Instant Noodles Market Size, Share & Industry Analysis, By Type (Chicken, Vegetable, Sea Food, and Others), By Raw Material (Oats, Rice, Wheat, and Others), By Packaging (Bag and Cup), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2024-2032

The global instant noodles market size was valued at USD 57.73 billion in 2023 and is projected to grow from USD 61.08 billion in 2024 to USD 98.26 billion by 2032, exhibiting a CAGR of 6.12% during the forecast period. Asia Pacific dominated the instant noodles market with a market share of 85.81% in 2023. Moreover, the instant noodles market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 4.67 billion by 2032, driven by growing demand for convenience food and increasing number of Asian immigrants in the country.

Instant noodles originated in Japan in the 1950s, and today it is produced in over 90 countries worldwide. It has become one of the most internationally recognized food products that is consumed across several developing as well as developed countries. Convenience, taste, nutrition, and affordable price are major factors contributing to its increasing popularity among consumers.

The outbreak of COVID-19 and the resultant measures imposed by several governments have resulted in the strict closure of the market to implement social distancing. Consumers preferred home-cooked food and stocked essential food items at home in bulk, especially instant foods. The preference for home-cooked food is expected to remain high even in the post-pandemic period. According to Mr. Kiyotaka Ando, the CEO of Nissin Food Holdings Co. Ltd., the company registered a slight growth in its sales revenue and operating profit in the 1st quarter of 2020 compared to the previous years.

Instant Noodles Market Trends

Increasing Consumer Inclination toward Fortified and Healthier Products to Propel Market Growth

The negative health effects of nutrient deficiencies (malnutrition) have necessitated the consumers for healthy and nutritional food intake in their daily diet. According to the World Health Organization (WHO), more than 1.9 billion adults are obese while 462 million are underweight worldwide. Consumers seek innovative food products, which offer nutritional benefits along with the taste. Manufacturers have found the potential in the product to be an effective food vehicle to add vitamins, iron, calcium, and other nutrients. Moreover, the manufacturers emphasize launching gluten-free, air-fried, and sun-dried products, which are expected to aid the instant noodles market growth. In August 2021, Momofuku, a New York-based company, launched air-dried noodles in three flavors: spicy soy noodles, soy & scallion noodles, and tingly chili wavy noodles. Products are also manufactured in innovative designs to become environment-friendly and sustainable. For instance, in 2023, Nissin Foods launched a sustainable and newer paper design, the Cup noodles. The new package is made of 40% recycled fiber and 100% recycled paper and contains no plastic wrap and polystyrene.

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Instant Noodles Market Growth Factors

Growing Adoption of Convenient Food Products to Elevate the Market Growth

The hectic work schedule of individuals is surging the demand for ready-to-eat food products that are quick to prepare and consume. Therefore, convenient foods have become widely popular among consumers as they offer several benefits, such as instant appetizers, longer shelf-life, and wide availability in the global marketplace. Instant type of noodles are among the most popular snacks, which are gaining huge traction globally that will boost the global market revenue during the forecast period. Moreover, the global recession and inflation of food items have prompted several consumers to change their food consumption behaviors. Hence, the demand for affordable options, such as instant noodles, has increased in the past few years.  As per Nissiin, a major instant noodles manufacturer, consumers in the U.S. and Mexico have also started to incorporate instant noodles into their daily lives due to inflation. Therefore, to meet the growing demand and differentiate their products, manufacturers are improving their products by using innovative, nutritional and better-quality ingredients.

Increasing Middle-Class Population to Favor Growth

The product is gaining a significant and positive response among the consumers due to its high affordability and offerings of different flavors available across several supermarkets and hypermarkets. The increasing middle-class population in the world is one of the major growth pillars for the market growth as its price and availability of consumer packs fall under the affordable price range. For instance, according to the World Bank PovcalNet, in 2019, approximately 1.3 billion middle-class people were living globally, which was 439 million more than 2011.

