Asia-Pacific is the most attractive Instant Noodles market in the world. Instant Noodles market started in Asia-Pacific countries. In 1958, Momofuku Ando of Japan invented instant noodles. His achievement has brought a revolution in food industry and now each and every country has its own instant noodles company. In 1971, he developed 1st cup noodles, which is still in nascent stage in most of the countries. Another achievement of Momofuku Ando was developing Space Ram, which can be consumed in space. Space Ram is carried in space by Japanese astronaut Soichi Noguchi aboard the Space Shuttle Discovery in July 2005.
Instant noodles is speeded to China, Taiwan, Malaysia, Singapore and Hong Kong in just 5 years of its invention. Currently, 90 countries around the globe manufactures instant noodles and consumed by all the nations. China (including Hong Kong) is the biggest market of Instant Noodles in the world followed by Indonesia, Japan and India. China has a market share of 43.2% of world’s Instant Noodles market. USA and Brazil are the only two Non-Asian countries which made in the list of top 10 Instant noodles market. “WINA” (World Instant Noodles Association) is constantly trying to increase the reach of instant noodles throughout the world. WINA helped many countries like China, India, Philippines, USA, Austria, Switzerland, Slovakia, Germany, Czech, Hungary, Poland, Thailand, Japan, Brazil, Myanmar and many more in times of disaster by sending them instant noodles in disaster effected regions.
Recent Ban on Maggi; a Nestle India product have created a negative buzz in the market. Not just USA, UK, Australia, Vietnam, India and many other countries have tested the quality of Maggi and quantity of lead content in it. All the countries including India have found lead is in acceptable limits and now Maggi is looking to revive its market in the country. Although, Nestle has to destroy Maggi worth Rs. 56 Crore because of high lead content and registered a loss of more than Rs. 60 Crore in July-September Quarter in India, which is the first time when Nestle India faced a loss in past 3 decades. Market witnessed a growth of 1.75% from 2010 to 2014. Despite of ban on instant noodles in India for short time, instant noodles market will witness a growth of 2.14% till 2020.
Growing youth segment and increasing working population, rising incomes and rising purchasing power, higher brand consciousness, changing consumer preference, growing urbanization and Increase in number of middle class population are the biggest drivers in the growth of Instant Noodles industry of Asia-Pacific. Also, lack of time, fast paced life and changing food preferences are also helping Instant Noodles sector to grow in Asia-Pacific.
Instant Noodles Industry in Asia-Pacific unlike other emerging economy is still very nascent in nature and is largely controlled by few Cooperatives and Independent Instant Noodles companies. Street markets play an important role in the Instant Noodles industry of Asia-Pacific as most of the population does their shopping here.
Apart from Maggi, major brands which successfully gained a market share are Top Ramen, Yippee, Ching’s Secret, Knorr, Wai-Wai, MyKuali Penang, MyOri Malaysia, CarJEN, Mamee, MAMA and others. There are thousands of brands available in Asia-Pacific and the market is still open for any new entry with smart product. Recently Patanjali Group has launched Noodles in India with name “Patanjali Atta Noodles” and they are promoting it as healthy noodles made from wheat floor. Patanjali is growing towards the biggest FMCG Company in India with a share of 11.8% in FMCG sector as of now.
What the report offers
The study elucidates the situation of Asia-Pacific and predicts the growth of its Instant Noodles Market. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Instant Noodles Sector of Asia-Pacific. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector.
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