August 29, 2022 04:06 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Instant Noodles Market finds that the rise in the need for convenience food is accelerating market enlargement. Additionally, the increased working population base and rising demand for ready-to-cook items that need the least cooking time are anticipated to enhance the Global Instant Noodles Market growth during the forecast period.
The Global Instant Noodles Market revenue is expected to reach a value USD 69.9 Billion in 2028.
The Global Market revenue stood at a value USD 50.7 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period; states Vantage Market Research, in a report, titled "Instant Noodles Market Size, Share & Trends Analysis Report by Product Type (Cup/Bowl, Packet), by Pack Size (Single Pack, Four Pack, Six Pack, Other Sizes), by Distribution Channel (Store Based, Non Store Based), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Key Industry Findings & Insights from the report:
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Increasing Demand for Convenient Foods to Drive Market Expansion
Convenient foods are broadly becoming popular, particularly among working group people, hostel living people, teenage children, bachelors, and so on. Convenience foods are used to cut down the time of preparation for food/meal at home, hardly taking less than 5 minutes to cook the meal. In addition, several convenient foods can be eaten immediately or after adding some water by heating or thawing. They are frequently made and packaged before being consumed, can be used at any time, fast and efficiently by heating or thawing the food, and have been intended to be tasty, cheap, and non-perishable.
Furthermore, Instant Noodles Market have become very popular as they are served as a quick snack or meal. Also, Instant Noodles Market are available in an extensive range of flavors with different vegetarian and non-vegetarian variations. Besides, the market players are preparing new flavors, textures, colors, seasonings/tastemakers, and other things according to regional tastes and preferences. This will help to develop their consumer base.
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The report on Instant Noodles Market highlights:
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Asia Pacific Dominated the Global Instant Noodles Market
Asia Pacific is leading the global Instant Noodles Market and will continue to lead worldwide during the forecast period. This augmentation can be attributable to the surge in demand for convenience food products by the working population base in developing countries such as China and India. Moreover, China is the major contributor to the global Instant Noodles Market. Also, there has been increasing demand for Instant Noodles Market in this region as it is an important part of Chinese food. Besides, China is followed by Japan, Indonesia, Vietnam, India, the Republic of Korea, Thailand, and the United States.
List of Prominent Players in Instant Noodles Market:
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on "Instant Noodles Market Size, Share & Trends Analysis Report by Product Type (Cup/Bowl, Packet), by Pack Size (Single Pack, Four Pack, Six Pack, Other Sizes), by Distribution Channel (Store Based, Non Store Based), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
April 2022: Yu Foodlabs, a consumer food brand that makes preservative-free meal bowls, announced that it is increasing its product portfolio by launching its new Instant Noodles Market (Yudles) at WH Smith and 24 Seven Stores. Yu was conceptualized to change the perception of packaged Ready to Eat Foods from pure 'convenience' foods to making daily meal choices with zero preservatives or additives and being 100 % natural.
February 2021: Marico Limited, an Indian multinational consumer goods company, entered the Instant Noodles Market space by introducing the "Saffola Oodles." The company initially offered these products via e-commerce platforms, including Saffola Stores, Flipkart, Amazon, Big Basket, Grofers, and across India.
Key Questions Answered in The Report:
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