Instant noodles market size is valued at USD 74.08 billion by 2028 from USD 45.1 billion in 2020 and is expected to grow at a compound annual rate of 6.40% in the forecast period 2021 to 2028. The rising demand and increasing popularity of ready-to-eat food is the factor for the instant noodles market in the forecast period of 2021 to 2028.
The major growing factor towards instant noodles market is the significant growth in the consumption pattern as these noodles are affordable, easy to store, have long shelf life, and are more convenient to use. The prime factor driving the demand for instant noodles is that these noodles come in different packaging and flavors, increasing consumers' preferences towards it. Furthermore, the ever-increasing urbanization and rising disposable incomes have changed the consumers' eating habits, which are also heightening the overall demand for instant noodles market over the forecast period of 2021 to 2028. Owing to the hectic lifestyle, the working population prefers affordable and quick meals such as instant noodles, which entail minimal cooking and positively impact the instant noodles market growth rate. The high growth of the organized food retail sector, with an escalating number of departmental stores, supermarkets, hypermarkets, and convenience stores across the world, is also accelerating the instant noodles market's growth above-mentioned forecast period.
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The major players covered in the instant noodles market report are Unilever, Nestlé, Campbell Soup Company, Maruchan Ajinomoto India Private Limited., YUMMY NOODLES, NISSIN FOODS, ITC Limited, New Dragon Asia Food (Yantai) Co., Ltd., MAMEE DOUBLE-DECKER (M) SDN. BHD., Kohlico Brands UK Ltd., PT INDOFOOD SUKSES MAKMUR Tbk, Capital Foods Pvt. Ltd., AICO FOOD LTD., AKASH YOG HEALTH PRODUCTS PVT. LTD., Tat Hui Foods Pte. Ltd, and ACECOOK VIET NAM among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Global Instant Noodles Market Scope and Market Size
Instant noodles market is segmented on the basis of type, product type, pack size, source and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the instant noodles market has been segmented into vegetable, chicken, sea food and others.
- Based on the product type, the instant noodles market has been segmented into cup/bowl and packet.
- Based on the pack size, the instant noodles market has been segmented into single pack, four pack, six pack and others.
- On the basis of source, the instant noodles market has been segmented into wheat, rice, oats and others.
- The distribution channel of the instant noodles is segmented into store-based and non-store-based.
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Instant Noodles Market Country Level Analysis
Instant noodles market is analyses and market size, volume information is provided by country, type, product type, pack size, source and distribution channel as referenced above.
The countries covered in the instant noodles market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific leads the instant noodles market due to the rapid urbanization, large population size and rising demand for convenience foods in this particular region. Europe region are expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to the high demand for noodle flavors and the growing trend of convenience foods in the region.
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