Nissin Foods to invest in global expansion amid shifting instant noodle market trends
JAPAN – Nissin Foods Holdings, one of the world’s largest producers of instant noodles, plans to invest hundreds of millions of dollars over the next several years to expand its operations in Japan and beyond, according to CEO Koki Ando.
Speaking at the World Instant Noodles Association summit in Manila, Ando emphasized that Nissin remains confident in the enduring demand for affordable precooked noodles, despite ongoing industry efforts to counter perceptions of instant noodles as an unhealthy staple.
The Tokyo-based company aims to ramp up its capital expenditures through 2030, underscoring its commitment to innovation and market expansion. The instant noodle industry is striving to re-ignite consumer interest following a decline in consumption in 2023, the first in four years, despite a 14% increase in demand between 2019 and 2022.
According to the latest industry data, global consumption of instant noodles decreased by nearly 1% to 120.2 billion servings in 2023. Ando stated that last year’s figures slightly exceeded those of 2023, with expectations for at least 120 billion servings this year.
The demand for instant noodles surged during the COVID-19 pandemic as families stayed at home. However, consumption decreased in 2023 as economies reopened and noodle prices increased in many countries.
The instant noodles market size is projected to grow from US$57.94 billion in 2023 to US$86.78 billion by 2030, with a compound annual growth rate (CAGR) of 5.94%, according to Maximize Market Research, a consulting firm that provides research services.
Data from the World Instant Noodles Association, which tracks demand for instant noodles by country and region, reveals that China is the leading nation in noodle consumption, with 42 billion servings.
Indonesia, India, and Vietnam follow in second, third, and fourth places respectively, while Japan ranks fifth. The USA, Philippines, Korea, Thailand, and Nigeria, in that order, occupy the sixth to tenth positions.
Nissin Foods has reported a significant reduction in the salt content of its Udon noodles, decreasing it by one third between 2005 and 2024. The company has also introduced products fortified with various nutrients, including protein, vitamins, and minerals.
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