Instant Noodles Market Research Report includes various topics like total Market Size, Key Market Drivers, Challenges, Growth Opportunities, Industry Share, Growth, Demand, Outlook etc. Furthermore, it covers key market updates, the impact of regulations and technological updates in. The report addresses the need to stay updated in this competitive market conditions and this provides and comprehensive data for making strategies and decision to stimulate the market growth and profitability.
Market Overview
Instant noodles are a form of fast food that is made from wheat flour, water, starch, salt or an alkaline salt mix comprising potassium carbonate, sodium phosphate, and sodium carbonate, and other noodle flavor and texture enhancer additives. It is available in every other cafeteria and fast food centers in major economies around the globe. These are rapidly gaining importance owing to its quick to make and easy to store characteristics. With the changing lifestyle of consumers and evolving dietary schedules, convenience foods such as instant noodles play a highly important role in defining the food choices of consumers in the modern landscape. This trend of consuming convenience food incepted in the Western part of the world, however, with time it spread to other regions globally.
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The market study conducted by the team of Market Research Future (MRFR) identifies consumers’ shifting inclination towards convenient food products that are available with ease and boasts nutritional value is set to accelerate the push of the global Instant Noodles market. Due to the fast-paced and busy modern lifestyle, consumers spend less time planning and cooking meals at their home. This is primarily because of the growing mindset that preparation of food at home to be a chore and to be both time and energy consuming. The ready-to-eat nature of instant noodles make it a primal choice among consumers, and this will drive the growth of the market as well in the forthcoming years. The market forecast of the global Instant Noodles market projects a CAGR of 5.59% during the review period of 2017 to 2023 with a calculated reach of USD 5,553.23 million. Famous Types of Instant Noodles is Ramen noodles.
Key Players
The market includes Prominent Players such as
- The Unilever Group (Pot Noodles) (U.K.),
- Nissin Foods Co., Ltd (Hong Kong),
- Campbell Soup Company (U.S.),
- Capital Foods Limited (India),
- Ajinomoto Co., Inc. (Japan)
- Nestle SA (Switzerland)
- ITC Limited (India),
Industry News:
September 2018, Mr. Lee’s Noodles, an all-new healthy gourmet instant noodle company, announced its introduction into the Australian snack and convenience food sector, with a clear intention of disrupting the market therein.
Feb 2019, The Kraft Heinz Company released an announcement stating that it is entering into a distribution partnership with Nissin Foods, the Japanese food company who made Cup Noodles and Top Ramen. The partnership will enable Heinz to distribute its vast pool of products to the Indian consumers.
Market Segmentation:
Instant Noodles Market is segmented on the following basis: packaging, distribution channel, and product type.
By Packaging: The market includes cups, packets, and others. Herein, among all the packaging segments, packet instant noodles hold the highest market share. The last few years have seen the packet instant noodles segment to grow significantly, and it is projected to continue its dominance in the market during the review period. However, cup instant noodles too are expected to expand at a rapid scale during the period.
By Distribution Channel: The market comprises store-based and non-store-based channels. The store-based market is the dominant of the two. However, distribution through non-store channels like e-commerce platforms is growing at a rapid scale as well.
By Product Type: The market includes chicken, seafood, vegetable, and others. The vegetable segment is believed to witness the highest growth among the mentioned lot during the forecast period.
Industry Segmentation:
As per the MRFR study, the global geographical segmentation of the Instant Noodles Market includes regions such as Asia-Pacific, Europe, North America, and Rest of the World (RoW).
The APAC region is the dominant of the lot and is projected to retain its dominance throughout the review period with a projected CAGR of 5.02%. High growth phase is expected in blossoming economies like India, China, Japan, and ASEAN countries. The study also reveals that Europe will go on to be the fastest region in the Instant Noodles market with a CAGR of 4.81%. The high rate of consumption of convenience and processed food products in growing economies like Latin America and APAC and booming demand for ready-to-eat food products in India and China will aid the market growth of the Instant Noodles market during the review period.
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Website: https://www.marketresearchfuture.com/reports/instant-noodles-market-1841