Global Instant Noodles Market to Exceed 154 Billion Packs by 2017, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Instant Noodles markets. The world market for Instant Noodles is forecast to exceed 154 billion packs by the year 2017, driven by factors such as minimal cooking time, wide variety of taste and flavor profiles, and low cost of instant noodle products. Other factors such as food globalization, increasingly hectic lifestyles, lesser meal cooking time at home and increasing number of working women also bode well for the instant noodles market. Once the mainstay of the oriental East, Instant Noodles today continue to swell in popularity and fire the appetites of people all over the world.

Instant Noodles: A Global Strategic Business Report

Follow us on LinkedIn – Instant noodles, also known as instant ramen, has created an instant renaissance in the world food industry. The product which represented the first ready-to-eat food launched in the global food industry has become the precursor to a slew of modern semi-processed, ready-to-cook foods available in the market. Emerging from being just a quick and delicious alternative to pasta or rice to be consumed only on heady days, instant ramen has become a modern lifestyle trend symbolic of convenience, quality, and health.

The once humble ramen with its modest taste and flavor profile has now emerged as an haute multi-flavored cuisine. Instant ramen consumption knows no border, and although Asia is the largest consumer of the product, the West, of late, is also raking in considerable demand, driven largely by the rapidly expanding Asian communities in the West, and the growing popularity of Asian gourmet food among non-Asians. With noodles being customized for each regional buyer all over the globe, the ubiquitous, and cheap rectangular cubes of flash dried and dehydrated noodles is today a global food. Key factors instrumental in instant ramen’s evolution into the world’s staple food include – its low cost, wide variety of taste and flavor profiles, and minimal cooking time. Driving the demand for instant noodles, in addition to convenience, is the consumer perception of the product as being an attractive substitute for regular and boring meals. The overwhelming pace of modern day lifestyle brought about a palpable shift in eating habits with demand for more convenience and ready foods. In addition, rapidly changing aspirational lifestyle needs of a prospering marketplace, led to the emergence and popularity of gourmet Instant Ramen. The once humble ramen with its modest taste and flavor profile is now an haute multi-flavored cuisine with typical flavors including beef, pork, chicken, and squid, among others.

Demand in the future will stem from countries presently not ranked among the top consuming countries worldwide. Driving forces will include product characteristics such as lesser cooking time, anytime-anywhere consumability, affordability, hygiene, safety and nutrition. Innovation in flavors will however represent a key factor, kindling consumer interest. Adding to the long list of flavor innovations will be original flavor enhancements such as Chinese style wakame (seaweed), Indian style masala, and curry flavors, kimchi or Korean hot pickle flavors, tomato-basil, and seafood, or harusame (bean-starch) flavors, among others. Given, the unimaginable variety in satisfying flavors, instant noodles add a new dimension to traditional meals in countries worldwide.

Disposable income and purchasing power parity of consumers in various regions across the globe represent major economic factors that influence the demand, and consumption for instant noodles. Typically, consumers with higher disposable income consume higher amounts of instant noodles. Indonesians spend more than 70 percent of their disposable income on instant noodle products, trailed by Chinese consumers, who spend about 56 percent of their income. South Korean consumers spend 33.2 percent, closely followed by Thai consumers with 30 percent. Mexicans and Indians, on the other hand, spend a very small percentage of their incomes on instant noodles partially due to the purchasing power parity and partially due to a vast difference in culinary cultures.

Unlike in other parts of the world, Instant Noodles is a mainstream food category in Asia-Pacific, making it the single largest producer and consumer in the world, as stated by the new market research report. The region, led by relentless demand from the Chinese and Hong Kong markets, is portended to continue its dominance over the coming years. Emerging over the Asian horizon is China that is recording massive production and consumption figures. With relatively low annual per capita consumption levels compared to other Asian counterparts, China represents a potential market for instant noodles. Instant noodles in Middle East/Africa are experiencing a growth in the demand, with the introduction of newer products into the market and are poised to grow at a strong compounded annual growth rate (CAGR) over the long-term.

Major players profiled in the report include Acecook Vietnam Co., Ltd., Ajinomoto Company Inc., Blue Dragon, CJ Corporation, HJ Heinz Co., Ltd., Kohlico, MAMEE-Double Decker (M) Berhad, Nestlé India Ltd., New Dragon Asia Corp., Nissin Food Products Co., Ltd., Nong Shim Co., Ltd., Pt. Indofood Sukses Makmur TBK, Samyang Foods Co., Ltd., Sco-Fro Foods Ltd., Tat Hui Foods Pte Ltd., Thai President Foods Public Company Limited, Tingyi (Cayman Islands) Holding Corp., Toyo Suisan Kaisha, Ltd., and Uni-President Enterprises Corp.

The research report titled “Instant Noodles: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the instant noodles markets, impact of recession, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East/Africa and Latin America. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Instant_Noodles_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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