USD 51.65 billion
Instant Noodles Market Size, Share, Growth Analysis, By Type(Chicken, vegetables, seafood and others), By Raw Material(Oats, rice, wheat), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2185 |
Region:
Global |
Published Date: February, 2024
Pages:
232
|Tables:
63
|Figures:
65
Instant Noodles Market Insights
Instant Noodles Market size was valued at USD 51.65 billion in 2019 and is poised to grow from USD 54.6 billion in 2023 to USD 81.84 billion by 2031, growing at a CAGR of 5.95% in the forecast period (2024-2031).
Consumer eating habits have changed as a result of increased urbanization and disposable income. In addition, it is anticipated that the global market for instant noodles would be driven in the future years by customers' rising need for ready-to-cook foods that require less preparation time. Moreover, fortified instant noodles are anticipated to draw the population who are health aware, which would benefit market expansion. Throughout the projected period, the market is anticipated to rise significantly. Because they contain a variety of nutrients, such as dehydrated veggies and animal-based proteins, which can sometimes substitute for meals in some areas, instant noodles are typically excellent at filling the stomach. Manufacturers' extensive marketing efforts using cutting-edge tactics and creative advertising are also helping the industry expand.
The need for ready-to-eat food products that are quick to prepare and consume without interfering with every day routines is being driven by people's demanding work schedules. Because they provide numerous advantages to consumers, such as quick appetizers, a longer shelf life, and more availability in the global market, convenient food products have grown immensely in popularity. One of the most well-liked consumer snacks, this kind of noodle is rapidly gaining popularity on the international market, which will support growth during the predicted period. The market has a huge possibility to grow as a result of this change in consumers' eating habits. The use of chemical preservatives in such goods, however, results in metabolic syndrome and other health problems in children and young people, including diabetes, hypertension, and others; as a result, this factor is delaying the growth of the global instant noodles market. Other elements, such as rising public knowledge of the benefits of using organic, fresh, and home-cooked food, could provide new challenges for the market.
US Instant Noodles Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Chicken
Fastest Growth
Chicken
Growth Rate
5.95% CAGR
Global Instant Noodles Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Instant Noodles Market Segmental Analysis
Global Instant Noodles Market is segmented on the basis of type, raw material and region. By type, the market is segmented into chicken, vegetables, seafood and others. By raw material, market is segmented into oats, rice, wheat. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Instant Noodles Market Analysis by Type
The use of chicken in product manufacture has a beneficial impact on the market because of the food's delicious flavor and low price. The demand for chicken products has increased significantly worldwide over the past 30 years, according to the Food and Agricultural Organization of the United Nations (FAO). Customers are focusing on foods that can manage their health effectively as well as taste good, and chicken is proven to be a better choice because it is a wonderful source of protein, carbs, and other nutrients.
Seafood is expected to be the fastest-growing segment in the global market due to rising demand for nutritious foods, as well as lower pricing and greater availability of raw materials. Current natural and vegan market trends are expected to improve the vegetable industry.
Instant Noodles Market Analysis by Raw Material
Wheat and wheat flour used in the global food market has increased during the past few decades. Wheat-based products are now widely available throughout the supply chain, have excellent digestive qualities, are rich in iron, calcium, vitamins, and other nutrients, and have become more popular among consumers. Yet, raising consumer awareness of the advantages of oats and rice will favorably impact the expansion of the world market as a whole.
Global Instant Noodles Market Size By Type 2021(%)
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Instant Noodles Market Regional Insights
Asia-Pacific is the largest and fastest-growing region. The market for instant noodles in Asia Pacific is a result of the region's rising appetite for RTE foods. The region's market is growing as a result of a large consumer base and their rising disposable incomes, which enable them to spend on a variety of food items on the market. Asia-Pacific consumers are more likely to spend more money on fast food in order to avoid spending a lot of time on traditional cooking. Instant noodles are one of the most cost-effective and practical meals. Its demand is increasing swiftly in the region's heavily populated countries including China, Indonesia, and India. Instant noodle consumption has significantly expanded as a result of investments and innovations made by China's major players. One of the main elements that is anticipated to increase the product's consumption in the market is the growing working population, which includes more women working, as well as the expanding working population and active young groups. In the near future, this is projected to drive the market.
Due to the expanding popularity of instant noodles in the region, Europe accounts for a significant percentage of the global market. In the region, particularly in Germany, there is a significant rise in the number of vegans. Germany-based consumers are devouring quick noodles with vegetables. The frantic way of life of customers is probably another factor in the desire for these rapid food items. It is expected that throughout the forecast period, the German market would grow at the fastest Rate.
Global Instant Noodles Market Size By Geography, 2021-2030
- Largest
- Fastest
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Instant Noodles Market Dynamics
Instant Noodles Market Drivers
Convenient food products are becoming more popular
- The demand for ready-to-eat food products that are easy to prepare and consume is increasing as a result of people's busy work schedules. As a result, people now favor convenience meals greatly since they provide a number of advantages, including quick appetizers, a long shelf life, and widespread availability in the global market. Instant noodles are one of the most well-liked snacks, and their enormous global appeal will help the global market during the forecast period.
Raising middle-class people to support growth
- Due to its high affordability and availability in numerous supermarkets and hypermarkets, the product is receiving a significant and favorable response from consumers. The growing middle class in the world is one of the key growth drivers for the industry since the product's pricing and availability of consumer packs are within reach.
