In 2022, the worldwide Instant Noodles Market is valued at US$ 23.5 billion. The global market for instant noodles is expected to grow at a 4% CAGR to US$ 35 billion by the end of 2032.
Instant noodles are also referred to as instant ramen. This sort of noodle is pre-cooked and usually comes in a dry block with preservatives, flavoring powder, and seasoning oil. Cup noodles have flavor mixed in, as opposed to typical instant noodles, which have seasoning in a separate packet. Some instant noodles can be cooked in an oven, while others can be eaten right away by just adding hot water to the container.
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The rising global demand for convenience foods is expected to boost demand for instant noodles in the global market. Throughout the evaluation period (2022-2032), Asia Pacific is expected to maintain a dominant position in the worldwide market. This regional market is rapidly expanding due to increased demand for quick foods, a big regional population, and significant advancements in food processing technologies.
Competitive Landscape:
Key producers of instant noodles are launching new products according to consumers’ demand that will further help them gain a competitive edge in the industry.
Marico Limited is an Indian Multinational consumer goods manufacturer. The company entered into the instant noodles space in February by launching “Saffola Oodles”. At the initial level, the company served its products through e-commerce platforms that include BigBasket, Saffola Stores, Flipkart, Amazon, and Grofers across India.
Key Players:
- Ajinomoto Co., Inc.
- Nestle India Limited
- Sco-Fro Foods Ltd.
- Toyo Suisan Kaisha Ltd.
- Nissin Food Holdings
- The Campbell Soup Company
- Capital Foods Pvt. Ltd.
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Regional Analysis:
Because of the region’s growing consumption of instant noodles, Europe accounts for a sizable portion of the global market. Vegans are becoming increasingly popular throughout the continent, particularly in Germany. People in Germany are eating quick noodles with vegetables. Consumers’ hectic lifestyles are also expected to contribute to the demand for these rapid food products. Germany’s market is expected to grow at a CAGR of 4.3% through 2032.
Because of changing lifestyles and increased demand for these items among low-income consumers, North America represents consistent expansion in the market for instant noodles. Canada is expected to grow at a 3.9% CAGR through 2032.
Furthermore, the growing desire for easy-to-prepare eatables due to hectic lives, along with the low cost of these instant meal items, is expected to promote their sales in the regional market.
Key Segments of Industry:
- By Product :
- Chicken
- Vegetables
- Seafood
- Others
- By Raw Material :
- Oats
- Rice
- Wheat
- Others
- By Packaging :
- Bags
- Cups
By Distribution Channel :
-
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
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