HomeBusinessInstant Noodles Market to Witness Huge Growth by 2023 | Nestle SA, Ajinomoto Co., Inc., The Unilever Group
Instant Noodles Market to Witness Huge Growth by 2023 | Nestle SA, Ajinomoto Co., Inc., The Unilever Group
January 24, 2020
“Global Instant Noodles Market Research Report – Forecast to 2023” Market latest research study released by Report Ocean provides an in-depth assessment of the INSTANT NOODLES including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and strategies. The latest research study provides market opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support for business intelligence.
Global INSTANT NOODLES Market by by Type, Method, by Application, and Regions – Americas, Europe, Asia-Pacific and Middle East & Africa and Forecast till 2023
The leading market players in the global instant noodles market primarily are Nestle SA (Switzerland), Ajinomoto Co., Inc. (Japan), The Unilever Group (Pot Noodles) (UK), Campbell Soup Company (U.S.), Nissin Foods Co., Ltd (Hong Kong), Capital Foods Limited (India), ITC Limited (India).
> The emergence of instant noodles has added a new dimension to consumers’ meals; noodles are being consumed not just by kids (who are the core target audience) as an evening snack or a ?tiffin’ meal but by consumers across all age groups, as an eating option beyond the ?mundane’ ones. While it continues to be a home snack, it is also increasingly being consumed at workplace, colleges, etc. Geographically too, the appetite for instant noodles is growing with players now eyeing the semi-urban and rural markets. The category’s penetration is low in India (~20-25%), thus presenting a lucrative opportunity for growth.
> Players present in the space are innovating and adding value to establish a unique brand proposition in the consumers’ mind. Some of the major developments in this direction include: o Introduction of new flavors. To kindle the consumer’s interest in the category and also cater to the diverse and changing tastes of the consumer, instant noodles brands constantly enhance their product offerings by adding new flavors. In addition to the classic Masala and Chicken flavors, a wide range of flavors including Indo-Chinese, Chinese, tomato, etc. have been launched.
Instant noodles have become one of the world’s most popular food items owing to its versatility and convenience. This product is one of the first ready-to-eat foods launched widely in the global food industry and now it has successfully become an important part of modern lifestyle. The present day instant noodles symbolizes convenience, quality and health. Instant noodles market has undergone many innovations in recent years which have led to the introduction of multiple flavors of the product in the market suiting to local preferences.
China accounts for highest percentage share in terms of export of Instant noodles. Demand of China instant noodles was 41,980 Billion packs servings in 2010 which is increased to 43,979 Billion packs servings in 2014. However, Global demand of instant noodles reached 102.75 billion units in 2014 making China contribution above 43% of world’s consumption. Chinese Instant noodles market witnessed a high growth from US$ 8.4 billion in 2008 to US$ 14.5 billion in 2015.
Furthermore, the years considered for the study are as follows:
Historical year – 2013-2017
Base year – 2018
Forecast period** – 2019 to 2023 [** unless otherwise stated]
Global instant noodles market has witnessed significant growth in recent years and Volume is projected to reach 133.14 Billion packs, and will grow at a CAGR of 5% by 2023. However, global instant noodles market value will grow at a CAGR of 5.18%. APAC dominates the market and accounted value of 49.35 Billion packs in 2017, however Volume is estimated to reach 66.17 Billion packs by 2023 and will grow at a CAGR of 5.02 % CAGR. Moreover, Europe is projected to grow at a highest CAGR of 5.59 %, Volume will reach 66.17 Billion packs.
The market research study offers in-depth regional analysis along with the current market scenarios. The major regions analyzed in the study are:
Major Highlights of TOC:
Chapter One: INSTANT NOODLES Market Industry Overview
1.1 INSTANT NOODLES Industry
1.1.2 Products of Major Companies
1.2 INSTANT NOODLES Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview
Chapter Three: INSTANT NOODLES Market by Type
3.1 By Type
3.1.1 TYPE 1
3.1.2 TYPE 2
3.2 INSTANT NOODLES Market Size by Type
3.3 INSTANT NOODLES Market Forecast by Type
Chapter Four: Major Region of INSTANT NOODLES Market
4.1 INSTANT NOODLES Sales
4.2 INSTANT NOODLES Revenue & market share
Chapter Five: Major Companies List
Chapter Six: Conclusion
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