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Global Instant Noodles Market to Reach 124 Billion Packets By 2024

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"Instant noodles today represent one of the world’s most popular food items as well as the most loved snack among all age groups around the world. They are cheaper than any other fast food meal and can be easily cooked within a few minutes. A ubiquitous snack, instant noodles are produced in more than 80 countries and come in various veg and non-veg variations with large number of flavours in both varieties. The flavour, smell, colour, texture and seasonings/tastemakers can be developed according to regional tastes and preferences. Instant noodles are commonly available in precooked and dried noodle block form, with flavouring powder and/or seasoning oil."

According to a new report by Expert Market Research, the global instant noodles market reached a volume of 113 Billion packets in 2018 and is further expected to reach a volume of 124 Billion packets by 2024. The consumption of instant noodles has swiftly increased over the past decade due to a number of factors.  Busy lifestyle of people have resulted in a higher demand for ready-to-eat and convenience foods. Moreover, the shelf life of instant noodles ranges from 4 to 12 months, which means that it can be easily taken along for travelling and tours. Other factors such as increasing population, rising purchasing power of consumers, product innovations and growing demand from developing regions are further inducing the growth of the global instant noodles market.

Key findings from the report:

  • Country-wise, China represented the largest consumer of instant noodles and accounted for nearly 43% of the global consumption in 2015. China was followed by Indonesia, Japan, India, Vietnam, the United States, Republic of Korea, Thailand, Saudi Arabia and others.
  • Some of the top players operating in the global instant noodles market are Nissin Foods, Myojo Foods, Nestle, Mama Instant Noodles, Indomies, Indofood Sukses, Sanyo Foods, Bai Xiang and Hwa Long.
  • The market experiences a heavy competition with players constantly coming up with more quality products and are targeting emerging markets by expanding their production and geographical reach. Keeping in mind the increasing health consciousness among the consumers, manufacturers are enhancing the nutritional value of the products through fortification.

 

Expert Market Research has analysed the global instant noodles market according to major regions and top players:

Market breakup by Region

  • China
  • Indonesia
  • Japan
  • India
  • Vietnam
  • The United States
  • Republic of Korea
  • Thailand
  • Saudi Arabia
  • Others

Top Players

  • Nissin Foods
  • Myojo Foods
  • Nestle
  • Mama Instant Noodles
  • Indomies
  • Indofood Sukses
  • Sanyo Foods
  • Bai Xiang
  • Hwa Long

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"Instant Noodles Market Report: By Country, China, Indonesia, Japan, India, Vietnam, United States, Republic of Korea, Thailand, Saudi Arabian & Others; SWOT Analysis; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); Competitive Landscape"

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