Noodles Market By Type (Instant noodles, Veg noodles, Non-vegetarian noodles, & Others), By Raw Material (Oat, Rice, Wheat, & Others), By Distribution Channel (Supermarkets, Hypermarkets, Online Channels, & Others) - Global Opportunity Analysis & Industry Forecast, 2022-2027
Noodles Market Overview
Noodles Market Size is estimated to reach $70.33 billion by 2027. Furthermore, it is poised to grow at a CAGR of 5.2% over the forecast period of 2022-2027. Noodles are a type of unleavened dough that is rolled flat and sliced into long strips or strings before being expanded or extruded. Noodles can be kept refrigerated for short-term storage or dried and stored for later use. Noodles are frequently cooked in boiling water, sometimes with the addition of cooking oil or salt. They're commonly deep-fried or pan-fried. Ready meals, baked goods, morning cereals, potato chips, almonds, instant noodles, pasta, and other packaged food products are examples. A unique type of instant noodles with a well-established porous structure was successfully generated by combining medium temperature -amylase (MTA) with the extrusion process to improve the rehydration and palatability aspects of extruded snacks like extruded noodles. The extruded noodles with 0.40 MTA concentration were supported as a result of the assessments, based on the results of the cooking quality, textural aspects, and sensory assessment. Instant noodles are precooked and dried noodles that come in a block with flavoring powder and/or seasoning oil. India is the fourth-largest instant Noodles Market in the world, according to the World Instant Noodles Association, with 5.4 billion servings in 2019. The Noodles Market is expected to be driven by the growing millennial population, as well as the growing employed class around the world, who have a growing preference for packaged foods such as instant noodles. CG Foods India and Wai Wai instant noodles partnered in August 2019 to market and distribute the noodles in India. In addition, the firm intends to open two production facilities in the country. Rice noodles' multiple health benefits, such as low-fat content, low-calorie count, and high manganese level, which is essential for metabolism, are expected to move the Noodles Market forward during the forecast period 2022-2027.
Noodles Market Report Coverage
The report: “Noodles Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Noodles Market.
Instant noodles, Veg noodles, Non-vegetarian noodles, and Others.
By Raw Material: Oat, Rice, Wheat, and Others.
By Distribution Channel: Supermarkets, Hypermarkets, Online Channels, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and the Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia, and Rest of South America), and Rest of the World (the Middle East, and Africa).
- Geographically, Asia-Pacific held a dominant market share in the year 2021, owing to the trend of healthy food. The use of packaged food products, such as instant noodles, in India, is being driven by a growing millennial population and a growing working-class client base. In addition, the companies have recently launched a number of new products with unique flavors, healthy ingredients, and packaging. Instant noodle consumption has increased significantly in India over the last few years as a result of these factors, help to the market's growth during the forecast period of 2022-2027.
- However, growing awareness about the negative health impact of noodles owing to additives like monosodium glutamate is expected to hinder the growth of the target market to a certain extent.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Noodles Market Report.
Noodles Market: Market Share (%) by region, 2021
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Noodles Market Segmentation Analysis- By Type
Noodles Market based on type can be further segmented into Instant noodles, Veg noodles, Non-veterinarian noodles, and Others. Instant noodles held a dominant market share in the year 2021. Instant noodles are gaining popularity among consumers owing to their low cost and availability in a variety of flavors in supermarkets and hypermarkets. In addition to their regular shopping, people in urban areas like to buy instant noodles. With changing client tastes, market players introduce new varieties, and supermarkets ensure that all of these products are available to attract more customers. One of the primary growth pillars for market growth is the world's growing middle-class population since the price and availability of consumer packs are within reach.
However, the Veg Noodles segment is expected to grow at the quickest rate between 2022 and 2027, with a CAGR of 6.2%, Veg noodles are one of the most popular veg foods that are consumed on a large scale across the world. Veg noodles are more widely adopted in many nations throughout the world as a result of the adoption of a fast-paced lifestyle and the consumption of packaged goods. The nutritious value of veg noodles is one of the main reasons for their widespread consumption. The market gets to benefit in the coming years from the diversity of product offerings by significant enterprises around the world. The low cost of the products, together with the growing middle-class population in various nations throughout the world, provides a major opportunity for market players. For example, Ajinomoto Co. Inc boosted its market share in the Indian MSG market by producing cold noodles in January 2020. By increasing its sales network, the corporation also intends to expand its market presence in the western and northern regions. Thus the increasing demand for veg noodles is helping to grow the market in the forecast period of 2022-2027.
Noodles Market Segmentation Analysis- By Raw Material
Noodles Market based on raw materials can be further segmented into Oat, Rice, Wheat, and Others. The Wheat segment held a dominant market share in the year 2021. Wheat's digestive characteristics, as well as its richness in iron, calcium, vitamins, and other nutrients, have encouraged consumers to eat wheat-based noodles and extruded snacks owing to its widespread availability across the supply chain.
