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Instant Noodles Market is estimated to be US$ 84.63 billion by 2030 with a CAGR of 5.7% -BY PMI

Instant Noodles Market - BY PMI

Instant Noodles Market - BY PMI

The report “Instant Noodles Market by Packaging, By Type of Broth, By Distribution Channel - Trends, Analysis and Forecast till 2029’’

COVINA, CALIFORNIA, UNITED S, March 20, 2023 /EINPresswire.com/ -- According to the latest research study, the demand of Instant Noodles Market accounted for US$ 49.0 billion in 2020 and is estimated to be US$ 84.63 billion by 2030 and is anticipated to register a CAGR of 5.7%.

The instant noodles market refers to the global industry that produces and distributes pre-cooked and dehydrated noodles that can be quickly prepared by adding boiling water. Instant noodles are a popular convenience food that is widely consumed in many countries around the world. The market is driven by factors such as convenience, affordability, and increasing demand from emerging economies. However, concerns about the health impacts of instant noodles, such as high levels of sodium and preservatives, have led to increased scrutiny and regulatory oversight in some countries.

Report Metrics:

Report Attribute - Details
Market Size - US$ 49.0 billion
CAGR – 5.7%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

• In April 2022, Yu changed the concept of packaged ready-to-eat foods - from purely 'convenience' foods to everyday meal options as they contain zero preservatives or additives and 100 percent natural ingredients.
• In February 2021, Merico has entered the instant noodles segment by launching 'Saffola Oddles'. With the launch of this product, Marico says it plans to strengthen its presence in the healthy, ready-to-cook snacking category under the Saffola brand.

Analyst View:

One of the most popular and well-known foods consumed worldwide is instant noodles, in countries, both developed and developing. Its growing consumer popularity is largely due to its test, nutrition, and inexpensive pricing. Furthermore, a fast-paced, changing way of life necessitates fast meals due to time restraints, which is predicted to boost the market for instant noodles. Moreover, increasing per capita disposable income of consumers followed by increasing demand for ready-to-eat products that require minimum cooking time is expected to drive the target market growth in the coming years.

Key Market Insights from the report:

Instant Noodles Market accounted for US$ 49.0 billion in 2020 and is estimated to be US$ 84.63 billion by 2030 and is anticipated to register a CAGR of 5.7%. The Instant Noodles Market is segmented based on Packaging, Type of Broth, Distribution Channel and Region.

• Based on Packaging, Instant Noodles Market is segmented into Packets, Cups, and Others.
• Further, based on Broth Type, Instant Noodles Market is segmented into Sea-food, Chicken, Vegetable, and Others.
• Based on Distribution Channel, Instant Noodles Market is segmented into Store Based and Non-store Based.
• By Region, the Instant Noodles Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Company Profiles:

Key players in the Instant Noodles Market includes Nestlé S.A, Ajinomoto Co., Inc., The Unilever Group, Campbell Soup Company, Hubei Hualong Food Group Co., Ltd., PT Indofood Sukses Makmur Tbk, Nissin Foods Products Co., Ltd., Capital Foods Limited, ITC Limited, and Acecook Vietnam Joint Stock Company.

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Drivers and Restrains of Instant Noodles Market:

For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.

Drivers:

• Convenience: Instant noodles are a popular option for consumers who are busy since they are a convenient dish that can be cooked fast and effortlessly.
• Affordability: Instant noodles are frequently more economical than other meal alternatives, making them a popular option among customers, especially in developing nations.
• Versatility: Instant noodles are appealing to a wide spectrum of customers since they are offered in a wide variety of flavours and variations, including vegetarian and gluten-free versions.
• Growing demand from emerging economies: The desire for economical and practical food alternatives is growing in emerging nations, which is what is driving the market for instant noodles.

Restrains:

• Health concerns: The health risks associated with instant noodles, especially their excessive salt, fat, and preservative content, have prompted increasing attention and regulatory control in various nations.
• Competition from other convenience foods: Other convenience foods that provide comparable convenience and ease of preparation, such frozen dinners and ready-to-eat snacks, compete with instant noodles on the market.
• Changing consumer preferences: The demand for instant noodles may suffer as consumers search more and more for natural and healthier meal choices.
• Supply chain disruptions: Disruptions in the supply chain, such as variations in the cost or availability of raw materials, can have an influence on both manufacturing and distribution in the instant noodle industry.

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