INSTANT NOODLES MARKET ANALYSIS

Instant Noodles MarketSize and Trends

Market Outlook

• Global instant noodles market is expected to record significant growth over the forecast period, owing to rising urbanization, increasing number of working women, and changing lifestyle of people. According to The World Bank Statistics published, the rate of female labor force of total labor force increased from 38.9% in 2012 to 39.0% in 2018, globally.
• Furthermore, demand for instant noodles is increasing, owing to hectic lifestyle of the population, resulting in shifting preferences towards convenience food. Rising disposable income of the population coupled with inclination towards convenience food such as noodles is expected to increase demand for instant noodles over the forecast period (2019–2027). According to Trading Economics, the aggregate personal disposable income in the U.S. increased from US$ 14,000 billion in 2016 to US$ 16,500 billion in September 2019.
• On the basis of product type, the global instant noodles market is segmented into fried and non-fried noodles. In 2018, fried instant noodles segment held the dominant share in the global market. On the contrary, non-fried noodles are projected to record fastest growth over the forecast period, owing to lower fat content. Non-fried noodles contain one-fourth of fat (4-6g/ 100 g) when compared with dried noodles, which contains around 20g of fat. Increasing diseases associated with high consumption of fats such as high-blood pressure, osteoporosis, and heart diseases is shifting consumer preferences towards healthy eating, resulting in high demand for non-fried noodles in the near future.
• Based on distribution channel, in 2018, hypermarkets and supermarkets segments together accounted for the largest market share in terms of revenue in the global instant noodles market, attributing to availability of large variety of products and offers on various brands in hypermarkets and supermarkets.
• Innovation in products and value-addition in packaging, and entry of new players are some more factors expected to aid in growth of the market. Furthermore, launch of new flavors such as classic masala and chicken flavor, Indo-Chinese, Tomato, and others, by several companies including Nestlé is contributing to higher demand for instant noodles in the near future.