The Global Instant Noodles Market Growth Accelerated By Rising Demand For Convenient On-The-Go Meals
Instant noodles are quick and easy-to-cook food products containing dried vegetable and meat or seafood flavored instant noodle blocks. They have emerged as a fast and tasty alternative to homemade meals. Instant noodles are relatively affordable and convenient to prepare requiring just boiling water.
The global Instant Noodles Market is estimated to be valued at Us$ 2.17 Mn in 2023 and is expected to exhibit a CAGR Of 5.5% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Over the past few years, changing dietary preferences and busy modern lifestyles have driven the demand for convenient on-the-go meals options like instant noodles. With growing health awareness, manufacturers are innovating by introducing instant noodles made from whole grains, vegetables and high-protein ingredients to make them healthier. Introduction of new flavors, pack sizes and product formats catering to regional taste profiles is also fueling the sales of instant noodles globally. The market has registered strong growth over the past few years attributable to rising demand for convenient on-the-go meals which individuals can easily prepare without involving elaborate cooking steps. Innovation in flavor profiles and introduction of healthier product variants are expected to further support the market expansion over the forecast period.
Segment Analysis
The global instant noodles market is dominated by the fried noodles segment which holds around 60% of the overall market share. Fried noodles are the most popular type of instant noodles consumed globally due to their desirable taste and texture. This segment is expected to continue dominating the market during the forecast period owing to rising popularity of Asian cuisines worldwide and changing consumer preferences towards convenience food products.
Key Takeaways
The Global Instant Noodles Market Demand is expected to witness high growth over the forecast period from 2024 to 2031. The global Instant Noodles Market is estimated to be valued at US$ 2.17 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Asia Pacific currently dominates the global instant noodles market with around 80% share. Countries like China, Japan and Indonesia have the highest per capita consumption of instant noodles. Rapid urbanization, rising disposable incomes and preference for convenience food products are some key factors driving the growth of instant noodles market in the Asia Pacific region.
Key players operating in the instant noodles market are Abbott Point of Care Inc., Cornley Hi-tech Co., LTD, Radiometer Medical ApS, EDAN Instruments, Inc., ERBA Diagnostics Mannheim GmbH, F Hoffman La Roche Ltd., Fortress Diagnostics, Instrumentation Laboratories, LifeHealth, Medica Corporation, Nova Biomedical Corporation, OPTI Medical Systems, Inc., Sensa Core, Siemens Medical Solutions USA, Inc.
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