However, Rice and Oat noodles are expected to grow at the quickest rate between 2022 and 2027, with a CAGR of 5.8%. Since of the gluten found in wheat and associated goods, as well as increased consumer knowledge of the benefits of oat and rice. In addition, leading manufacturers introduced their products in a variety of flavors, including rice and oat, to give consumers the nutritional benefits of oat and rice and to meet market demand. As a result, the market for noodles is expected to grow throughout the forecast period of 2022-2027.
Noodles Market Segmentation Analysis- By Geography
The Noodles Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 34% in the year 2021. In addition, China dominates the worldwide noodle market, along with the rising popularity of noodles in China. Noodles are an important part of Chinese cuisine, which has resulted in high demand for the Noodles Market in the Asia-Pacific region. Indonesia, Japan, India, and other countries follow China. Nestle SA launched masala veg atta noodles with spinach in every strand in India in February 2021 to address the growing demand for the seasonal joy of vegetables like spinach in noodles among Indian consumers. Key manufacturers are leading the Noodles Market in this region with such developments and expansions.
Furthermore, North America is estimated to grow with the fastest CAGR over the forecast period 2022-2027. Since of their rising disposable earnings, they are able to purchase a wider range of food goods on the market. Consumers in this region have shown a willingness to spend more on convenience foods and packaged food products, and demand is growing quickly. Some of the primary variables that are anticipated to enhance the consumption of noodles in this region are the growing work population, active young groups, and an increase in the number of the female working population.
Noodles Market Drivers
Increasing Consumer Inclination towards Fortified and Healthier Instant Noodles is Key Factor in Market Growth
The detrimental effects of nutrient deficiencies (malnutrition) have compelled consumers to include healthy and nutritional foods in their regular diets in every corner of the world. In 2022, more than 1.9 billion persons worldwide are obese, while 462 million are underweight, according to the World Health Organization (WHO). Consumers are looking for new and inventive food products, such as quick noodles, that are both nutritious and tasty. The product's makers believe it has the potential to be an effective food carrier for adding vitamins, iron, calcium, and other nutrients. Additionally, producers are focusing on releasing gluten-free, air-fried, and sun-dried goods, all of which are likely to contribute to the worldwide Noodles Market's growth.
Increasing Middle-Class Population is Propelling the Market Growth
Noodles are a popular choice among consumers owing to their low cost and variety of flavors available in a variety of supermarkets and hypermarkets. The world's growing middle-class population is one of the primary growth pillars for the market, as the price and availability of consumer packs are both within reach. According to data published by the Broking institution's Global Economy and Development Program, there were roughly 3.2 billion individuals in the middle class in 2016, up 500 million from the previous year, and this number is likely to rise by 2020 globally. As a result, the market is likely to expand in the approaching years.
Noodles Market Challenges
Existence of Mono-sodium Glutamate (MSG) And Tertiary-Butyl Hydroquinone (TBHQ) Is Hampering the Growth Of The Noodles Market:
Mono-sodium glutamate (MSG) and tertiary-butyl hydroquinone are included in nearly all instant noodles (TBHQ). The chemical preservative tertiary-butyl hydroquinone (TBHQ) is derived from the petroleum sector. For their taste-enhancing and preserving properties, monosodium glutamate (MSG) and tertiary butyl hydroquinone (TBHQ) may be present in instant noodles. Though taking these components in moderation is permissible, doing so on a daily basis might cause major health problems. Furthermore, despite the fact that instant noodles are a handy and delicious dish, the excessive sodium, harmful saturated fat, and glycemic load in foods may increase the risk of metabolic syndrome. According to studies, eating too many instant noodles might cause obesity as well as metabolic diseases such as diabetes, high blood pressure, hypertension, heart difficulties, and more. As per the medical journal, currently, hypertension affects an anticipated 26% of the world's population (972 million people), and the prevalence is anticipated to rise to 29% by 2025, owing mostly to increases in economically developing countries. These issues are hampering the growth of the Noodles Market.
Noodles Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Noodles Market. The top 10- Noodles top 10 companies include:
- Beltek Foods
- Mandarin Noodle
- Marico Ltd
- Master Kong
- Nissin Foods
- Nong Shim
- In February 2021, Marico Ltd packaged consumer goods company, announced its entry into the instant Noodles Market under the Saffola Oodles brand. Company focusing on strengthening its foothold in the healthy, ready-to-cook snacking category. This product is available on a company’s direct-to-consumer platform apart from an e-commerce store.
- In September 2020, Master Kong has launched the first kind of space noodles. The Company has signed an agreement with China Space Foundation (CSF) to launch these noodles. The company has vowed to contribute to the vigorous development of the aerospace industry based on the company's development strategy.
- In February 2019, Nestle India Ltd has launched Asian flavor-inspired noodles. The company aggressively launched new products to chase volume-led growth. Last year Nestle India launched Nescafe Ready-To-Drink cans, NesPlus, Maggi baked noodles, Maggi dip and spread, Nescafe coffee maker mug, and everyday Chai Life instant tea mix.
Report Code: FBR 0321
Report Code: FBR 0322
Report Code: FBR 0043
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