World Instant Noodles Market to Reach 158.7 Billion Packs by 2010, According to New Report by Global Industry Analysts
Driven by the ever-rising demand for convenience foods, and continuous innovation in product flavors and packaging, the world instant noodles market is projected to reach 158.7 billion packs by the year 2010.
San Jose, CA (PRWEB) April 21, 2008
One of the strongest and enduring growth drivers in the world instant noodles market (http://www. strategyr. com/Instant_Noodles_Market_Report. asp) is the truly functional concept of convenience epitomized and embodied by the product. In addition to convenience, other factors lending traction to the market's growth include easy preparation, preservability, affordability, rich taste, and numerous flavor choices. The market stands enthused by the increasing number of nuclear families, rise in disposable incomes, increased interest in ethnic eastern cuisines, and fast vanishing time, skill and knowledge of cooking. The proclivity of consumers to pay utmost attention to the nutritional value of food products is resulting in the growing popularity of vitamins, and minerals fortified instant noodles. This transition of instant noodles into a healthy, and nutritious food product marks the product's second stage of evolution, and is expected to offer expanded growth opportunities in the world market.
Asia-Pacific ranks as the largest and fastest growing market worldwide, with growth in this region stemming largely due to the widespread retail distribution system, and the massive levels of product innovation, and publicity undertaken. After decades of aggressively spearheading the development of instant noodles, Japan presently a mature market, is characterized by leveling consumption patterns, and increased product overcrowding, and is being eclipsed by the growing dominance of China.
Innovations in flavors, such as, Chinese style wakame (seaweed), Indian style masala, and curry flavors, kimchi or Korean hot pickle flavors, tomato-basil, and seafood, harusame (bean-starch) flavors, are expected to keep consumer enthusiasm, and interest alive. In addition, flavor innovations are also helping the humble instant noodles metamorphose into an haute multi-flavored cuisine. Gourmet-style instant noodles are witnessing increased demand despite their premium retail prices. As stated by the recent report published by Global Industry Analysts, Inc., Asia represents a large and a robust market for instant noodles flaunting a projected CAGR of 10.91% over the period 2011 through 2015. Rapidly growing Asian markets include Philippines, and Vietnam, which together are forecast to witness sales of approximately 13.8 billion packs by the year 2012. In the United States, and Europe growth in consumption is expected to stem from the growing popularity of Asian gourmet food among non-Asians, and the rapidly expanding Asian communities in the West.
Leading global and regional players operating in the industry include Nissin Food Products Co. Ltd., Acecook Vietnam Co., Ltd, Ajinomoto Company Inc., Blue Dragon, CJ Corporation, Fukushima Foods Company Ltd, Hebei Hualong Food Group Co. Ltd, HJ Heinz Co Ltd, Kohlico Group, Mamee-Double Decker (M) Berhad, Myojo Foods Company (Singapore) Private Limited, Nong Shim Co Ltd, Nestlé India Ltd, New Dragon Asia Corp., Pt. Indofood Sukses Makmur TBK, PT Jakaranatama Food Industry, PT Sentrafood Indonusa, Samyang Foods Co., Ltd, Sco-Fro Foods Ltd, Tat Hui Foods Pte Ltd, Thai President Foods Public Company Limited, Toyo Suisan Kaisha, Ltd, and Uni-President Enterprises Corp, among others.
The report titled "Instant Noodles: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market drivers, trends, issues, challenges, companies, products, and competition. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in global/regional markets. Latent demand patterns are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Russia, China/Hong Kong, Indonesia, South Korea, Vietnam, Philippines, Thailand, Latin America, and Middle East/Africa. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit
Http://www. strategyr. com/Instant_Noodles_Market_Report. asp (http://www. strategyr. com/Instant_Noodles_Market_Report. asp)
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyR. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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