According to IMARC Group’s latest report, titled “Instant Noodles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 47.08 Billion in 2020. Instant noodles represent pre-cooked and dried food items that are prepared using wheat flour, palm oil, water, salt, etc. Several additional ingredients, including starch, edible oil, gluten, guar gum, etc., are also added to the dough in smaller quantities. Instant noodles are typically accompanied by a small sachet containing the tastemaker. They are widely consumed across countries, on account of their portability, ease of making, cost-effectiveness, etc.
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The escalating demand for affordable and ready-to-eat (RTE) meals that require minimal cooking time, owing to the elevating levels of urbanization and the hectic work schedules of individuals, is primarily driving the instant noodles market. Besides this, the growing inclination towards on-the-go snacking options is further catalyzing the market growth. Additionally, the introduction of vegetarian and non-vegetarian product variants by key manufacturers in a broad range of unique flavors, colors, textures, seasonings, etc., to expand their customer base is acting as another significant growth-inducing factor. Apart from this, the rising investments in R&D activities aimed at developing convenient and attractive packaging solutions are also augmenting the global market. Furthermore, the expanding organized food retail sector and the increasing number of departmental stores, convenience stores, hypermarkets, supermarkets, etc., are anticipated to fuel the instant noodles market over the forecasted period. Looking forward, the instant noodles market is expected to grow at a CAGR of 5% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Master Kong (Shenyang) Instant Noodle Foodstuff Co., Ltd.
- Hebei Hualong Food Group
- Indofood Sukses Makmur
- Nissin Foods
- Acecook Vietnam Joint Stock Company
Breakup by Type:
Breakup by Distribution Channel:
- Specialty Stores
- Convenience Stores
- Online Stores
- United States
- Republic of Korea
- Saudi Arabia
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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