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Instant Noodles Market Analysis

ID: MRFR//1309-CR | 114 Pages | Author: Harshita Gorade| February 2021

More and more people moving to different places has led to a greater desire for instant noodles with local and international flavors. To keep people interested in these noodles and provide a variety of tastes, the brands that make instant noodles are always working on making new flavors. They keep adding different tastes to their noodles.
The world is becoming more connected, and people are getting to know about and trying different cultures. This has made the demand for instant noodles with unique flavors from various regions go up. For example, in the United States, where about 6% of the population is Asian, young people want to try different flavors from Asian cultures like Chinese, Korean, Southeast Asian, and Vietnamese. This interest in diverse tastes has increased the demand for instant noodles with regional flavors in the market.
Think about the last time you craved something delicious to eat. Maybe you were in the mood for something with a special flavor, something that reminds you of a place you love or a culture you're curious about. Well, you're not alone! Many people around the world are on the lookout for new and exciting flavors, especially when it comes to instant noodles.
One reason for this is that more people are moving from one place to another. When people move to a new country or region, they often miss the tastes and flavors from their home. This has led to a higher demand for instant noodles with regional and ethnic flavors. In response to this craving for diverse tastes, companies that make instant noodles are constantly working on making their products more interesting. They keep adding new flavors to their lineup to keep people excited about instant noodles. For example, you can now find a wide range of flavors like Indo-Chinese, Chinese, and tomato, all aimed at providing a taste of different regions and cultures.
The world is also becoming more connected, and people are curious to try foods from different parts of the globe. This has led to an increase in the demand for instant noodles with unique regional flavors. Take the United States, for instance, where about 6% of the population is Asian. Young people, especially millennials, are looking for variety in their food choices. They want to explore flavors from Chinese, Korean, Southeast Asian, and Vietnamese cuisines. This curiosity and interest in different tastes have significantly contributed to the growing demand for instant noodles with regional flavors in the market.
In conclusion, people are not just looking for any instant noodles; they want noodles that bring them the flavors of different regions and cultures. The increasing movement of people around the world and the curiosity about diverse tastes have made instant noodles with regional and ethnic flavors a big hit. The constant addition of new and exciting flavors is making instant noodles more appealing to those who seek variety in their meals.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Product Type, Packet Size, Distribution Channel, and Region

Instant Noodles Market Overview

The Instant Noodles Market Size was valued at USD 74,197.4 million in 2021. The instant noodles industry is projected to grow from USD 78,033.41 Million in 2024 to USD 1,16,792.66 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.17% during the forecast period (2024 - 2030). The growing working population has increased the demand for convenience food products such as instant noodles, which is quite easy to cook within a short period, which is a vital factor boosting its market growth.

Instant Noodles Market Overview1

Instant Noodles Market Trends

  • Hectic Lifestyle and Increasing Demand for RTE (ready-to-eat) Products Skyrocketing the Instant Noodles Market

People's busy schedules at work are driving up demand for ready-to-eat foods that are easy to prepare and enjoy. Instant noodles have gained a lot of popularity, especially among the working class, teenagers, residents of hostels, bachelors, and those who share a room, among other groups. Because they provide a number of advantages, such as instant appetizers, a longer shelf life, and widespread availability in the worldwide market, easy meals have grown immensely popular among customers. Instant Noodles foods are used to shorten the time of meal preparation at home. Some Instant Noodles can be eaten immediately or after adding some water, heating, or thawing.

The majority of Instant Noodles take hardly more than 5 minutes to prepare. Before consumption, they are frequently prepared or packaged so that they may be swiftly and conveniently utilized whenever needed by thawing or heating the meal. It is a fact that Instant Noodles are designed to be inexpensive, delicious, and non-perishable. Instant noodles have grown in popularity since they may be offered as a fast snack or supper. According to the World Instant Noodles Association (WINA), the demand for Instant Noodles is increasing year or year as per the below data.

Instant Noodles Market Trends

Moreover, noodles have become one of the staple foods and are being consumed across the globe. Instant noodles have various properties such as convenience, flavor, taste, nutrition, long shelf life, reasonable price, and safety making them popular among consumers. In addition, convenience food products have become more popular primarily among the working population, children, and teenagers. Convenience food products take very less time hardly 5 minutes in preparation and are easy to cook at home. Some of the convenient food products can be consumed directly or after heating, thawing, and by simply adding some water. They are generally packaged or prepared before consumption and can be used easily and quickly at any place or time. Instant noodles have become extremely well known because they can be served as a fast meal or snack. Moreover, it can also offer a few phenomenal advantages, including, less time in the kitchen or arranging dinners, and less time in preparation. These are the factors associated with instant noodles driving the growth of the instant noodles market revenue.

