Overview and Scope
Instant noodles are a type of noodle that is sold in a pre-cooked and dried block, often with added flavoring powder and seasoning oil. These noodles are typically made using wheat flour that has been finely ground and combined with a mixture of alkaline salts to give them their distinctive texture and flavor. Instant noodles are used to reduce the cooking time of traditional noodles.
Sizing and Forecast
The instant noodles market size has grown strongly in recent years. It will grow from $55.77 billion in 2023 to $59.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to convenience and quick preparation, affordability and cost-effectiveness, extended shelf life and storage convenience, global expansion of instant noodle brands, cultural acceptance and adaptation.
The instant noodles market size is expected to see strong growth in the next few years. It will grow to $77.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to continued emphasis on convenience, diverse flavor innovations, rising demand for on-the-go snacking, product variations and health-conscious options, e-commerce and online sales growth. Major trends in the forecast period include customization and personalization, e-commerce and direct-to-consumer sales, plant-based and meat alternatives, globalization and cross-cultural fusion, technology and innovation.
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Segmentation & Regional Insights
The instant noodles market covered in this report is segmented –
1) By Type: Fried Noodles, Non-Fried Noodles
2) By Packaging: Packets, Cups
3) By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Other Distribution Channels
Asia-Pacific was the largest region in the instant noodles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the instant noodles market report during the forecast period. The regions covered in the instant noodles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for ready-to-eat food products is expected to propel the growth of the instant noodles market in the coming future. Ready-to-eat (RTE) products refer to a class of food items that have been cleaned, cooked, and in most cases packaged before being made available for consumption. These foods must be cooked to allow the lowest internal temperature to reach a minimum temperature for a minimum holding time during manufacturing to destroy microorganisms that pose a threat to public health. Foods in this category typically contain raw materials of animal origin, such as eggs, fish, meat, poultry, and ratites. For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover of £105bn in 2020 and a turnover of £112bn in 2021, it has increased by 3.4% since 2020, and accounting for 20% of the total UK manufacturing. Additionally, in March 2021, according to Statistics Canada and farm credit Canada (FCC) says that food and beverage manufacturing sales increased 3.5% year-over-year (YoY) in 2020 from $118.7 billion to $122.9 billion. Therefore, the rising demand for ready-to-eat food products will drive the demand for the instant noodles market.
Key Industry Players
Major companies operating in the instant noodles market are focused on developing innovations, such as quality improvers, to gain a competitive edge in the market. Food quality improvers, also known as food additives, are substances added to food to enhance its appearance, flavor, texture, or shelf life. For instance, in March 2023, Kemin Industries Inc., a US-based provider of specialty ingredients, launched VALTEQ. VALTEQ is a unique line of liquid product solutions that address some of the everyday challenges faced by noodle manufacturers, including noodle sticking, clumping, and oxidation. It is a revolutionary line of products that can help instant noodle manufacturers produce higher-quality noodles and protect them from sticking to production molds.
The instant noodles market report table of contents includes:
- Executive Summary
- Instant Noodles Market Characteristics
- Instant Noodles Market Trends And Strategies
- Instant Noodles Market – Macro Economic Scenario
- Global Instant Noodles Market Size and Growth
- Instant Noodles Market Segmentation
- Instant Noodles Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Instant Noodles Market
- Instant Noodles Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Instant Noodles Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Instant Noodles Market, Segmentation By Packaging, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Instant Noodles Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………
Table 74: Nestlé SA Financial Performance
Table 75: Ajinomoto Co. Inc. Financial Performance
Table 76: Nissin Foods Holdings Co. Ltd. Financial Performance
Table 77: Hebei Hualong Noodle Group Changchun Food Co. Ltd. Financial Performance
Table 78: Indofood Sukses Makmur Tbk PT Financial Performance
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