From the period 2022 to 2028, the Global Noodles Market is expected to reach USD 20.2 Billlion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 3.40%.
People's hectic work schedules are driving the demand for ready-to-eat food products that are quick to prepare and consume without interfering with their daily routine. As a result, convenient food products have grown in popularity among consumers by providing numerous benefits such as instant appetizers, longer shelf-life, and greater availability in the global marketplace. This type of noodle is one of the most popular snacks among consumers, and it is gaining significant traction in the global market, which will aid growth during the forecast period. Instant Noodles are gaining popularity among consumers due to their low cost and availability in a variety of flavors at a variety of supermarkets and hypermarkets. The world's growing middle-class population is one of the major growth pillars for market growth, as the price and availability of consumer packs fall within an affordable price range. As a result, the market is expected to expand in the coming years.
Key Highlights from the Report
- On the basis of Type, the market is segmented into Cup Noodles , Fried Noodles , Frozen Noodles , Instant Noodles , Rice Noodles , Egg Noodles , Others. With it's convenience of handling and ready-to-eat nature, cup/bowl Noodles are rising in favor among customers. As the market's demand for it grows, the market's big players have begun to introduce it. It is also gaining popularity as a result of its convenient packaging and ease of preparation as compared to packet Noodles, as well as its excellent taste. The key drivers of the Indian instant Noodles Market are increased urbanization, busy schedules, and ease of consumption.
- On the basis of distribution channels, the market is segmented into Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Stores, and Others. Supermarkets/hypermarkets are the primary distribution outlets for instant Noodles in urban regions. People in metropolitan areas like to buy instant Noodles in addition to their regular shopping. The convenience of these supermarkets/hypermarkets is another important reason driving instant Noodles sales through this channel. Due to changing client tastes, market players introduce new varieties, and supermarkets ensure that all of these products are available to attract more customers. Only traditional food stores have a larger percentage of the distribution route than supermarkets/hypermarkets.
- Asia Pacific is the fastest regional segment in terms of growth. In 2021, Asia-Pacific (Noodles Market) held the largest share. This region's growth is due to an increase in the consumption of instant Noodles, as well as an increase in the region's population. The rising preference of consumers for ready-to-eat (RTE) products such as instant Noodles, combined with their hectic lifestyles, is driving the growth of the Noodles Market in this region. The presence of key players in the region, such as Master Kong in Tianjin, China, is further propelling the growth of the Asia-Pacific Noodles Market. This expansion is due to factors such as a consistent market for instant Noodles attributed to changing lifestyles and soaring demand from the Asia-Pacific region's low-income consumers.
Some of the key players in the Noodles Market include Uni-President, Beltek Foods, Nestle, Mandarin Noodle, Sanyo Foods, Master Kong Maruchan, Nissin Foods, Indofood, Nong Shim and others.
Technological Innovations in the Noodle Industry are Exploding
Instant Noodles has become a worldwide culinary sensation. Technological advancements are making life easier in the noodle industry. Employees can occasionally be inconvenient when times are tough, but only if they lack emotions, which most humans do. Culinary robots that work together to serve customers are used in Japan. These culinary robots are resolving massive problems. Culinary robots are actually two significantly large arms that carry out all of the necessary steps to prepare the orders of the customers with great accuracy. These two arms can prepare up to 80 bowls per day without tiring. It consists of a quiet kitchen area, a fast-food shop, and a manager's dream. As a result, the rapid technological advancements in the Noodles industry are fueling the Noodles Market.
Soaring Noodle Innovations and Organic Noodles
Instant Noodles is commonly regarded as a low-cost meal and a staple diet during college and adolescence. Possessing a collectible rare item like this while also supporting others through a charity is a fantastic deal. Organic instant Noodles and organic soap Noodles may be a growing customer preference in the midst of the COVID-19 pandemic. These types of skyrocketing innovations in Noodles and Organic Noodles are propelling the Noodles Market during the forecast period.
Due to shifting trends toward convenience and on-the-go products, instant Noodles has emerged as an important snacking food in Europe. The availability of ethnic flavors and the nutritional value of the flour pave the way for market growth in Europe. Fear of a global pandemic and increased sensitivity to hygienic food has emerged as a critical factor in determining overall demand for processed and packaged food across Europe, resulting in the fair market potential for the product. Some of the major factors that are likely to boost product consumption in the market are the growing working population, dynamic youth groups, and an increasing number of female working populations.