Instant Noodles Market to Surpass 81.84 Billion by 2030 Drives Due to the Rising Popularity and Appeal of Instant Noodles
SkyQuest projects that the instant noodles market will attain a value of USD 81.84 billion by 2030, with a CAGR of 5.95% over the forecast period (2023-2030). The global demand for instant noodles is expected to grow substantially in the forecast period. This can be attributed to several factors contributing to instant noodles' popularity and appeal among consumers worldwide. One key factor is the quality of ingredients used in instant noodles, such as dehydrated vegetables and animal-based proteins.
Westford, USA, June 22, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the shifting dynamics of urbanization and rising disposable incomes have profoundly impacted consumers' eating habits. As a result, there has been a perceptible shift towards convenient and quick meal options that align with the fast-paced lifestyles of the working population. Instant noodles have become popular among consumers owing to their affordability, ease of preparation, and minimal cooking requirements.
*Browse in-depth TOC on "Instant Noodles Market." *
· Pages - 232
· Tables - 63
· Figures – 75
Manufacturers in the instant noodles industry are constantly introducing new packaging formats to enhance convenience, portability, and shelf life. One prominent innovation is the introduction of microwavable cups and bowls, which revolutionized how instant noodles are prepared and consumed. These containers are specifically designed to withstand microwave heat, allowing consumers to cook the noodles directly in the packaging.
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*Prominent Players in Instant Noodles Market*
· Nissin Foods Holdings Co., Ltd.
· The Kraft Heinz Company
· Nestle S.A.
· Unilever Group
· Samyang Foods Co., Ltd.
· Indofood CBP Sukses Makmur Tbk PT
· Master Kong (Tingyi Cayman Islands Holding Corp.)
· Acecook Vietnam Joint Stock Company
· Ottogi Co., Ltd.
· Toyo Suisan Kaisha, Ltd.
· Ting Hsin International Group
· Jinmailang Foods Co., Ltd.
· Baijia Food Group Co., Ltd.
· Tat Hui Foods Pte Ltd.
· Nongshim Co., Ltd.
· CJ CheilJedang Corporation
· Mamee-Double Decker (M) Sdn Bhd
· Thai President Foods Public Company Limited
· Paldo Co., Ltd.
· Maruchan, Inc.
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*Chicken Segment is Expected to Grow the Market Due to the Rising Popularity of Chicken-Based Instant Noodles*
The chicken segment emerges as the dominant force within the industry. This trend is expected to continue throughout the forecast period as the popularity of chicken-based instant noodles remains widespread worldwide. The widespread adoption of chicken products can be attributed to several factors contributing to the expansion of the chicken segment.
The markets in Europe hold a significant share of the global market for instant noodles. Germany is experiencing a notable increase in individuals adopting a vegan lifestyle within the region. This shift in dietary preferences has influenced the country's demand for instant noodles with vegetable-based options.
*Cups Segment is Expected to Dominate the Market Due to Extending the Shelf Life of Instant Noodles*
The cups segment is prominent in the global instant noodles market, with its dominance driven by several key factors. One crucial factor is the role of cups in extending the shelf life of instant noodles and preserving their taste and flavor. The cups provide a protective barrier that helps prevent moisture, air, and other external factors from deteriorating the quality of the noodles over time.
Regional markets in the Asia-Pacific is the largest and fastest-growing region. The market for instant noodles in Asia Pacific results from the region's rising appetite for RTE foods. The region's market is growing as a result of a large consumer base and their increasing disposable incomes, which enable them to spend on a variety of food items on the market.
A comprehensive analysis of the major players in the instant noodles market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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*Key Developments in Instant Noodles Market*
· Recently, Symington's Naked brand of instant noodles delighted vegetarian and vegan consumers with the release of a pot trio featuring delectable Asian flavors. This new offering catered to the growing demand for plant-based options, providing a delicious and convenient choice for those following a meat-free lifestyle.
· Momofuku, a renowned Japanese restaurant chain, strategically decided to adapt to the changing landscape following the outbreak recently. As part of their revised business strategy, they introduced their "cleaner" instant noodles brand.
*Key Questions Answered in Instant Noodles Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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