Instant Noodles Market Segment Insights

Instant Noodles Product Type Insights

The instant noodles market segmentation, based on product type, includes cups/bowls, and packets. The packet noodles segment held the majority share in 2021 contributing to around ~60-65% of the instant noodles market revenue.

Instant noodles in packet form are specially made available for relatively higher quantities and are available in more SKUs like the single pack, double pack, triple pack, etc. The packet instant noodles are used when there’s a need for high quantities in Hotels, Restaurants, households, and in-home cooking.

September 2022: Nissin Foods develops brand-new "Super Combination Series" Cup Noodles that combine two diverse flavors to produce an entirely new Cup Noodle

November 2020: Sunfeast Yippee- a brand of ITC launched a new category of instant noodles “Quik Mealz”.

Instant Noodles By Packet Size Insights

The instant noodles market segmentation, based on packet size, includes single-pack, four-pack, six-pack, and others. The single-pack segment led the market in 2021 and is estimated to be the most lucrative segment during the forecast period, 2022-2030. Singe Pack instant noodles are those packets with one noodle cake accompanied by a single seasoning packet, this segment of instant noodles cake is highly popular among teenagers and hostellers’ solution for a quick meal, that in turn pushes the growth.

Instant Noodles By Distribution Channel Insights

The instant noodles market data has been bifurcated by distribution channels into store-based, and non-store based. The store-based segment dominated the market in 2021 and is likely to be the key segment during the forecast period, 2022-2030. A store-Based distribution channel is defined as brick-and-mortar retail stores like supermarkets & hypermarkets, Convenience stores, and others. The increasing interest in consuming different flavors and different brands contributes to increasing footfall in the segment which provides a wide assortment of noodles packets, giving an impetus to sales.

February 2022: The new product from Indo Food features the distinctive flavors of West Sumatra, this variation mixes crispy round noodles, a mix of spices, and hot Ayame Pop sauce. This launch has further increased the prospects for the instant noodles industry.

July 2021: Campbell Soup Company introduced Chunky Spicy Chicken Noodle Soup, With this release of the new Chunky Spicy Chicken Noodle Soup, Campbell's adds spicy heat to their best-selling Chunky Classic Chicken Noodle Soup.

Figure 1: Instant Noodles Market, by Distribution Channel, 2021 & 2030 (USD Million)Instant Noodles Market, by Distribution Channel, 2021 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, in comparison to store-based distribution channels, the growing awareness among consumers regarding the benefits associated with online channel purchasing coupled with the hectic schedule of the working population is expected to increase the overall sales of instant noodles. For example, customers get access to shopping from anywhere with ease and convenience at the click of a button. These are the features anticipated to uplift the segmental growth during the forecast years.

Instant Noodles Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific's instant noodles market accounted for USD 58,037.21 million in 2021 and is anticipated to grow with a CAGR of 5.36% by 2030. This is owing to the increasing demand for RTE food products in the region. The largest and fastest-growing region is Asia-Pacific. A huge consumer base and their increasing disposable incomes that allow them to spend on varied food items in the market are driving the region’s market growth. Consumers of the Asia-Pacific region are more likely to spend more on convenient foods to prevent spending a lot of time on conventional cooking to save time. One of the most economical and convenient meals is instant noodles. In the region's densely populated nations like China, Indonesia, and India, their demand is rising quickly.

After the investments and innovations by the key players in China, the consumption of instant noodles has drastically increased. The increasing female working population, growing working population, and dynamic youth groups are some of the major factors that are likely to boost the consumption of the product in the market. This is anticipated to drive the market over the foreseeable future.

Further, the major countries studied are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: INSTANT NOODLES MARKET SHARE BY REGION 2021 (%)INSTANT NOODLES MARKET SHARE BY REGION 2021Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America's instant noodles market holds the second-largest market share owing to the increasing deskbound lifestyle. Additionally, the U.S. instant noodles market held the largest market share, and the Mexico instant noodles market was the fastest growing market in the North American region.

From 2022 to 2030, Europe is anticipated to develop at a CAGR of 5.03%. The growing incidence of lifestyle-related health diseases, the ageing population, hectic daily schedules, rising mental stress, and a supportive attitude toward preventative measures are driving the need for healthy snacks in the local market. While the UK lays the greatest focus on convenience and health advantages, Germany is the largest market for organic and natural foods.

