Noodles Market is expected to grow with a CAGR 3.5% from 2022 to 2028
As stated in our extensive report; providing insights on Type, and Distribution Channel; the Global Noodles Market accounted for USD 16.5 Billlion in 2021.
Growing Adoption of Convenient Food Products over Traditional Food
In this modern world, the people and attracting more to convenient food products over traditional food. This is owing to their busy lifestyle, hectic work schedule, and availability of several convenient food products as alternatives. Additionally, the presence of several options among flavors, brands, and raw materials is further contributing to increasing the adoption of noodles. Moreover, the easy-to-make procedure, instant preparation, longer shelf-life, and wider availability in the global marketplace are some other factors increasing the demand for noodles.
Some of the popular brands among noodles are, Indofood, Nissin, Nestlé, Uni-President Enterprises, Toyo Suisan, Ajinomoto Co., and The Unilever Group. Additionally, increasing Fast food adoption among the population is further propelling the market growth. The surge in a number of distribution channels such as supermarkets and hypermarkets, convenience stores, specialist retailers, online stores, and others is increasing the demand for noodles. In addition, the mounting number of restaurants, hotels, and street food courts is further boosting the demand for noodles. Ultimately driving the market growth over the forecast period.
Furthermore, the affordable price of noodles and several types and flavors such as cup noodles, fried noodles, frozen noodles, instant noodles, rice noodles, egg noodles, others that are available across several supermarkets and hypermarkets is further contributing to the market growth over the forecast period. According to a research paper published under the Global Economy and Development Program, in 2016, the middle-class population was around 3.2 billion which was 500 million more than the previous year and is expected to increase by the year 2020 across the world. Thus, it is anticipated to drive the Noodles market growth over the forecast period.
Asia Pacific holds the major share in the market owing to the presence of evolving economies. Thus, providing a large base of consumers in the region offers a lucrative opportunity for the market. Hence, contributing the market growth.
Some of the key players in the Global Noodles Market include Uni-President, Beltek Foods, Nestle, Mandarin Noodle, Sanyo Foods, Master Kong Maruchan, Nissin Foods, Indofood, Nong Shim and others.
Browse the full Report - Noodles Market Size, Share & Trends Analysis Report by Type (Cup Noodles, Fried Noodles, Frozen Noodles, Instant Noodles), by Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Stores), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)