Instant Noodles Industry in Japan: Analysis of Growth, Trends and Forecast (2017 - 2022)
Japan is the inventor of instant noodles. In 1958, Momofuku Ando of Japan invented instant noodles. His achievement has brought a revolution in food industry and now each and every country has its own instant noodles company. In 1971, he developed 1st cup noodles, which is still in nascent stage in most of the countries. Another achievement of Momofuku Ando was developing Space Ram, which can be consumed in space. Space Ram is carried in space by Japanese astronaut Soichi Noguchi aboard the Space Shuttle Discovery in July 2005. Instant noodles is speeded to China, Taiwan, Malaysia, Singapore and Hong Kong in just 5 years of its invention. Currently, 90 countries around the globe manufactures instant noodles and consumed by all the nations. Japan is the 3rd largest consumer of instant noodles in the world. Japan sold 5.5 billion instant noodles units in 2014 increased from 5.29 billion units in 2010. Global demand of instant noodles reached 102.75 billion units in 2014 making Japan contribution above 5.4% of world’s consumption.
“WINA” (World Instant Noodles Association) headquartered in Japan, is constantly trying to increase the reach of instant noodles throughout the world. WINA helped many countries like China, India, Philippines, USA, Austria, Switzerland, Slovakia, Germany, Czech, Hungary, Poland, Thailand, Japan, Brazil, Myanmar and many more in times of disaster by sending them instant noodles in disaster effected regions. Apart from WINA, Japan also has a CUP Noodles Museum (Momofuku Ando Instant Ramen Museum) located at Yokohama, Japan which has a theater, Chicken Ramen factory, Cup noodles Park and Noodles Bazaar World Noodles Road.
Instant Noodles market matured in Japan over the years and is divided into many players. Nissin foods, Toyo Suisan and Sanyo foods are the biggest market player in Japan. For a company without a good distribution network and brand awareness, it will be difficult to compete in Japanese Instant noodles market. Nissin foods is also one of the major brands in Japan and have strong manufacturing facilities in the country. Nissin foods is exporting China made instant noodles to Hong Kong, Japan and USA. Japan is a developed and highly urbanized country with 91% urban population.
Growing youth segment and increasing working population, rising incomes and rising purchasing power, higher brand consciousness, changing consumer preference, growing urbanization and Increase in number of middle class population are the biggest drivers in the growth of Instant Noodles industry of Japan. Also, lack of time, fast paced life and changing food preferences are also helping Instant Noodles sector to grow in Japan.
Instant Noodles Industry in Japan unlike other developed economies is matured in nature and is largely controlled by few Cooperatives and Independent Instant Noodles companies. Supermarkets and e-commerce websites play an important role in the Instant Noodles industry of Japan as most of the population does their shopping here. A large population in Japan likes to live in exile kind of conditions and find it hard to be social. These people are using e-commerce websites for their basic needs. Thus, e-commerce became a major source of instant noodles selling point of place. There are many brands available in Japan and the market is still open for any new entry with smart product.
What the report offers
The study elucidates the situation of Japan and predicts the growth of its Instant Noodles Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Instant Noodles Sector of Japan. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector.