital Foods Pvt. Ltd., CG Foods (India) Pvt. Ltd., ITC Ltd., Kohlico Brands UK Ltd., Mamee Double Decker Sdn. Bhd., Mareven Food Holdings Ltd., Nestle SA, Nissin Foods Holdings Co. Ltd., Nongshim Co. Ltd., Ottogi Co. Ltd., PT INDOFOOD SUKSES MAKMUR Tbk, Tat Hui Foods Pte. Ltd., Thai President Foods Public Co. Ltd., Toyo Suisan Kaisha Ltd., Uni President Enterprises Corp., and Unilever PLC.

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Market Driver

The instant noodles market experiences growth due to new product launches by both regional and international players. Nissin introduced a new chili-infused brand "GEKI" in the US market in August 2023. Nestle India expanded its Maggi brand with the launch of Maggi Korean noodles in BBQ chicken and BBQ veg flavors in November 2023. These new product launches contribute to increasing market shares, generating additional revenue, and attracting new consumers. Successful innovations provide a competitive edge for vendors in the global instant noodles market. 

Instant noodles continue to thrive in the global marketplace due to their appeal as ready-to-eat food solutions for hectic work schedules. This trend is driven by the prevalence of instant appetizers with longer shelf-life and wide availability. Health concerns, such as diabetes and obesity, have led to innovation in taste offerings, including seafood, utilization of chicken, and alternatives like oats, rice, and wheat. Raw material analysis focuses on digestibility properties and packaging analysis, particularly bag packaging and cup packaging, for transportation and storage. Microwave convenience is key, with instant noodles remaining an affordable protein and carbohydrate source for the middle-class population. Pre-pandemic levels of sales in supermarkets/hypermarkets and e-commerce continue to grow. Brands like Momofuku capitalize on these trends with vegetable, chicken, and seafood options. 

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 Market Challenges

• The instant noodles market faces challenges due to volatile prices of raw materials, particularly wheat and packaging components like aluminum, paper, and plastics. The increasing gap between supply and demand has significantly increased the costs of these materials. A rise in the price of plastic, for instance, increases packaging manufacturing costs, leading to reduced profit margins for vendors. To stay competitive, manufacturers explore low-cost substitutes, which might affect product quality. Additionally, suppliers can increase prices based on demand, escalating manufacturing costs further. These factors are anticipated to impede the expansion of the global instant noodles market during the forecast period.
• The instant noodles market, led by brands like Momofuku, faces challenges in the forthcoming years. The middle-class population's increasing inclination towards convenience, taste, and affordable price points keeps demand high. However, consumer health concerns call for measures like fortified products and healthier options. Pre-pandemic levels of consumption in supermarkets/hypermarkets and e-commerce platforms have shifted significantly due to social distancing and staying at home. Chicken, vegetable, seafood, wheat, oats, rice, and cup packaging remain popular. Innovative food products with nutritional benefits, such as vitamins, iron, calcium, and gluten-free options, are gaining traction. Air-fried, sun-dried, and air-dried noodles are also emerging trends. Nutrient deficiencies, malnutrition, obesity, and underweight remain concerns. Instant foods will continue to be essential food items in bulk, but innovation and consumer education are crucial.

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Segment Overview 

This instant noodles market report extensively covers market segmentation by

1. Type 
• 1.1 Fried
• 1.2 Non-fried
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Fried- The Instant Noodles market is a significant sector in the global food industry. It caters to the growing demand for convenient and affordable meal options. Key players in this market include Nestle, Unilever, and Indofood. They offer various flavors and brands to cater to diverse consumer preferences. Instant Noodles are distributed through various channels such as supermarkets, convenience stores, and e-commerce platforms. The market growth is driven by factors like increasing urbanization, changing consumer lifestyle, and rising disposable income.

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Research Analysis

Instant noodles have gained immense popularity worldwide due to their affordability and convenience. The middle-class population is a significant consumer base for this category, with Momofuku Ando's invention of instant ramen in the 1950s paving the way. Instant noodles come in various flavors, including Chicken, Vegetable, Seafood, and more, made from Wheat, Oats, Rice, and other grains. Nutrition is a crucial factor, with some products fortified to address nutrient deficiencies and combat malnutrition. Amidst the COVID-19 pandemic, instant foods, including instant noodles, have seen a surge in demand as essential food items for home-cooked meals. Consumption has increased in bulk, leading manufacturers to innovate and offer healthier products with improved nutritional benefits. Social distancing measures have further boosted sales, making instant noodles an affordable solution for the obese and underweight population. Despite concerns about obesity and undernutrition, instant noodles continue to be a staple food for many.

Market Research Overview

Instant noodles have gained significant popularity among consumers due to their convenience, affordability, and taste. The market for instant noodles continues to grow, fueled by the increasing middle-class population and the prevalence of hectic work schedules. These food products come in various flavors, including chicken, vegetable, and seafood, and are available in wheat, oats, rice, and cup packaging. Supermarkets and hypermarkets, as well as e-commerce platforms, are the primary distribution channels. Pre-pandemic levels of consumption saw instant noodles being consumed as essential food items in bulk, especially during social distancing measures and staying at home. In the forthcoming years, consumer inclination towards fortified and healthier products is expected to increase due to nutrient deficiencies and malnutrition concerns. Innovative food products, such as air-fried, sun-dried, and gluten-free noodles, are gaining popularity. The raw materials used in the production of instant noodles, such as wheat flour and chicken, undergo rigorous analysis for their digestibility properties and nutritional benefits. Packaging analysis focuses on microwave-safe materials and longer shelf-life. The global marketplace for instant noodles is vast, with various taste offerings, ready-to-eat food products, and instant appetizers, catering to the affordability factor and protein, carbohydrate requirements. However, health concerns, such as obesity and diabetes, are driving the need for nutrient-rich and lower-calorie options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Fried
• Non-fried
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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