Instant Noodles Market Restraints
Growing diabetes and obesity prevalence
- Although the food has a good taste and is convenient, there is little nutritional value supplied to the consumer. In particular for the obese population, its high fat and carbohydrate content serves as a constraint. Consumers now eat fewer of these items as a result of growing awareness of the health risks connected with obesity and diabetes. The National Center for Biotechnology Information (NCBI) claims that its use is positively linked to obesity and the cardio-metabolic syndrome, which further reduces the product's overall market share.
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Instant Noodles Market Competitive Landscape
The global instant noodles market is a fast-paced, highly competitive environment. Additionally, there are a wide variety of private label brands available in various countries. The market is characterized by intense competition between major players, who are constantly innovating and developing new products to attract customers. Additionally, price competition is a key factor, as consumers are increasingly looking for value-for-money products. In order to stay ahead of competitors and capture a larger share of the market, companies must focus on product differentiation. They must also engage in aggressive marketing campaigns and invest in research and development to develop products that meet consumers’ needs. Additionally, companies must pay attention to trends in the market and respond quickly to changing consumer tastes. In conclusion, the global instant noodles market is a highly competitive environment. Companies must focus on product differentiation, aggressive marketing campaigns, and innovative research and development to remain competitive and capture a larger share of the market.
Instant Noodles Market Top Player’s Company Profiles
- Nissin Foods Holdings Co., Ltd.
- Unilever Group
- Nestle S.A.
- ITC Limited
- Samyang Foods Co., Ltd.
- Indofood CBP Sukses Makmur Tbk PT
- Ajinomoto Co. Inc.
- Acecook Vietnam Joint Stock Company
- Ottogi Co., Ltd.
- Tat Hui Foods
Instant Noodles Market Recent Developments
- In July 2022, the Rice noodle brand Foodle Noodle launched its first clean-label quick cup noodles product with completely organic ingredients in Thailand.
- In May 2022, The Naked brand of instant noodles from Symington released a vegetarian and vegan pot trio with Asian flavors.
- In August 2021, Momofuku launched its own brand of "cleaner" instant noodles. The decision was made after the well-known Japanese restaurant chain changed its business strategy in the wake of the outbreak.
- In December 2021, Nestlé scientists established and approved a unique nutritional concept for carbohydrate quality in collaboration with internationally renowned experts from prestigious institutions including Tufts University in Boston, Nutrition Research Australia, and the National University of Singapore. According to the business GRAINSMART balancing, the idea consists of a predetermined proportion of carbohydrates, fibers, and sugars with the intention of lowering the amount of free sugars while raising the amount of fiber. This in turn promotes the transition to healthier goods and more wholesome meals.
- In December 2021, Nestlé Lanka opened its flagship kiosk, known as "Café Goodness," on the island of Sri Lanka with the assistance of Nestlé Professional, the company's provider of out-of-home food and beverage solutions. Cafe Goodness, conveniently situated on the grounds of the Bloomfield Cricket and Athletic Club, is a one-stop shop for customers looking for quick and enticing food and beverage substitutes made from Nestlé goods. Nestlé has established itself as a necessary component of Sri Lankans' daily lives during the past 115 years.
Instant Noodles Key Market Trends
- Growing demand for healthy and organic instant noodles: Consumers are increasingly looking for healthier food options, including instant noodles. As a result, manufacturers are introducing organic and healthier instant noodle options to cater to this growing demand.
- Innovation in flavors: Instant noodles manufacturers are introducing a wide range of flavors to cater to the diverse preferences of consumers. They are also experimenting with new and unique flavors to attract new customers.
- Online retailing: Online retailing has emerged as a significant distribution channel for instant noodles. Manufacturers are leveraging e-commerce platforms to increase their reach and cater to the growing demand for instant noodles among online shoppers.
- Expansion in emerging markets: Manufacturers are expanding their operations in emerging markets such as Asia Pacific, the Middle East, and Africa, where the demand for instant noodles is high. This expansion is driven by factors such as rising disposable income, changing consumer preferences, and increasing urbanization.
- Introduction of new packaging formats: Manufacturers are introducing new packaging formats for instant noodles to improve convenience, portability, and shelf life. For example, some manufacturers are introducing microwavable cups and bowls that allow consumers to cook and eat the noodles directly from the container.
- Rising popularity of vegetarian and vegan instant noodles: There is a growing trend towards vegetarian and vegan diets, and manufacturers are introducing vegetarian and vegan instant noodles to cater to this demand.
Instant Noodles Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Instant Noodles Market analysis, the global market is a large and rapidly growing market that has witnessed significant growth in recent years. Instant noodles are a popular and convenient food option for consumers worldwide, and the market is expected to continue growing in the coming years. The Asia Pacific region is the largest market for instant noodles, with countries such as China, Japan, and South Korea being major consumers. The region is expected to continue driving the growth of the global of consumers. The global market is expected to continue growing in the coming years, driven by factors such as convenience, affordability, and changing consumer preferences. However, the market is also facing challenges such as increasing health concerns among consumers and the rise of alternative food options. Manufacturers need to continue innovating and introducing healthier and more diverse options to cater to the evolving preferences of consumers and remain competitive in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 51.65 billion |
| Market size value in 2031 | USD 81.84 billion |
| Growth Rate | 5.95% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Instant Noodles Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Instant Noodles Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Instant Noodles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Instant Noodles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Instant Noodles Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Instant Noodles Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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