RESTRAINING FACTORS

Increasing Prevalence of Diabetes and Obesity to Hamper Growth

Despite the taste and convenience offered by the product, it is observed that they are low in offerings of nutritional value to the consumers. It contains a high amount of fat and carbohydrates, which acts as a restraint, especially for the obese population. The rising awareness and health concerns among the consumers associated with obesity and diabetes have necessitated them to reduce their intake of such products. According to the National Center for Biotechnology Information (NCBI), its consumption is positively associated with obesity and cardio-metabolic syndrome, which is further impeding the overall consumption of the product in the global marketplace.

Instant Noodles Market Segmentation Analysis

By Type Analysis

Nutritional Value Combined with Exotic Flavors in Chicken Instant Noodles to Elevate Segment Growth

The market is fragmented into chicken, vegetable, sea food, and others and is positively influenced by the utilization of chicken during its manufacturing, owing to its taste offerings and affordability factor. According to the Food and Agriculture Organization of the United Nations (FAO), the demand for chicken products has risen dramatically in the last 30 years worldwide. Consumers are turning their attention toward effective health management, along with the delicious taste, wherein the chicken type is proving a more suitable food option with a great source of protein, carbohydrates, and others. Sea food is anticipated to be the fastest-growing segment in the global market due to increasing demand for nutritious foods paired with the often cheaper prices and availability of raw materials. Ongoing global market trends of natural and vegan are likely to boost the vegetable instant noodles globally, especially in Europe.  

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By Raw Material Analysis

Greater Digestibility Property to Lead Wheat Segment to Dominate the Market

The growth in wheat and wheat flour consumption in the global food sector has been boosted during the last few decades. The abundant availability of wheat flour across the supply chain, its digestive properties, and its richness in iron, calcium, vitamin, and other nutrients have encouraged consumers to consume wheat-based production in their daily diets. However, increasing awareness about the benefits of oats and rice among consumers will positively contribute to the overall global market's growth.

By Packaging Analysis

Flexibility of Cup Packaging to Multiply the Global Market Size

The cup packaging of the product has been around for decades, and it has become more popular among producers as a flexible packaging solution. As compared to bag packaging, cups are safer during transportation and storage. Furthermore, waterproof polyester material used in cup production allows the users to put the cups directly into the microwave during noodle preparation, which is more convenient. Such benefits are likely to drive the segment’s growth. 

By Distribution Channel Analysis

Supermarkets/Hypermarkets to Hold a Major Market Share due to its Offering of a One-stop Shopping Experience

The rapid emergence of mass merchandisers in developing markets, such as India, China, and other economies, enables higher sales momentum of the product worldwide. These giant retailers have expertise in offering several facilities, such as separate product shelves, informative product boards, and others, which offer a good shopping experience to the consumers under a single roof. However, the e-commerce boom has effectively provided tailwinds to online retail sales of food products.

REGIONAL INSIGHTS

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In regional instant noodles market analysis, the Asia Pacific market size stood at USD 49.54 billion in 2023. The region's market growth is driven by the huge consumer base and their increasing disposable incomes that allow them to spend on varied food items in the market. Consumers in the region are willing to spend more on convenient foods to prevent spending a lot of time on conventional cooking to save time and improve overall well-being. Instant noodles are one of the most consumable convenience foods. Their demand is increasing rapidly in highly populated countries such as China, Indonesia, and India in the region.

The consumption of the product in China has drastically increased owing to the investments and innovations by key players in the country. The growing working population, dynamic youth groups, and an increasing number of female working population are some of the major factors that are likely to boost the consumption of the product in the market.

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Instant noodles have emerged as an important snacking food in Europe due to shifting trends toward convenience and on-the-go products. The availability of ethnic flavors and the nutritional value of the flour pave a way for the market's growth in Europe. The fear of the global pandemic and increased sensitivity toward hygienic food have emerged as critical factors in determining the overall demand for processed and packaged food across Europe, creating a fair market potential for the product.

