Press Release

A USD 16.78 Billion Global Noodles Market to Reach USD 21.32 Billion Mark by 2030 With a CAGR of Around 3.42%

The Global Noodles Market size was valued at around USD 16.78 billion in 2023 and is projected to reach around USD 21.32 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.42% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. Consumer preferences, particularly among millennials, are driving the market towards an increased demand for regional and ethnic flavors in cuisine. This has resulted in the particular popularity of varied Asian cuisines such as Chinese, Korean, or Vietnamese, with noodles being a popular dining item. Consequently, this change is spurring growth all over the world. In response to evolving customer demands, companies continually diversify their offerings through innovative means.

The progression of the restaurant revolution in the food service industry has resulted in a surge of newly established eateries, sophisticated dining options, and cost-effective pricing strategies. A prominent budget choice on menus is noodles with an array of associated dishes such as soupy noodles, Egg Noodles, Rice Stick Noodles, etc. Furthermore, fast-food globalization has transformed the culinary landscape by boosting global noodle consumption rates, which are projected to spur market growth in the coming years.

Additionally, the health-conscious population, especially younger demographics, is driving a notable transition towards using craft and artisanal noodle ingredients. As such, there is an increasing trend of artisanal noodles being favored due to their emphasis on offering nutritional and functional advantages.

In today's highly competitive F&B industry, premiumization is a critical component for businesses to differentiate themselves. The incorporation of natural additives into noodles, known as premiumization with natural additives, has also contributed significantly to the global growth of the noodle market. As only a few companies have integrated these ingredients into their products in recent years, sustained market expansion in this area is expected, further states the research report, “Global Noodles Market Analysis, 2024.”

Segmentation Analysis

Instant Noodles Holding the Major Market Share

Based on the type, the market is further bifurcated into dried, instant, and frozen segments. The majority of the global market share belongs to instant noodles, owing to factors such as convenience, affordability, universal appeal, and innovative food products. This fast-paced meal option is particularly suitable for busy individuals, including students seeking a quick-fix solution. Instant noodles are an affordable alternative concomitant with wider accessibility among consumers, even in lower-income brackets. The wide acceptance of this noodle variant transcends cultural barriers due to its adaptability to varied cuisines and flavor preferences, resulting in massive popularity worldwide.

The dynamic instant noodles market continues to innovate, producing new & exciting flavors, healthier options, and improved product quality. These advancements have succeeded in keeping consumers engaged with the industry as it grows due to factors such as cultural significance, evolving lifestyles, shifting health preferences, and increasing globalization.

Asia-Pacific Leads the Global Noodles Industry

The Asia-Pacific region is gaining prominence as a frontrunner in the Global Noodles Market. A range of factors, including cultural preferences, affordability, and availability, significantly impact product differentiation. Moreover, distinctive local flavors and regional variances play a pivotal role in this trend's development. Ready meals have had enduring popularity across APAC nations, with instant noodles enjoying particular longevity within that category. Major contributors such as China, Japan, South Korea, India, and Indonesia are the driving forces behind the significant consumption of instant noodles in this region.

Furthermore, the rising tourist arrivals in Asia-Pacific countries have encouraged the expansion of various restaurant chains across the countries. Hence, this has positively impacted the market of noodles in the Asia-Pacific region.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Nissin Foods Holdings Co. Ltd., Mandarin Noodle, Sun Noodle, Yau Kee Noodles Factory Ltd., Sakura Noodle Inc., Acecook Vietnam Joint Stock Co., Samyang Foods Co., Ltd., Lotus Foods, Ebro Ingredients (Ebro Foods), Nongshim Co., Ltd., House Foods Group Inc., Ottogi Co. Ltd., Nestle SA, Sanyo Foods Corp. of America, Thai President Foods Public Co. Ltd., and Others (Capital Foods Pvt. Ltd., etc.) are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?