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BANGALORE, India , Aug. 22, 2022 /PRNewswire/ -- The Global Instant Noodles Market is Segmented by Type (Chicken, Beef, Vegetable, Seafood), by Application (Instant Noodles, Restaurants): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Food & Drink Category.
Due to the COVID-19 pandemic, the global Instant Noodles market size is estimated to be worth USD 34220 Million in 2022. It is forecast to be a readjusted size of USD 43800 Million by 2028 with a CAGR of 4.2% during the forecast period.
Major Factors Driving the Growth of the Instant Noodles Market
The rising demand for ready-to-eat foods due to busier work schedules, availability of a wide variety of flavors, customized taste, and easy-to-cook features will increase adoption thereby fueling the market's growth.
The growth of the food retail industry will drive market expansion during the forecast period.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL INSTANT NOODLES MARKET
A filling meal of noodle soup can be made easily within minutes. This is extremely convenient for people who have busier work schedules. This increases flexibility as several micronutrients can be consumed on the go. This will drive the growth of the instant noodles market in the coming years. The noodles are essentially made up of salt, wheat, and water. They have a lower value of fiber and protein. However many brands are fortifying the noodles with additional micronutrients such as iron, manganese, B vitamins, folate, thiamin, and riboflavin.
The instant noodles industry is booming. They come in a wide variety of flavors such as beef, shrimp, roast chicken, creamy chicken mushroom, chili-lime shrimp, and others. Such variety is attracting a huge number of consumers which in turn will drive the growth of the global instant noodles market. They can be grouped as per their flavor profiles and adjusted easily with seasoning, water, and dressed-up eggs, vegetables, meat, or cheese.
Several industry players are introducing product innovations to cater to the preference of all age groups This will bolster the demand for the instant noodles market. Flavors can be mixed and matched with seasoning packets and customized using homemade broth or crushed noodles as toppings. There is a ramen noodle snack mix, mayonnaise ramen salad, and ramen noodle pizza.
The organized food retail sector is rising rapidly due to the increasing presence of departmental stores, restaurants, supermarkets, and convenience stores. The popularity of ready-to-eat food products that are quick to prepare and eat is high. This will augment the growth of the global instant noodles market in the forthcoming years. Convenient and instant food products have longer shelf-life and are a source of instant appetizers. The availability is high in the global marketplace.
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INSTANT NOODLES MARKET SHARE ANALYSIS
Based on type, the beef instant noodles segment will dominate the instant noodles market share with 49%.
Based on application, household applications will be the most lucrative with a market share of 86%.
Based on region, Asia-Pacific will witness considerable growth in the instant noodles market share due to the huge demand for convenient food products by the working population in emerging countries like China , India , etc.
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