1、 Overview
Instant noodles, also known as instant noodles, fast food noodles, instant noodles, etc., are noodles that can be cooked with hot water in a short time. There are many kinds of instant noodles, which can be divided into bagged instant noodles and cup noodles according to the packaging method; It can be divided into soup noodles and mixed noodles according to the cooking method; According to the processing method, it can be divided into fried instant noodles and non fried instant noodles
2、 Drivers
A. Policy
As an important part of China’s food industry, the development of instant noodles has been highly valued by relevant national departments. In order to standardize and encourage the development of the industry, the relevant national departments have successively issued a series of relevant policies, providing a good policy environment for the development of the industry.
B. Economy
With the continuous development of China’s economy and the improvement of residents’ disposable income, the consumption expenditure of residents is also growing. People’s consumption expenditure on food is increasing. As the food favored by people in the fast-paced life, instant noodles have a broad development space in the industry under the growing consumer demand. According to data, in 2021, the per capita expenditure on food, tobacco and alcohol in China will reach 7172 yuan, up 12.2% year on year.
3、 Industrial chain
The upstream of the instant noodle industry chain is mainly composed of wheat flour, meat products, vegetables, palm oil, additives and other raw materials; The middle reaches are the production and supply of instant noodles, while the lower reaches are the sales channels such as supermarkets, convenience stores, e-commerce platforms, and finally reach the end consumers
4、 Global Status
A. Consumption
As a simple and convenient noodle food with unique flavor, instant noodles are gradually favored by consumers with the accelerating pace of life in recent years. In recent years, the consumption has gradually increased. The outbreak of the epidemic in 2020 further promoted the growth of instant noodles consumption. According to data, the global consumption of instant noodles will reach 118.18 billion in 2021, with a year-on-year growth
From the perspective of global consumption distribution of instant noodles, China is the largest consumption market of instant noodles in the world. According to data, in 2021, China (including Hong Kong) will consume 43.99 billion pieces of instant noodles, accounting for 37.2% of the total global consumption of instant noodles, followed by Indonesia and Vietnam, accounting for 11.2% and 7.2% respectively.
B. Average daily consumption
With the continuous growth of the consumption of instant noodles, the global average daily consumption of instant noodles is also increasing. According to data, the average daily consumption of instant noodles in the world increased from 267 million in 2015 to 324 million in 2021, with a compound growth rate of 2.8%.
C. Per capita consumption
From the perspective of the global per capita consumption of instant noodles, Vietnam will exceed South Korea for the first time in 2021 with the per capita consumption of 87 portions per person, becoming the country with the highest per capita consumption of instant noodles in the world; South Korea and Thailand ranked second and third in terms of per capita consumption of 73 and 55 portions per person respectively; China (including Hong Kong) ranks sixth with the per capita consumption of 31 shares per person. It can be seen that although the total consumption of instant noodles in China is far higher than that in other countries, the per capita consumption is still far behind Vietnam, South Korea and other countries, and the consumption space is broad.
If want more, please see the following update
Post time: Oct-31-2022