August 25, 2022 08:35 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Aug. 25, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Instant Noodles Market By Type (Chicken, Vegetables, Sea Food, & Others), By Modality (Fried & Non-Fried), By Ingredient (Oats, Rice, Wheat, & Others), By Distribution Channel Supermarkets/Hypermarkets, Convenience Stores, Online Retail, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2020 - 2028” in its research database.
“According to the latest research study, the demand of global Instant Noodles Market size & share in terms of revenue was worth of USD 46.75 billion in 2020 and it is expected to reach around USD 74.85 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.8% during the forecast period 2021 to 2028.”
What are Instant Noodles? How big is the Instant Noodles Industry?
Instant noodles, often known as instant ramen, are a type of noodle that has been pre-cooked and is supplied in a dry block style. They typically have a flavouring powder, preservative, or oil added to them for seasoning. Cup noodles, on the other hand, have the seasoning already mixed into the batch, as opposed to the conventional instant noodles, which come with the seasoning contained in a separate packet.
Some types of instant noodles come in a structure that is hermetically sealed, while other types of instant noodles can be cooked in an oven, and yet other types of instant noodles can even be eaten directly from the container by simply adding hot water. Wheat flour, palm oil, and salt are the three primary components that go into the production of instant noodles. Other components include salt, monosodium glutamate, seasoning, and salt.
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The driving factors for the global instant noodle market are the outbreak of COVID-19 leading to lockdown measures by governments across the globe and the majority of consumers switching to home-cooked meals and stocking of food items for a longer duration of time. Additionally, instant noodles offer a wider range of benefits such as convenience, taste, nutrition, and affordable price. These factors are expected to propel the growth of the global instant noodles market to a larger market share during the forecast. Increasing consumer awareness about a healthier dose of noodles and fortified and durable consumables and beverages will further increase the appeal of instant noodles for a wider consumer base. The rising trend of convenience food coupled with a hectic work schedule of the working population is expected to open new revenue opportunities for the global instant noodle market.
Manufacturers are looking to bank in the opportunity of the latter by integrating a range of functionalities such as instant appetizing solutions, longer shelf life, and a wider selection of products in order to capture a larger consumer base. The rising middle-class population has shown an increased dependence on quickly made meals within optimal prices will further boost the growth of the global instant noodles market. Additionally, manufacturers using organic and fresh produce during production will attract a wider range of consumers during the forecast. However, increased consumption can cause metabolic syndrome and other health disorders such as diabetes, hypertension, and others due to chemical correspondents which can decrease the growth of the market to a certain extent.
Browse the full “Instant Noodles Market By Type (Chicken, Vegetables, Sea Food, & Others), By Modality (Fried & Non-Fried), By Ingredient (Oats, Rice, Wheat, & Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2020 - 2028” Report at https://www.fnfresearch.com/instant-noodles-market
Instant Noodles Market: COVID-19 Impact Analysis
In the year 2020, while the COVID-19 epidemic was going around, there was turbulence in many other industries as a result of widespread panic, which resulted in a decrease in the market for instant noodles. But this pandemic has given companies a chance to offer consulting services about financial crises and how to get out of them.
Instant Noodles Market: Segmentation Analysis
The global Instant Noodles Market can be divided into chicken, vegetables, seafood, and others on the basis of type. The chicken segment is expected to occupy the largest market share during the forecast and dominate the segment owing to increasing consumer preference for nutritional elements and affordable prices. Furthermore, increased protein and carbohydrate sources will increase the market share for the segment during the forecast.
The global Instant Noodles Market can be fragmented into supermarkets/hypermarkets, convenience stores, online retail, and others on the basis of distribution channels. The supermarket/hypermarkets segment is expected to witness the largest market share during the forecast owing to the rising number and increased investments. Furthermore, factors such as dedicated shelves and informative boards will further increase the market share during the forecast.
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Some of the main competitors dominating the global Instant Noodles Market include -
Key Insights from Primary Research:
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Asia-Pacific is expected to occupy the largest market share during the advent of the forecast in terms of global revenue contribution. Factors that are responsible for the dominant market share in the global perspective can be attributed to densely populated regions and rising disposable incomes. Additional factors such as the hectic lifestyle of the working population, overall improvement of well-being, and rising willingness to spend on additional beverages and consumables.
Here are some noteworthy developments for the global Instant Noodles Market during the forecast:
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The global Instant Noodles Market is segmented as follows:
By Distribution Channel Segment Analysis
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