NEW
YORK, June 20, 2024 /PRNewswire/ -- The global
noodles market size is estimated to grow by USD 9.66 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
almost 3.2% during the forecast period. Increasing demand for
regional and ethnic flavors is driving market
growth, with a trend towards use of natural additives.
However, fluctuating raw material prices poses a challenge.
Key market players include Acecook Vietnam Joint Stock Co.,
Ajinomoto Co. Inc., Beltek (Huizhou) Foods Co. Ltd., Capital Foods Pvt.
Ltd., CJ CheilJedang Corp., Conagra Brands Inc., House Foods Group
Inc., ITC Ltd., Mandarin Noodle, Nestle SA, Nissin Foods Holdings
Co. Ltd., NONGSHIM AMERICA INC., Ottogi Co. Ltd., PT INDOFOOD
SUKSES MAKMUR Tbk, QQ Famous Noodles, S.K Food Foods Pvt. Ltd.,
Sanyo Foods Corp. Of America, Thai President Foods Public Co. Ltd.,
Uni President Enterprises Corp., and Unilever PLC.
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segments, customer landscape, and companies - Click for the
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Instant
noodles and Dried and others), Distribution Channel (Offline and
Online), and Geography (APAC, North America, Europe, Middle East
and Africa, and South America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Acecook Vietnam Joint
Stock Co., Ajinomoto Co. Inc., Beltek (Huizhou) Foods Co. Ltd.,
Capital Foods Pvt. Ltd., CJ CheilJedang Corp., Conagra Brands Inc.,
House Foods Group Inc., ITC Ltd., Mandarin Noodle, Nestle SA,
Nissin Foods Holdings Co. Ltd., NONGSHIM AMERICA INC., Ottogi Co.
Ltd., PT INDOFOOD SUKSES MAKMUR Tbk, QQ Famous Noodles, S.K Food
Foods Pvt. Ltd., Sanyo Foods Corp. Of America, Thai President Foods
Public Co. Ltd., Uni President Enterprises Corp., and Unilever
PLC
|
Key Market Trends Fueling Growth
Noodle manufacturers prioritize the use of natural proteins in
their dough to enhance nutritional value and maintain a robust
structure. Exogenous proteins contribute to improved dough
structure and increased chewiness in the final product. Major
companies are committed to using only natural additives, a trend
anticipated to fuel market expansion during the forecast
period.
The noodles market is currently experiencing significant growth,
with a high demand for various types of noodles worldwide.
Packaging and production technologies are advancing, leading to
convenient and sustainable options. Sauces and toppings are
trending, adding flavor and variety to noodle dishes. Noodles are
versatile and can be found in numerous cuisines, making them a
popular choice for consumers. Noodle brands are focusing on
innovation, creating new and unique flavors to capture market
share. Noodles are convenient, affordable, and delicious, making
them a staple food in many households. The industry is constantly
evolving, with new trends emerging to cater to consumer
preferences.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global noodles market faces challenges due to volatile raw
material prices, particularly for wheat and packaging materials
like aluminum, paper, and plastics. The widening supply-demand gap
has significantly increased these costs, threatening profit margins
for vendors. In response, manufacturers explore low-cost
alternatives, potentially sacrificing product quality. Suppliers
can also raise prices based on demand, further increasing
manufacturing costs. These factors hinder market growth.
- The noodles market faces several challenges in the production
and distribution process. One major challenge is the consistency in
the quality of noodles, which can be affected by various factors
such as temperature control during manufacturing and
transportation. Another challenge is the increasing demand for
healthier options, requiring the use of alternative ingredients and
production methods. Additionally, logistics and supply chain
management pose a significant challenge due to the perishable
nature of noodles and the need for timely delivery to maintain
freshness. Furthermore, competition from other food industries and
changing consumer preferences add to the complexity of the market.
Overall, addressing these challenges requires continuous innovation
and adaptation in the noodles industry.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This noodles market report extensively covers market
segmentation by
- Product
- 1.1 Instant noodles
- 1.2 Dried and others
- Distribution Channel
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Instant noodles- The noodles market experiences
consistent demand due to their affordability and versatility.
Various types, such as ramen, spaghetti, and udon, cater to diverse
consumer preferences. Manufacturers focus on product innovation,
using high-quality ingredients and convenient packaging. Retailers
ensure wide availability through supermarkets and online platforms.
The market's growth is driven by population increase and changing
consumer habits.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The noodles market continues to thrive, catering to the diverse
tastes and nutritional needs of consumers. Affordable home-cooked
food, made with essential food items, has gained popularity among
health-conscious millennial population and working-class customers.
Bulk purchases of instant noodles, offering longer shelf life and
greater accessibility, remain a staple for many households.
However, concerns over nutrient deficiencies and malnutrition,
particularly post-pandemic, have led to a shift towards healthier
noodle options. Functional benefits and standard flavors, made with
healthier ingredients like atta and masalas, are increasingly
preferred over white flour-based instant noodles. New flavors and
packaging designs aim to attract health-conscious consumers,
ensuring quick appetizers without compromising on operating
profit.
Market Research Overview
The Noodles Market encompasses a wide range of long-strand pasta
and wheat-based dishes, prepared and consumed in various ways
across the globe. These noodles can be fresh, dried, or instant,
and are often accompanied by sauces or broths. The market caters to
diverse consumer preferences, with offerings that include low-carb,
gluten-free, organic, and vegan options. Noodles are a staple food
in many cultures, and their versatility makes them a popular choice
for quick and convenient meals. The production process involves the
use of raw materials such as wheat, corn, and rice, which are
transformed into noodles through various methods like extrusion,
cutting, and steaming. The market is driven by factors such as
population growth, urbanization, and changing consumer
lifestyles.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Instant Noodles
- Dried And Others
- Distribution Channel
-
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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