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The global instant noodles market reached a value of US$ 47.08 Billion in 2020.
According to the estimates by IMARC Group, the global instant noodles market is expected to grow at a CAGR of 5% during 2021-2026.
Rapid urbanization, busy lifestyles and changing dietary patterns are increasing the demand for ready-to-eat (RTE) food products, such as instant noodles, as they require minimal cooking skills and time.
The key players are providing a wide range of both vegetarian and non-vegetarian product variants with unique flavors, textures and seasonings to cater to a diversified consumer base with distinct flavor inclinations.
The coronavirus disease (COVID-19) outbreak, consequent lockdowns implemented by governments of several countries and temporary closure of restaurants and other food outlets have led to a rise in the demand for instant noodles. However, market players are unable to meet the escalating demand due to the labor shortage and disrupted supply chains.
On the basis of the type, the market has been bifurcated into fried and non-fried instant noodles.
Based on the distribution channel, the market has been classified into supermarkets/hypermarkets, specialty stores, convenience stores, online stores and others.
On the geographical front, the market has been segmented into the United States, the Republic of Korea, China, Indonesia, Japan, India, Vietnam, Thailand, Saudi Arabia and others.
Leading industry players are Master Kong (Shenyang) Instant Noodle Foodstuff Co., Ltd., Hebei Hualong Food Group, Indofood Group, Nissin Food Products Co., Ltd., Nestlé S.A. and Acecook Vietnam Joint Stock Company.
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