WASHINGTON, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Instant Noodles Market finds that the rise in the need for convenience food is accelerating market enlargement. Additionally, the increased working population base and rising demand for ready-to-cook items that need the least cooking time are anticipated to enhance the Global Instant Noodles Market growth during the forecast period.
The Global Instant Noodles Market revenue is expected to reach a value USD 69.9 Billion in 2028.
The Global Market revenue stood at a value USD 50.7 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period; states Vantage Market Research, in a report, titled "Instant Noodles Market Size, Share & Trends Analysis Report by Product Type (Cup/Bowl, Packet), by Pack Size (Single Pack, Four Pack, Six Pack, Other Sizes), by Distribution Channel (Store Based, Non Store Based), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Key Industry Findings & Insights from the report:
- The global Instant Noodles Market was valued USD 50.7 Billion in 2021 and is all set to surpass USD 69.9 Billion by 2028, exhibiting a CAGR of 5.5% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Instant Noodles industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
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Market Dynamics:
Driver:
Increasing Demand for Convenient Foods to Drive Market Expansion
Convenient foods are broadly becoming popular, particularly among working group people, hostel living people, teenage children, bachelors, and so on. Convenience foods are used to cut down the time of preparation for food/meal at home, hardly taking less than 5 minutes to cook the meal. In addition, several convenient foods can be eaten immediately or after adding some water by heating or thawing. They are frequently made and packaged before being consumed, can be used at any time, fast and efficiently by heating or thawing the food, and have been intended to be tasty, cheap, and non-perishable.
Furthermore, Instant Noodles Market have become very popular as they are served as a quick snack or meal. Also, Instant Noodles Market are available in an extensive range of flavors with different vegetarian and non-vegetarian variations. Besides, the market players are preparing new flavors, textures, colors, seasonings/tastemakers, and other things according to regional tastes and preferences. This will help to develop their consumer base.
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Segment Analysis:
- Product Type
- Cup/Bowl
- Packet
- Pack Size
- Single Pack
- Four Pack
- Six Pack
- Other Sizes
- Distribution Channel
- Store Based
- Non-Store Based
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The report on Instant Noodles Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
Asia Pacific Dominated the Global Instant Noodles Market
Asia Pacific is leading the global Instant Noodles Market and will continue to lead worldwide during the forecast period. This augmentation can be attributable to the surge in demand for convenience food products by the working population base in developing countries such as China and India. Moreover, China is the major contributor to the global Instant Noodles Market. Also, there has been increasing demand for Instant Noodles Market in this region as it is an important part of Chinese food. Besides, China is followed by Japan, Indonesia, Vietnam, India, the Republic of Korea, Thailand, and the United States.
List of Prominent Players in Instant Noodles Market:
- Nestle S.A. (Switzerland)
- Unilever PLC (U.K.)
- Ajinomoto Co. Inc. (Japan)
- Campbell Soup Company (U.S.)
- ITC Limited (India)
- Nissin Foods Co. Ltd (Hong Kong)
- Tat Hui Foods Pte. Ltd. (Singapore)
- Capital Foods Limited (India)
- PT Indofood Sukses Makmur Tbk (Indonesia)
- Acecook Vietnam Joint Stock Company (Vietnam)
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on "Instant Noodles Market Size, Share & Trends Analysis Report by Product Type (Cup/Bowl, Packet), by Pack Size (Single Pack, Four Pack, Six Pack, Other Sizes), by Distribution Channel (Store Based, Non Store Based), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Recent Developments:
April 2022: Yu Foodlabs, a consumer food brand that makes preservative-free meal bowls, announced that it is increasing its product portfolio by launching its new Instant Noodles Market (Yudles) at WH Smith and 24 Seven Stores. Yu was conceptualized to change the perception of packaged Ready to Eat Foods from pure 'convenience' foods to making daily meal choices with zero preservatives or additives and being 100 % natural.
February 2021: Marico Limited, an Indian multinational consumer goods company, entered the Instant Noodles Market space by introducing the "Saffola Oodles." The company initially offered these products via e-commerce platforms, including Saffola Stores, Flipkart, Amazon, Big Basket, Grofers, and across India.
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Instant Noodles Market for the base year and forecast period?
This market titled “Instant Noodles Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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