Growing Use of E-commerce as a Distribution Channel to Drive Global Instant Noodles Market
Research Reports
Jan 30, 2022
Market Overview
Instant Noodles Market is anticipated to grow at a CAGR of 3.02% to accomplish USD 33,200.2 Million by 2023.
Market Dynamics
Due to their utility advantages, the increased propensity to eat convenience food products is expected to improve the existing demand dynamics for noodles over the review period. In the upcoming time, the prevalence of packaging formats that are easy to use for eating and storing noodles is expected to improve the overall demand for instant noodles. In addition, in the forecast timeframe, the introduction of fresh and creative flavors by industry giants is expected to promote the immediate market share of noodles. The clean-label food demand has increased dramatically, and this is expected to stimulate the demand for instant noodles in the coming period. In the coming period, however, the health issues associated with the increased consumption of noodles are likely to stimulate the global demand.
In an effort to minimize the effects of the virus, COVID-19 has created a panic situation among customers with immediate closures of retail stores. Consumer stockpiling has also led to tremendous pressure on major supermarkets & hypermarkets, grocery shops, and food manufacturers, which is quickly driving the transition to e-commerce.
While demand for instant noodles is expected to increase, issues such as supply chain disturbances, logistics, restricted raw material availability, and labor unavailability are expected to restrict the growth of the global market for instant noodles to some degree.
Request Free Sample Copy of Report with Detailed Impact Analysis of Covid-19:
https://www.marketresearchfuture.com/sample_request/1841
Segmental Analysis
By Product Type, the market comprises of packets, cups and others. The packet instant noodles segment is the principal segment, growing at a considerable CAGR to influence USD 21,440.7 million by the end of 2023. Due to its simplicity and gain of on-the-go feeding, the cup/bowl segment is predicted to witness the fastest 3.33 per cent CAGR during the forecast period.
By Pack Size, the market has been segmented into single pack, four pack, six pack, and others. The four-pack size is estimated to dominate the market segment, with the six and one pack segments following strongly.
By Distribution Channel, the market has been segmented into store-based and non-store based channels. The store-based channels are slated to witness robust development, and the non-store channels such as e-commerce are poised to grow at a fast pace in the forecast period.
Have Any Query? Connect with Our Research Expert 24*7:
https://www.marketresearchfuture.com/ask_for_schedule_call/1841
Competitive Landscape
The well-known companies in the Instant Noodles Market are Unilever PLC (U.K.), Nestlé S.A. Switzerland), Campbell Soup Company (U.S.), Ajinomoto Co., Inc. (Japan), Nissin Foods Co., Ltd (Hong Kong), ITC Limited (India), Capital Foods Limited (India), Tat Hui Foods Pte. Ltd. (Singapore), Acecook Vietnam Joint Stock Company (Vietnam) and PT Indofood Sukses Makmur Tbk (Indonesia).
Regional Analysis
The Asia Pacific recorded a chief market share of 82.15 percent in 2018 and is expected to rise over the forecast period at a 3.16 percent CAGR. China is one of the most active markets in the country, accounting for the main estimated market share in the forecast period. Instant noodle requirements are driven by massive populations, fast expansion, and cumulative demand for convenience foods.
By 2023, the European region is expected to reach USD 1,268.2 million. Due to the strong demand for Asian noodle flavors and the growing developments in convenience foods, Europe has a large market share.
Click Here to Read Full Summary of Report:
https://www.marketresearchfuture.com/reports/instant-noodles-market-1841
Industry Updates
January 2021: The originator of instant noodles, Nissin Foods, launched teriyaki chicken and spicy garlic chicken flavors from Cup Noodles Stir Fry. The first soupless cup for the iconic brand, the cup noodles stir fry product line-up, blends new creativity with undying Asian-inspired recipes in celebration of 50 years of innovation.
January 2021: A proposed initial public offering in Manila that could boost USD 1 billion was explored by Philippine food processor Monde Nissin Corp. Monde Nissin, which makes Lucky Me the best-selling Instant noodles in the Philippines and meat substitute Quorn in the United Kingdom have been deliberating proposals with prospective advisors for a first-time share offering. Deliberations are at an early stage on the prospective contract.
Jan 2021 Immi, a brand-new startup, brought balanced instant ramen to the soup game. In three spice types, the high-protein, low-carb instant ramen arrives and has a sampler pack first to test out the flavors. Such instant ramen packs are currently only available for online shopping, with plans to expand as demand picks up.
Jan 2021 Under the brand name MAGGI Paneer-ae-Magic, which promised to offer delicious paneer dishes in the comfort of your home, MAGGI announced the launch of an exciting range of new Paneer spice mixes on the Indian market. With these spice blends, Maggi has further strengthened its ‘cooking aids & solutions’ range. There are two delicious versions of the recent MAGGI Paneer-ae-Magic spice mixes available – Shahi Paneer & Kadhai Paneer.
Browse More Similar Reports Like:
Global Lactose Free Food Market – Forecast to 2027
Fast Food Market – Forecast to 2027
Seafood Market– Forecast to 2027
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets, and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Tags:
PR-Wirein, Wire, Research Newswire, English