Global instant noodles market growth poised to hit US$86.78 billion by 2030
GLOBAL – Instant noodles market size is expected to grow from US$57.94 bn in 2023 to US$86.78 bn by 2030, at a Compound Annual growth rate (CAGR) of 5.94%, according to Maximize Market Research, a consulting firm that provides research services.
According to the report, the rapid growth of the instant noodles market is driven by the increase in convenience food. Given hectic work timelines, changing lifestyles, and meal patterns, consumers are on the lookout for instant meal replacements, which instant noodles offers.
Furthermore, the launching of new and innovative tastes and healthier options like organic, low-sodium and plant-based instant noodles lures an increasing number of health-conscious customers.
According to the report, the global instant noodles market is divided based on the type of product, flavor, distribution channel, and region.
The instant noodles can be either cup noodles, packet noodles and bowl noodles. The easy-to-carry packaging of cup noodles allows convenience leading to increased adoption of this product type among consumers.
Packet noodles are highly consumed, due to affordability, while bowl noodles are more expensive, due to larger serving size and the presence of additional ingredients, like seasonings.
Instant noodles come in numerous flavors such as chicken, beef, shrimp, curry, spicy, etc. Although chicken & beef are still the top flavors, a rise in demand for more varied flavors, like Korean kimchi is projected to easily appease international palates.
The escalating demand for vegan options is additionally creating opportunities for plant-based flavour profiles. Soaring availability of instant noodles at several distribution channels, such as convenience stores, supermarkets, and online platforms, is also contributing to the market expansion.
Region wise, the global instant noodles market is growing at a rapid pace all around the globe. The largest portion of the market is occupied by Asia-Pacific, where the consumption of animals is at the highest, especially in China, India, Japan, and Indonesia.
With greater disposable incomes and changing eating behaviors, the Middle East and Africa is expected to have the fastest growth in the coming years.
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