Noodles Market size is estimated to be $17 billion in 2019, growing at a CAGR of 3.4% during the forecast period 2020-2025.Changing lifestyle, hectic schedules coupled with working population along with the increasing demand of quick meals which require less time for cooking is a significant factor driving the Noodles Market during the forecast period 2020-2025.Noodles are staple foods in many Asian Countries. In addition instant noodles are internationally well-known food and the consumption worldwide is on the top. Furthermore instant noodles have properties such as nutrition, taste, safety, convenience and reasonable price and longer-shelf life makes its popular. Furthermore, noodles are unleavened dough which is stretched, rolled fat, or extruded snacks which is cut into a variety of shapes. It is made from wheat flour water, salt, starch, salt or kansui and other ingredients which enhance the flavor and texture of noodles being cooked partially by steaming and cooked further or dehydrated by deep frying process. Instant Noodles are precooked or dried noodles fused with oil and sold with a flavoring packet.
By Type- Segment Analysis
By Type Egg Noodles accounted for the largest market share in 2019 owing to its health benefits along with increasing demand of people for variation in flavor and ingredients in noodles. Moreover, egg noodles are significant source of a number of vitamins and minerals and are especially a good source of B vitamins, including riboflavin, thiamine, folate and niacin, meeting more than 10% of daily value. In addition Vitamin B serves as a great source of energy, regulate appetite, assist in the eye and vision health and plays a role in the production of red blood cells. Hence, these are the key benefits attracting large number of consumers towards it which in turn is boosting the noodles market during the forecast period 2020-2025.
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By Distribution Channel- Segment Analysis
Based on Distribution Channel the Noodles market is segmented into Supermarket, Hypermarket, Convenience stores, Specialist Retailers, Online Sales Channel and others. The availability of Instant Noodles, Packaged Food Products, and extruded snacks at convenience stores, hypermarket is further contributing to its market growth. Moreover, according to Statista the market size of noodles in India is estimated to be 1.87 billion.
Geography- Segment Analysis
APAC dominated the Noodles Market with a region share 36% in 2019 followed by North America and Europe. Rising population along with the increase in demand of instant noodles is a major factor driving its market. In addition, noodles serves as main cuisine in China which is another factor contributing to its market growth in that region. Furthermore, consumers desire to switch from eating enough to eating well, instant noodles manufactures have launched several premium products to cater this trend in China which in turn is boosting its market growth. Furthermore, the presence of major players in that region is also contributing to its market growth.
Drivers – Noodles Market
Increasing Demand Of Noodles Among Working Population
Hectic Schedules among working population has increased the demand of ready to eat meals such as noodles which in turn is allowing manufactures to develop new products with innovative taste and flavor which in turn is boosting its market. Furthermore, noodles serves as great source of B vitamin and energy which is increasing the purchasing power of consumers and driving its market growth.
Increased shelf-life of noodles is a major driving the Noodles Market during the forecast period 2020-2025.Futhermore, on an average noodles from the date of manufacturing have a shelf-life of 2-12 months which a significant factor for consumers purchasing it and storing it for longer duration. Furthermore, the self-life is usually of the effect of monolaurin microemulsion (MME) as antimicrobial agents in food especially in neutral foods such as noodles.
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Challenges – Noodles Market
High Cost of Noodles
High Cost of Noodles serves as a major setback for the growth of the Noodles Market during the forecast period 2020-2025.Owing to its high cost the lower and middle people are unable to purchase it which in turn is restraining its market during the forecast period 2020-2025.
Noodles Market Industry Outlook
Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in Noodles Market. Noodles Market top 10 are Nestle India Ltd, ITC Ltd, Hindustan Unilever Ltd, GSK Consumer Healthcare Ltd, CG Foods India Pvt Ltd, Capital Food India Ltd, Nissin, Patanjali, Hul Knorr and Top Ramen.
June 2019: Nestle introduced Maggi Fusian Noodles- a range of Asian Flavor inspired noodles.
Egg Noodles accounted for the largest market share in 2019 owing to its health benefits along with increasing demand of people for variation in flavor and ingredients in noodles.
The convenience stores are projected to be the fastest growing with a CAGR of 2.6% during the forecast period 2020-2025. This is owing to their ability to offer large number of products to its customers in one place.
Asia-Pacific dominated the Noodles Market in 2019 owing to the rising population along with the increase in demand of instant noodles is a major factor driving its market.
Increasing demand of noodles among working population is a major factor driving the noodles market during the forecast period 2020-2025.
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