Instant Noodles Global Market Report 2024

The instant noodles market size has grown strongly in recent years. It will grow from $55.77 billion in 2023 to $59.16 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historical period can be attributed to factors such as the convenience and quick preparation of instant noodles, their affordability and cost-effectiveness, extended shelf life and storage convenience, the global expansion of instant noodle brands, and cultural acceptance and adaptation.

The instant noodles market size is expected to see strong growth in the next few years. It will grow to $77.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to a continued emphasis on convenience, diverse flavor innovations, an increasing demand for on-the-go snacking, a variety of product options including health-conscious choices, and the growth of e-commerce and online sales. Major trends expected in the forecast period include customization and personalization, the rise of e-commerce and direct-to-consumer sales, the popularity of plant-based and meat alternatives, globalization and cross-cultural fusion, as well as advancements in technology and innovation.

The instant noodles market is expected to experience growth, driven by the increasing demand for ready-to-eat food products. Ready-to-eat (RTE) items, encompassing foods that are pre-cooked and often packaged for immediate consumption, are gaining popularity. These products, typically containing raw materials of animal origin, must undergo cooking during manufacturing to eliminate microorganisms that may pose health risks. The processed food and drink industry in the UK, as reported by the Food and Drink Federation, demonstrated a notable increase with a turnover of £112 billion in 2021, marking a 3.4% growth since 2020 and contributing significantly to the overall UK manufacturing sector. Similarly, food and beverage manufacturing sales in Canada saw a year-over-year increase of 3.5% in 2020, reaching $122.9 billion. Hence, the rising demand for ready-to-eat food products is poised to fuel the instant noodles market.

The growth of the instant noodles market is anticipated to be influenced by the expanding global tourism sector. Tourism, defined as the activity of spending time away from home for relaxation and recreation, plays a crucial role in driving the demand for instant noodles. These noodles have become a staple for budget-conscious travelers and those exploring regions with limited dining options. Statistics from the World Tourism Organization reveal a substantial surge, with international tourist arrivals increasing by 172% from January to July 2022 compared to the same period in 2021. The total number of international tourists during this period reached approximately 474 million, compared to 175 million in the corresponding months of 2021. Furthermore, the World Travel Tourism Council reported a recovery of 21.7% in the sector's contribution to the global economy in 2021 following a significant 50.4% drop in 2020. Therefore, the anticipated growth in global tourism is expected to act as a driving force for the instant noodles market.

A prominent trend is the emphasis on product innovation by major companies aiming to enhance their market position. For example, Yu Foodlabs, an Indian-based instant meal bowls food brand, introduced two distinctive instant noodle bowls in April 2022, featuring unique and enticing flavors - Zingy Cheese and Chilli Manchurian. The Zingy Cheese noodles incorporate cheddar cheese, spring onions, and corn kernels, providing 100% natural, ready-to-eat cup noodles that require a quick 5-minute preparation by adding hot water, with no preservatives or artificial additives. Inspired by the aesthetics of Indo-Chine cuisine, these latest offerings are not only innovative but also affordable.

Major players in the instant noodles market are strategically focusing on innovations such as quality improvers to gain a competitive edge. Quality improvers, also recognized as food additives, are substances incorporated into food to enhance attributes such as appearance, flavor, texture, or shelf life. In March 2023, Kemin Industries Inc., a US-based provider of specialty ingredients, launched VALTEQ. This unique line of liquid product solutions addresses common challenges faced by noodle manufacturers, including issues such as sticking, clumping, and oxidation. VALTEQ is a revolutionary product line designed to assist instant noodle manufacturers in producing higher-quality noodles while safeguarding against sticking to production molds.

In September 2021, Nissin Food Products Co. and IRI Corp., a US-based solutions and services provider for consumer, retail, and media organizations collaborated. This collaboration aims to accelerate growth through innovation and premiumization, contributing to Nissin's continuous expansion. The partnership focuses on introducing creative products and achieving substantial growth in sales and purchase frequency, surpassing the broader Instant Noodle category performance by three to six times over the previous year. Nissin Food Products Co. operates as a US-based food and beverage manufacturing firm, offering convenience foods and instant noodles that consumers can purchase directly through a web browser or mobile app.

Major companies operating in the instant noodles market report are Nestlé SA, Ajinomoto Co. Inc., Nissin Foods Holdings Co. Ltd., Hebei Hualong Noodle Group Changchun Food Co. Ltd., Indofood Sukses Makmur Tbk PT, Master Kong Chongqing Convenience Food Co. 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., Toyo Suisan Kaisha Ltd., Campbell Soup Company, ITC Limited, Unilever plc, Monde Nissin Corporation, TF Co. Ltd., Sanyo Foods Co. Ltd., Tat Hui Foods Pte. Ltd., Ting Hsin International Group, Uni-President Enterprises Corp., Nong Shim Co., Jinmailang Foods Co., Baijia Food Group Co.

Asia-Pacific was the largest region in the instant noodles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the instant noodles market report during the forecast period. The regions covered in the instant noodles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the instant noodles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are two main types of instant noodles, fried and non-fried. Fried noodles involve deep-frying strips of wonton wrappers, resulting in crispy, fried wonton noodles. These noodles are packaged in various formats such as packets and cups, and they are distributed through channels such as supermarkets, hypermarkets, specialty stores, convenience stores, online platforms, and others.

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. The 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.

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.


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