Market Size – USD 49.88 Billion in 2021, Market Growth - CAGR of 8.78%, Market Trends –the increasing demand from electronics industry is widening the scope for Instant Noodles Market.
According to the current analysis of Introspective Market Research, the global Instant Noodles market was valued at USD 49.88 Billion in 2021 and is expected to reach USD 89.87 Billion by the year 2028, at a CAGR of 8.78%.
Instant Noodles are ready-to-cook noodles in numerous varied flavors and with various nutritional and healthy ingredients, such as vegetables, wheat flour, meat, pork, beef, and seafood. They are either available in cup/bowl or packets. Moreover, the availability of packet instant noodles is in different pack size, including single pack, four pack, and six pack is increasing the rate of the market size
Owing to hectic corporate lifestyles, customers are looking for convenience and healthy ‘to-go’ foods. However, increasing per capita income and the standardization of the customers followed by their growing demand for ready-to-cook products which require minimal time is expected to drive the global instant noodles market in coming years. Moreover, fortified instant noodles are expected to attract the health-conscious population which will have a positive impact on market growth.
In terms of region, the global Instant Noodles market can be divided into North America, Europe, MEA, Asia Pacific, and Latin America. Currently, North America is dominating the market, followed by Asia-Pacific. North America is expected to hold a dominant share of the Instant Noodles market during the forecast period. The market in North America is expected to expand significantly due to a surge in spending on healthy and customized food by companies in the U.S. Europe is also anticipated to offer large amount of growth opportunities to key industry players in the Instant Noodles market in the few years. This is due to the sudden emergence in the number of organizations and from the customers with the corporate lifestyles in the region. South Korea, India, China, Singapore, and Australia are major countries developing the growth of the market, due to an investment in technology by companies in the region. Expansion in the retail and online industries and in hotels in Latin America and Middle East & Africa is expected to drive the Instant Noodles market in these regions.
Further Key Findings From The Report Suggest:
- Instant Noodles Market have a rising demand for its low cost and high demand for the products and the materials.
- Additionally, the market share and value owing to the research and development in of healthy and instant food with different variety is on the rise, particularly for the Asia-Pacific region.
- Additionally, the market share and value owing to the large market observed in China and Japan are increasing.
- Extensive need for the consumable products and the high demand from the consumers for the various noodles variety in India has promoted the development of Instant Noodles market.
- China has emerged as a major producer of Instant Noodles and houses the largest production capacity for the product.
- The growth in end use industries, the economic and industrial growth in developing regions of the globe, are expected to drive the growth of global Instant Noodles market over the forecast period.
Key participants includes Unilever PLC (UK), Nestlé S.A. (Switzerland), Campbell Soup Company (US), Ajinomoto Co., Inc. (Japan), Nissin Foods Co., Ltd (Hong Kong), ITC Limited (India), Capital Foods Limited (India), Tat Hui Foods Pte. Ltd. (Singapore), Acecook Vietnam Joint Stock Company (Vietnam), and PT Indofood Sukses Makmur Tbk.
For this report, Introspective Market Research have segmented the Instant Noodles Markets market on the basis Product type (Cup/Bowl and Packet), by Distribution Channel (Supermarket/Hypermarket, Traditional Grocery Stores, Online Retailing) and Others, End-Users and region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2021-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Malaysia
- Singapore
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
