Press release
Global Instant Noodles Market 2024 Future Scope, Industry Analysis, Competitive Landscape And Forecast To 2033
Instant Noodles Market
The Business Research Company offers in-depth market insights through Instant Noodles Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Increasing Demand For Ready-To-Eat Food Fuels Expansion In The Instant Noodles Market
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.
Competitive Landscape:
Major companies operating in the instant noodles market report are Nestlé SA, Ajinomoto Co. Inc., Nissin Foods Holdings Co. Ltd., Hebei Hualong Noodle Group Changchun Food Co. Ltd., Indofood Sukses Makmur Tbk PT, Master Kong Chongqing Convenience Food Co. Ltd., Acecook Vietnam Joint Stock Company, Nongshim Co. Ltd., PT Indofood Sukses Makmur Tbk, Decker Sdn Bhd, Kohlico Brands UK Ltd., Mamee Double Decker BHD, Aico Food Ltd., Samyang Corporation, Capital Foods Pvt. Ltd., Toyo Suisan Kaisha Ltd., Campbell Soup Company, ITC Limited, Unilever plc, Monde Nissin Corporation, TF Co. Ltd., Sanyo Foods Co. Ltd., Tat Hui Foods Pte. Ltd., Ting Hsin International Group, Uni-President Enterprises Corp., Nong Shim Co., Jinmailang Foods Co., Baijia Food Group Co. .
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Top Trend - Innovative Trends In The Instant Noodles Market
Product innovation is the key trend gaining popularity in the instant noodles market. Major companies operating in the instant noodles market are focused on developing innovative products to strengthen their position in the market. For instance, in April 2022, Yu Foodlabs, India based instant meal bowls food brand, launched two signature instant noodle bowls with unique and appetizing flavors, Zingy Cheese and Chilli Manchurian. Zingy Cheese noodles are made with cheddar cheese, spring onions, and corn kernels. that provides 100% natural, ready-to-eat cup noodles that require only 5 minutes to prepare by simply adding hot water and containing no preservatives or artificial additives. Manchurian sauce perfectly complements the noodles and vegetables. Both flavors are inspired by the aesthetics of Indo-Chine cuisine, the latest offerings are free from preservatives and are provided at affordable prices.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Instant Noodles Market Characteristics
3. Instant Noodles Market Trends And Strategies
4. Instant Noodles Market - Macro Economic Scenario
5. Instant Noodles Market Size And Growth
…..
27. Instant Noodles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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