The global noodles market is estimated to grow at a strong CAGR during the forecast period (from 2017 to 2025), according to a report available on Radiant Insights, Inc. Growing consumption of affordable Ready-To-Eat (RTE) or half-cooked food products is anticipated to propel the demand for noodles. Growing demand of convenient food products among consumers due to busy and hectic lifestyles is also anticipated to have a positive influence on the market growth. Moreover, ease of use associated with unique packaging solutions and microwave cooking are likely to fuel market development in the forthcoming years.
Increasing number of working individuals and rising disposable income levels are also estimated to boost the demand for food products that can be cooked quickly and easily. This, in turn, is anticipated to propel the noodles market growth during the next few years. The global noodles market can be segregated on the basis of product, end-user, and region. Based on product, the market can be categorized into fresh noodles, instant noodles, and fine dried noodles. Instant noodles are the most popular product as they come precooked in packets and require lesser cooking time as compared to other noodle types.
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Most companies in the food industry are focusing on R&D and are adopting innovative strategies to develop new products that fulfil the consumer needs of healthy yet convenient foods. For instance, Nestle recently announced its collaboration with Amazon India for the launch of its new MAGGI Noodles nurti-licious range. The new product includes healthy ingredients such as Oats and Atta and offers 15 % RDA of protein. Based on end users, the market can be classified into residential, restaurant, and others. Residential segment is anticipated to have the maximum growth owing to rising demand for convenient food products among working population.
Products such as instant noodles allow working consumers to cook their meal in just a couple of minutes and save time for other things. Regional segmentation includes Europe, India, China, Japan, Southeast Asia, and North America. The noodles market in India is expected to grow at a substantial rate in the coming years owing to the rising consumption of noodles. Strong presence of market players and rising number of new entrants in the country can augment the market growth. Quick comeback of Nestle after the emergence of safety issues related to their product, Maggi Noodles, also signals high growth in the region.
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In China, the product demand may witness a decline due to shifting consumer consumption pattern. In addition, growing adoption of healthy food products owing to rising health consciousness can obstruct the market growth in the region. Moreover, shrinking migrant population in China, who were expected to be the major consumers can also impede market development. In North America, the market is anticipated to witness sluggish growth as a result of growing awareness regarding healthy lifestyle.
However, food technicians are focusing on R&D activities to come up with fortified instant noodles with increased nutritive values and reduced sodium content. This, in turn, may boost the market demand in these regions during the forecast period. Moreover, growing adoption of rice noodles made from rice flour and water as major ingredients can also influence the market growth in the years to come. Some of the leading companies in the noodles market are Master Kong; PT Indofood Sukses Makmur Tbk; Nissin Foods; Uni-President Enterprises Corp.; and Nongshim Co., Ltd.
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