Instant Noodles Market to Exhibit 5.95% CAGR from 2022 to 2029; CG Foods to Acquire GB Foods to Expand Footprint

The global instant noodles market size is estimated to surge from USD 54.60 billion in 2022 to USD 81.84 billion by 2029. Noodles have gained immense popularity across Asia Pacific, North America, and Europe, largely due to attributes such as convenience, nutrition, taste, and affordable prices. Millennials and the Gen Z population have sought healthier and fortified products, prompting leading companies to introduce air-fried, gluten-free, and sun-dried noodles.

According to the latest research report by Fortune Business Insights™ titled, “Instant Noodles Market Size, Share & COVID-19 Impact Analysis, By Type (Chicken, Vegetable, Sea Food, and Others), By Raw Material (Oats, Rice, Wheat, and Others), By Packaging (Bag and Cup), By Distribution Channel (Supermarkets/Hypermarkets, Speciality Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2022-2029,” the market garnered USD 51.65 billion in 2021. It is anticipated to witness a 5.95% CAGR during the assessment period.

COVID-19 Pandemic-led Consumption of Instant Food Products to Augur Well

The rampant COVID-19 pandemic had a telling impact on most industries following the onslaught of lockdown and shutdown of manufacturing plants. However, consumers have exhibited immense traction for home-cooked food and the pandemic prompted them to stockpile instant foods. For instance, the CEO of Nissin Food Holdings Co. Mr. Kiyotaka Ando, asserted that the company had recorded slight growth in its operating profit and sales revenue in Q1 2020 compared to the preceding year. Industry players expect consumers to seek convenience food products in the ensuing period.

Nissin Foods Rolled Out Pumpkin Spice flavor to Foster Cup Noodles Portfolio in the U.S.

Well-established players and new entrants are poised to inject funds into organic and inorganic strategies to gain a stronghold across major markets. Leading brands are expected to foster the instant noodles market share through an infusion of funds into convenient snacking foot options. To illustrate, in August 2021, Nissin Foods launched Pumpkin Spice flavor, its first-ever limited-edition flavor, for its cup noodles brand in the U.S. The company suggested the cup noodles pumpkin spice flavor to be "saucy" and claims the pumpkin seasoning in the product is blended with a sweet, savory, and spiced flavor profile. Meanwhile, in February 2021, Marico Limited forayed into the instant noodles portfolio through the introduction of "Saffola Oodles." A strategic approach could play a pivotal role in boosting the industry growth over the next few years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/instant-noodles-market-101452

Burgeoning Middle Class Population to Act as Growth Enabler

A notable uptick in middle-class population across Asia Pacific and South America could play an invaluable role in fostering industry growth. To illustrate, the World Bank PovcalNet, in 2019, noted that 1.3 billion middle-class people were living globally. It is worth noting that the easy availability and affordability of noodles will encourage investments in the portfolio. Moreover, manufacturers have upped investments in innovative food products that provide nutritious benefits amidst the rise in the obese population. Accordingly, leading companies could introduce sun-dried and gluten-free products to propel the market growth. Meanwhile, rising number of diabetic population could dent the instant noodles industry growth.

Industry Players Emphasize Mergers & Acquisitions to Bolster Portfolio

Major players are poised to inject funds into technological advancements, product launches, R&D activities, and mergers & acquisitions. Moreover, leading companies are likely to invest in innovations to foster their geographical footprint.

Notable Industry Development

• October 2021 – CG Foods, a Nepal-based instant noodles manufacturing company, announced the acquisition of GB Foods, a Spanish-based processed food manufacturing company.

List of the Companies Profiled in the Report

• Nissin Food Holdings (Japan)


• Nestle S.A. (Switzerland)


• ITC Limited (India)


• Capital Foods Pvt. Ltd. (India)


• Ajinomoto Co. Inc. (Japan)


• Acecook Vietnam Joint Stock Company (Vietnam)


• The Campbell Soup Company (U.S.)


• Indofood Sukses Makmur Tbk (Indonesia)


• Toyo Suisan Kaisha Ltd. (Japan)


• Tat Hui Foods Pte Ltd. (Singapore)

Further Report Findings

• In terms of type, the chicken segment will account for a notable share of the global market owing to the trend for exotic flavors with nutritional value.


• Asia Pacific market size was valued at USD 44.38 billion in 2021 and will grow with rising disposable income and the presence of leading companies.


• Europe market outlook will be strong on the back of shifting trends toward on-the-go products.

Table of Segmentation