The new report by Expert Market Research titled, ‘Global Instant Noodles Market Size, Share, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global instant noodles market, assessing the market based on its segments like types, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
1. Historical Market Size (2019): USD 44.5 Billion
2. Forecast CAGR (2020-2025): 5.2%
3. Forecast Market Size (2025): USD 60.3 Billion
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The growing urbanisation and rising disposable incomes have altered consumers’ eating habits, leading to a higher consumption of convenient and fast-foods, which has aided the market for instant noodles. The working population now increasingly prefers affordable and quick meals, such as instant noodles, which require minimal cooking. This change in their eating habits has created an excellent opportunity for the instant noodles market to thrive. The growth of the organized food retail sector, with a growing number of departmental stores, hypermarkets, supermarkets, and convenience stores worldwide, is expected to propel market growth further.
Instant noodles are available in vegetarian and non-vegetarian variations, along with a wide range of flavours, which positively impacts the market growth. The manufacturers are also formulating new flavours, colours, textures, and seasonings/tastemakers according to regional tastes and preferences to broaden their consumer base, thus, furthering the market growth.
Industry Definition and Major Segments
Instant noodles are dried blocks of noodles that are placed with a tastemaker. It mostly comes in two types of packaging – cups and packets. They are made from wheat flour, starch, salt, and palm oil. The tastemaker usually contains monosodium glutamate, sugar, salt, and other seasonings.
Based on type, the market is divided into:
1. Fried
2. Non-Fried
By distribution channels, the market is segmented into:
1. Supermarkets and Hypermarkets
2. Specialist Stores
3. Convenience Stores
4. Online Stores
5. Others
The regional markets for Instant noodle include:
1. Asia Pacific
2. North America
3. Europe
4. Latin America
5. Middle East and Africa
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Market Trends
The growing health-conscious consumers are seeking healthier and innovative food products, such as noodles containing dried vegetables, and noodles made up of rice or oats, and other products. These noodles offer nutritional benefits, along with the taste. The manufacturers have found the potential in these noodles to be fortified with vitamin, iron, calcium, and other nutrients. Major manufacturers are also launching innovative and healthy products in the market, such as gluten-free air-fried, sun-dried, and others. The raw noodles are naturally sun-dried or dehydrated using air drying technology to keep them healthier than the traditional method of frying. Thus, the rising demand for fortified and innovative noodles is expected to aid the overall instant noodles market.
Key Market Players
The major players in the market are Nestlé S.A., Nissin Foods, Unilever Plc, ITC Limited, and Ajinomoto Poland Sp. Z O.O, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Also Read COVID-19 Impact on Saudi Arabia Instant Noodles Market@ https://www.expertmarketresearch.com/reports/saudi-arabia-instant-noodles-market-report
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