India Instant Noodles Market - Growth, Trends, and Forecasts (2018 - 2023)
India Instant Noodles Market Insights
The Indian instant noodles market was valued at USD 1438.04 million in 2017 is expected to register a CAGR of 5.6 % during the forecast period (2018 - 2023). This growth can be attributed to the increasing youth population, increasing disposable income, higher brand consciousness, and changing consumer preferences.
Consumers Looking for Healthier and Flavor Variants Instant Noodles Products
The increasing health consciousness among Indian consumers have shifted the focus of instant noodles from convenience to health. The increasing influence of social media have empowered consumers to demand healthier versions of instant noodles. The instant noodles companies have identified untapped potential by providing deeper distribution and effective product accessibility by expanding distribution to semi-urban and rural markets. Introduction of new type of instant noodles across flavors and types such as Amritsari Achari, Mumbaiya Chatak, Super Chennai, Atta Noodles and Bengali Jhaal, amongst others have influenced the growth of the instant noodles in India over the recent past. The exposure of Indian consumers to global cuisines is widening. The Indian instant noodles industry is set to experience substantial innovation, both in terms of ingredients formulation and packaging aspects, in the years to come.
Cup/Bowl Noodles to Register Highest Growth rate of 5.8%
Nissin sparked an instant food culture in 1971, with the introduction of cup noodles. It gained acceptance and achieved huge popularity, which can be observed by the launch of similar products from market leaders, such as Nestle SA, CG Foods India Pvt. Ltd, among others. Cup noodles takes less time to prepare, offers good taste, and can be eaten straight from the packaging as compared to packet noodles which has facilitated the growth of the category. Consumer preferences for on-the-go consumption foods owing to busy lifestyles have fuelled the growth of India instant noodles market over the past few years.
The traditional grocery stores accounted for the dominant market share of about 60% in 2017 and is expected to register a CAGR of 5.5% during the forecast period. By distribution channel, the market is divided into hypermarket/supermarket, traditional grocery stores, online retailing and others. The online sales account for a significant share mainly due to the increase in online channels such as PepperTap and BigBasket.
India Instant Noodles Market Competitive Landscape
New product launches, market expansion, partnerships, acquisitions are the preferred strategic approaches adopted by most companies involved in India instant noodles market. Some of the prominent players in the India instant noodles market include Nestle S.A., ITC, CG Foods India Pvt. Ltd. and Capital Foods Pvt. Ltd.
In 2016, Patanajali Ayurved planned to set up six manufacturing plants for Patanjali atta noodles, in addition to the unit based in Haridwar, to cater to the increasing demand.
In 2016, Nestle India announced the pan-India launch of two new Maggi variants - ‘Maggi No Onion No Garlic Masala’ and ‘Maggi Hot Heads’. The company also re-launched its cup noodles range and introduced a new variant - ‘Maggi Hot Heads Cuppa’.
Reasons to Purchase India Instant Noodles Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel.
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