New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Instant Noodles Global Market Report 2023" - https://www.reportlinker.com/p06466481/?utm_source=GNW
Ltd., Acecook Vietnam Joint Stock Company, Nongshim Co. Ltd., PT Indofood Sukses Makmur Tbk, Decker Sdn Bhd, Kohlico Brands UK Ltd., Mamee Double Decker BHD, Aico Food Ltd., Samyang Corporation, Capital Foods Pvt. Ltd. and Toyo Suisan Kaisha Ltd.
The global instant noodles market is expected to grow from $52.73 billion in 2022 to $55.77 billion in 2023 at a compound annual growth rate (CAGR) of 5.76%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The instant noodles market is expected to reach $71.83 billion in 2027 at a CAGR of 6.53%.
The instant noodles market consists of sales of Cup/Bowl noodles, Packet noodles, ramen, udon, soba, and yakisoba.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Instant noodles are a type of noodle that is sold in a pre-cooked and dried block, often with added flavoring powder and seasoning oil.These noodles are typically made using wheat flour that has been finely ground and combined with a mixture of alkaline salts to give them their distinctive texture and flavor.
Instant noodles are used to reduce the cooking time of traditional noodles.
Asia-Pacific was the largest region in the instant noodles market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The two main types of instant noodles are fried and non-fried.Fried noodles refer to deep-fried strips of wonton wrappers and crispy, fried wonton noodles.
They are available in different packings such as packets and cups, and they are available in various distribution channels such as supermarkets and hypermarkets, specialty stores, convenience stores, online stores, and others.
The rising demand for ready-to-eat food products is expected to propel the growth of the instant noodles market in the coming future.Ready-to-eat (RTE) products refer to a class of food items that have been cleaned, cooked, and in most cases packaged before being made available for consumption.
These foods must be cooked to allow the lowest internal temperature to reach a minimum temperature for a minimum holding time during manufacturing to destroy microorganisms that pose a threat to public health.Foods in this category typically contain raw materials of animal origin, such as eggs, fish, meat, poultry, and ratites.
For instance, in July 2022, according to a report published by the Food and Drink Federation, a UK-based organization that represents and consults food and drink manufacturers, the processed food and drink industry had a turnover of £105bn in 2020 and a turnover of £112bn in 2021, it has increased by 3.4% since 2020, and accounting for 20% of the total UK manufacturing. Additionally, in March 2021, according to Statistics Canada and farm credit Canada (FCC) says that food and beverage manufacturing sales increased 3.5% year-over-year (YoY) in 2020 from $118.7 billion to $122.9 billion. Therefore the rising demand for ready-to-eat food products will drive the demand for the instant noodles market.
Product innovation is the key trend gaining popularity in the instant noodles market.Major companies operating in the instant noodles market are focused on developing innovative products to strengthen their position in the market.
For instance, in April 2022, Yu Foodlabs, India based instant meal bowls food brand, launched two signature instant noodle bowls with unique and appetizing flavors, Zingy Cheese and Chilli Manchurian. Zingy Cheese noodles are made with cheddar cheese, spring onions, and corn kernels. that provides 100% natural, ready-to-eat cup noodles that require only 5 minutes to prepare by simply adding hot water and containing no preservatives or artificial additives. Manchurian sauce perfectly complements the noodles and vegetables. Both flavors are inspired by the aesthetics of Indo-Chine cuisine, the latest offerings are free from preservatives and are provided at affordable prices.
In September 2021, Nissin Food Products Co. and IRI Corp., a US-based solutions and services provider for consumer, retail, and media organizations, have partnered to accelerate growth via innovation and premiumization. This partnership will boost Nissin’s constant growth through creative product introductions and growing sales and purchase frequency at three- to six-times the broader Instant Noodle category performance over the previous year. Nissin Food Products Co. is a US-based food and beverage manufacturing firm, that develops and offers convenience foods and instant noodles that consumers may purchase directly through a web browser or a mobile app.
The countries covered in the instant noodles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The instant noodles market research report is one of a series of new reports that provides instant noodles market statistics, including instant noodles industry global market size, regional shares, competitors with an instant noodles market share, detailed instant noodles market segments, market trends and opportunities, and any further data you may need to thrive in the instant noodles industry. This instant noodles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466481/?utm_source=GNW
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