(MENAFN- America News Hour) Instant noodles are made from wheat flour, starch, water, salt or (an alkaline salt mixture of sodium carbonate, potassium carbonate, and sodium phosphate), and other texture & flavor enhancer of noodles. Other flours are sometimes mixed with wheat flour to make fortified instant noodles; for example, buckwheat flour is added at 10-40% of wheat flour in the production of buckwheat noodles. The popular noodles include instant Chinese noodles, instant Japanese noodles, and instant European style noodles, which vary in the basic ingredients used to make the noodles.
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Instant noodles have become one of the world's most popular food items owing to its versatility and convenience. This product is one of the first ready-to-eat foods launched widely in the global food industry and now it has successfully become an important part of modern lifestyle. The present day instant noodles symbolizes convenience, quality and health. Instant noodles market has undergone many innovations in recent years which have led to the introduction of multiple flavors of the product in the market suiting to local preferences. With widespread acceptance of the product, instant noodle has become a daily product in majority of the nations across the globe. Demand for the product is driven by convenience, low cost and product variety. However heath concerns related to consumption of instant noodles on a regular basis does pose challenge to its demand. So, the manufacturers focused on R & D, so as to come up with nutritional product line of this ready to eat food. The major trends observed in the global instant noodles market are product innovation; focus on nutritional value of product and instant marketing of instant noodles.
China accounts for highest percentage share in terms of export of Instant noodles. Demand of China instant noodles was 41,980 Billion packs servings in 2010 which is increased to 43,979 Billion packs servings in 2014. However, Global demand of instant noodles reached 102.75 billion units in 2014 making China contribution above 43% of world's consumption. Chinese Instant noodles market witnessed a high growth from US$ 8.4 billion in 2008 to US$ 14.5 billion in 2015. Recognising the country's great potential for sustained growth and global leadership in the industry, the Chinese government is sparing no expense to put companies and innovation on the map. This support from the Chinese Government has boosted the production & processing of Instant noodles. APAC dominates the Global Instant Noodles Market due to rising demand for convenience packaged food and rising demand for instant noodles. However, North America region will witness the fastest market growth due to globalization and rising women working class population in the region.
Key Players
The leading market players in the global instant noodles market primarily are Nestle SA (Switzerland), Ajinomoto Co., Inc. (Japan), The Unilever Group (Pot Noodles) (U.K.), Campbell Soup Company (U.S.), Nissin Foods Co., Ltd (Hong Kong), Capital Foods Limited (India), ITC Limited (India).
Study Objectives of instant noodles Market Forecast to 2023
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• Detailed analysis for individual micro and macro markets for instant noodles
• To estimate market size by Packaging, Broth, Source and Region
• To understand the supply and demand dynamics of instant noodles
• Company profiling of major players & competitive positioning for the instant noodles market
• Value chain analysis and supply chain analysis of instant noodles
• Analysis of historical market trends, and technologies, and current government regulatory requirements related to instant noodles market
Target Audience
• Instant noodles manufacturers
• Food Service industries
• Retailers and wholesalers
• Traders, importers and exporters
Key Findings
• The emergence of instant noodles has added a new dimension to consumers' meals; noodles are being consumed not just by kids (who are the core target audience) as an evening snack or a 'tiffin' meal but by consumers across all age groups, as an eating option beyond the 'mundane' ones. While it continues to be a home snack, it is also increasingly being consumed at workplace, colleges, etc. Geographically too, the appetite for instant noodles is growing with players now eyeing the semi-urban and rural markets. The category's penetration is low in India (~20-25%), thus presenting a lucrative opportunity for growth.
• Players present in the space are innovating and adding value to establish a unique brand proposition in the consumers' mind. Some of the major developments in this direction include: o Introduction of new flavors. To kindle the consumer's interest in the category and also cater to the diverse and changing tastes of the consumer, instant noodles brands constantly enhance their product offerings by adding new flavors. In addition to the classic Masala and Chicken flavors, a wide range of flavors including Indo-Chinese, Chinese, tomato, etc. have been launched.
Regional and Country Analysis of instant noodles market development and demand Forecast to 2023 Market
As per the MRFR analysis, global instant noodles market has witnessed significant growth in recent years and Volume is projected to reach 133.14 Billion packs, and will grow at a CAGR of 5% by 2023. However, global instant noodles market value will grow at a CAGR of 5.18%. APAC dominates the market and accounted value of 49.35 Billion packs in 2017, however Volume is estimated to reach 66.17 Billion packs by 2023 and will grow at a CAGR of 5.02 % CAGR. Moreover, Europe is projected to grow at a highest CAGR of 5.59 %, Volume will reach 66.17 Billion packs.
The reports also cover country level analysis:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Rest of Europe
• Asia – Pacific
o China
o India
o Japan
o Indonesia
o Rest of Asia Pacific
• RoW
o Latin America
o Middle East
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