Global Instant Noodles Market 2019-2023
Global Instant Noodles Market: About this market
Instant noodles are a staple food made from unleavened dough, which is extruded, stretched, or rolled flat and cut into different shapes. Technavio’s instant noodles market analysis considers sales from types including fried and non-fried. Our analysis also considers the sales of instant noodles in APAC, Europe, North America, South America, and MEA. In 2018, the fried segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising concerns about consuming high-fat foods will play a significant role in the fried segment to maintain its market position. Also, our global instant noodles market report looks at factors such as the increasing demand for regional and ethnic flavors, growing demand for convenient food products, and expansion in the retail landscape. However, fluctuating raw material prices, cross-contamination of raw materials and wrong labeling leading to product calls, and stringent regulations may hamper the growth of the instant noodles industry over the forecast period.
Global Instant Noodles Market: Overview
Growing demand for convenient food products
With an increase in a busy and hectic lifestyle, the number of working women, growing middle-class population, and rapid urbanization, the demand for convenient food products such as instant noodles is increasing. Vendors are introducing frozen instant noodles with enhanced shelf life, innovative packaging, low preparation time, and microwave cooking. This will lead to the expansion of the global instant noodles market at a CAGR of almost 5% during the forecast period.
New product launches
Both regional and international players are trying to gain a competitive edge over their competitors, expand their consumer base, and increase their revenue flow. This is encouraging them to develop and introduce new products in the market. This is resulting in increased availability of variants of packaged flavor noodles, which will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global instant noodles market during the forecast period 2019-2023, click here.
With the presence of several major players, the global instant noodles market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading instant noodles manufacturers, that include Nestlé SA, Nissin Foods Holdings Co. Ltd., PT INDOFOOD SUKSES MAKMUR Tbk, Tingyi (Cayman Islands) Holding Corp., and TOYO SUISAN KAISHA Ltd.
Also, the instant noodles market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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