Although these noodles originated in Asia Pacific, it has become one of the most popular foods in North America and Europe. The U.S., Russia, and Germany are the major countries in these regions with immense potential to grow owing to the anticipated rapid growth of the convenience foods sector during the forecast period.

The increasing number of Asian immigrants in North America is also one of the driving factors. Seeking ethnic-flavored noodles from the migrant population from Asian countries are encouraging manufacturers based in North America to introduce new products with Asian ethnic flavors. According to the Migration Policy Institute (MPI) data, as of 2019, nearly 2.7 million Indian immigrants are situated in the U.S.

South America and the Middle East & Africa regions are anticipated to contribute considerably in the global instant noodles market share. The growing consumption of the product primarily drives the market due to its affordable low cost and taste across Brazil, Argentina, Nigeria, and South Africa.

List of Key Companies in Instant Noodles Market

Strong Product Portfolio of Key Companies to Help Strengthen their Market Position

Companies in the industry are increasingly launching products that will ease the adoption of noodles, thereby making it a more convenient snacking food option. The market faces cut-throat competition with the presence of several snack food industry rivals. The companies are also focusing on consumer preferences in the local markets and, based on it, are developing a large range of products to meet consumer demands.

The major brand in the world, Nissin Food Holdings, emphasizes meeting the ongoing market trends by releasing limited-edition products to grab consumer attention. For instance, in August 2021, Nissin Foods introduced a new limited-edition Pumpkin Spice flavor for its Cup Noodles brand in the U.S. According to the brand, the Cup Noodles Pumpkin Spice flavor is "saucy" rather than "soup-based." The pumpkin seasoning in the new product is blended with a sweet, savory, and spiced flavor profile. This is the first-ever limited-edition flavor launch by the company.

LIST OF KEY COMPANIES PROFILED:

• Nissin Food Holdings (Japan)


• Nestle S.A. (Switzerland)


• ITC Limited (India)


• Capital Foods Pvt. Ltd. (India)


• Ajinomoto Co. Inc. (Japan)


• Acecook Vietnam Joint Stock Company (Vietnam)


• The Campbell Soup Company (U.S.)


• Indofood Sukses Makmur Tbk (Indonesia)


• Toyo Suisan Kaisha Ltd. (Japan)


• Tat Hui Foods Pte Ltd. (Singapore)

KEY INDUSTRY DEVELOPMENTS:

• November 2023: Janes noodle manufacturer Ishimaru launched vegetarian dry noodles for Indian consumers. The ‘made in Japan for India’ dry noodle range is available in two varieties, namely Udon noodles and Ramen noodles.


• August 2023: Nissin Foods US launched chilli-infused noodles through its New brand GEKI for U.S. consumers. The product is available in major offline and online stores across the country.


• March 2023: New noodle Indian start-up brand Yu launched instant Hakka noodles and instant meal bowls. The startup, which was launched in 2021, expanded its presence in the instant noodle category to attract a growing consumer base. 


• February 2021: Marico Limited, an Indian multinational consumer goods manufacturer, entered the instant noodles space by launching "Saffola Oodles." The company initially offered these products through e-commerce platforms, including Saffola Stores, Amazon, Flipkart, BigBasket, and Grofers across India.


• September 2020: CG Foods, a Nepal-based instant noodles manufacturing company, invested nearly USD 16.93 million for production capacity expansion in India. The company has its production plants in Guwahati, Ajmer, and Andhra Pradesh.

REPORT COVERAGE

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The market research report includes quantitative and qualitative insights into the global market. This report also offers a complete analysis of the market forecast, size, and growth rates for all possible market segments. Several key insights mentioned in the report are an overview of the parent market, competitive landscape, trends, recent industry developments such as base expansion and the regulatory scenario in critical countries.

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