Rice, Pasta and Noodles Industry
Description
As per Wise Guy Report, Pasta dishes have become a popular meal choice for many urban homes with the popularity of Italian and Mediterranean cuisine. Pasta innovation is slowly penetrating the Indian market, with some firms introducing dried flavored pasta. Instant noodles are made from the mixture of wheat flour, water, starch, salt and other flavor enhancer that has become indispensable in the urban kitchen with the rapidly changing lifestyle on the Indian market as instant noodles are easy to cook and save time. The industry is increasing very quickly due to the ease of preparing and comfort of instant noodles. Instant noodles are cooked, fried and dried so that they are different from other noodles.
As per the report, India is the fourth largest instant noodle market worldwide, according to the World Instant Noodles Association, and accounted for 5.4 billion servings in 2017. Consistent development and increasing acceptance of consumers have made this market a profitable choice for different players. A growing millennial population and growing working-class clients are driving the consumption of packaged food products in India, such as instant noodles. The businesses have also lately launched several products that distinguish fresh flavors, healthy ingredients, and packaging. In India, the consumption of instant noodles has increased considerably over the previous few years, depending on these variables.
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In India, instant noodles were first launched by Nestle in the mid 80s with the brand name Maggi. It became a household name in the category of instant noodles because of the company’s intelligent approach and simple cooking property of noodles. Overall noodle sales during 2015 were impacted by the ban on Maggi noodles. However, during 2018, the region has fully recovered and is now showing good development. Instant noodles in India are very common. Since the ban was lifted on Maggi, Nestlé has worked to restore consumer confidence by investing through multiple media in advertising operations.
Instant noodle market is segmented by packaging such as packages or cups. Packet noodles have the largest market share and during the forecast period are expected to dominate the market for instant noodles. In the near future, cup noodles can also expand their land. Segmentation is also based on broth including seafood, chicken, vegetables, and others. Over the forecast period, vegetable noodles will demonstrate greater growth rates. Similarly, store-based and non-store-based based on the distribution channel. The report covers consumption trends based on various categories.
As per the report, a big proportion of the population originates from the middle or lower middle class. Price sensitivity therefore plays an important role in hindering the development of the country-wide instant noodle sector. Most rural individuals are unaware of the different products available unless they see them in their local shop. The absence of a well-established distribution network therefore poses a challenge to India’s immediate noodle market. Different strategic plans are being embraced in India by multiple instant noodle businesses. New product development, market extension, partnership and acquisitions are part of the strategy.
LIST OF CONTENTS AND TABLES
Headlines
Prospects
Focus on Flavours and Promotion Boosts Noodles Sales
Pasta Becoming More and More Common in Indian Households
New Gst Supports Rice Value Sales
Competitive Landscape
Nestlé India Continues To Increase Sales Share in Noodles
Bambino Agro Industries Challenges International Brands in Pasta
Krbl Gains Sales Share in Rice
Continued…
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