Instant Noodles Key Market Players & Competitive Insights

The major players operating in the instant noodles market are focusing on improving their product portfolio which is anticipated to support the instant noodles market. The key players are also concentrating on various initiatives to increase their footprints, such as the introduction of new products, mergers, acquisitions, contractual agreements, collaboration, and increased investments with other small enterprises. Participants in the instant noodles market must provide less-expensive products to survive and grow in a highly competitive and soaring atmosphere.

The world's largest manufacturer of instant noodles is Indofood, the largest food processing firm in Indonesia. The business is a component of Sudono Salim's Salim Group, the largest conglomerate in Indonesia. The activities of Indofood are a total food solutions company, that covers all the phases of food production, including the creation of raw materials and their processing through the sale of consumer goods. It is highly known for being a reputable firm with a strong presence in each industry in which it competes. Additionally, they manufacture a wide variety of consumer-branded goods, such as noodles, dairy, snack foods, seasonings, special foods for nutrition, and beverages.

In Singapore, Nissin Foods (Asia) Pte Ltd. is founded in 1958. The business becomes a source of instant noodles for Indonesia, Singapore, Malaysia, Hong Kong, and other markets. The NISSIN FOODS Group explores diverse cuisine options and develops delicious different flavors that will make people dream. They benefit society and the environment by giving everyone the pleasures and delights that food can offer. Their manufacturing plants use automatic manufacturing lines at every stage, from the supply of flour to the packing of finished goods, to produce high volumes of high-quality food products.

Key Companies in the instant noodles market include

  • Indofood (Indonesia)

  • Nissin Food (Japan)

  • Nestle (Switzerland)

  • Ajinomoto (Japan)

  • ITC Ltd. (India)

  • Unilever (United Kingdom)

  • Campbell Soup (United States)

  • Capital Food (India)

  • Tat Hui Foods (Singapore)

  • Acecookvietnam (Vietnam)

Instant Noodles Industry Developments

October 2023- Unilever will fund around €20 million at its instant noodle factory in Poland as it seeks to raise production of Knorr, Amino noodles, and UNOX and fulfill increasing European demand for convenient meal options. On 2 October 2023, Unilever disclosed a €19.4 million investment at its instant noodle factory in Poznan, Poland. The soup-to-soap producer said this would guarantee it was prepped to fulfill an enhanced demand for instant noodles, thanks to completely automated lines that would boost noodle production and efficiency. As per the statement released by Unilever, convenient and affordable instant noodles have effectively made the jump from specialty restaurant treats to an at-home staple in recent years throughout Europe. Initially established in post-war Japan as a quick and easy meal for workers, instant noodles have thus been recognized as a deliberately crucial segment by multinational manufacturers. The nutrition lead for East Europe at Unilever, Michaela Franekova, said that noodles are one of the brand's priority classifications, with massive development capacity not only in Poland but also throughout Europe. She further said that the UK is at present the largest market in Western Europe, followed by Poland. Franekova added that the noodle market in Europe is still expanding dynamically, and as per the Euromonitor, further volume growth is forecast – 7% volume growth by 2027 in Eastern Europe, taking 2023 as the baseline, and 10.8% in Western Europe.

November 2023- Striking into India's fast-growing market for instant noodles, Japan's top noodle brand, Ishimaru, is ready to introduce its first 'made in Japan for India' vegetarian dry noodles range in the country. The two popular dried noodle types being primarily launched -Ramen noodles and Udon noodles- have been produced in Japan solely for the Indian market and are made of Japanese wheat.

April 2021: Indo Foods, launched a new flavor of instant noodles that has been introduced in 2021 which is the Supermi Nutrimi Chicken Steak flavor which is better for instant noodle lovers.

February 2021: ITC Ltd. launches SunFest Yippee! Saucy Masala- a Googly of Saucy Flavor in Yippee! with a unique red colored noodle block

Instant Noodles Market Segmentation

Instant Noodles Product Type Outlook

  • Cup/Bowl

  • Packet

Instant Noodles Packet Size Outlook

  • Single Pack

  • Four Pack

  • Six Pack

  • Others

Instant Noodles Distribution Channel Outlook

  • Store-Based

  • Non-Store Based

Instant Noodles Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • South America

    • Brazil

    • Argentina

    • Rest of South America

  • Middle East & Africa

    • GCC Countries

    • South Africa

    • Egypt

    • Rest of the Middle East & Africa

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