Instant Noodles Market Analysis & Forecast in India, 2018 to 2023: Projecting a CAGR of Approx 5.6% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 25, 2019--The “Instant Noodles Market in India (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.
According to the World Instant Noodles Association, India is the fourth-largest instant noodles market, globally, and accounted for 5.4 Bn servings in 2017. Consistent growth, and an ever-growing consumer acceptance have made this market a lucrative option for various players.
The instant noodles market in India was valued at INR 93.66 Bn in 2017, and is expected to expand at a compound annual growth rate (CAGR) of ~5.6% during 2018-2023.
Among the various companies operating in the market, Nestle enjoys the highest market share (~60%), followed by ITC. Owing to its high rate of market penetration, Nestle could retain its popularity even after the ban on the marketing and sales of Maggi, because of the presence of excessive levels of lead, by the Indian government, in 2015. Following this, most companies focused on launching healthier versions of noodles using vegetables, atta, and oats.
The market is infested with several players, including Nestle India Ltd. (Maggi), ITC Ltd. (Sunfeast Yippee Noodles), Hindustan Unilever Ltd. (Knorr Soupy Noodles), GSK Consumer Healthcare Ltd. India (Foodles), Indo Nissin Ltd. (Top Ramen), and CG Foods India Pvt. Ltd. (Wai Wai), among others.
A growing millennial population, and increasing customers who are working-class are driving the consumption of packaged food products, such as instant noodles, in India. Also, the companies have recently introduced several products, which are distinctive in terms of new flavors, healthy ingredients, and packaging. Depending on these factors, consumption of instant noodles has been increasing at a considerable rate in India, during the past few years.
A large part of the population comes from the middle or lower-middle class. Therefore, price sensitivity plays a significant role in hindering the growth of the instant noodles industry across the country. Most people in rural areas are unaware of the various brands that are available unless they see them at their local store. Hence, lack of a well-established distribution network acts as a challenge for the instant noodles market in India.
Key Topics Covered
1. Executive summary
2. Socio-economic indicators
3.1. India instant noodles market definition and structure
4. Global instant noodles market
4.1. Market overview
4.2. Global instant noodles market demand - top 15 countries (2013-2017)
4.3. Global instant noodles market per capita consumption - top 3 countries (2016)
5. India instant noodles market
5.1. Market overview
5.2. Instant noodles market size and growth forecast (2016-2023e)
5.3. Instant noodles market - company-wise market share (2017)
5.4. Porter’s five forces analysis
6. Key market opportunities
7. Trade analysis
7.1. Export of instant noodles
7.2. Import of instant noodles
8. Key growth drivers of the market
9. Key deterrents to the growth of the market
10. Competitive landscape
10.1. Capital Foods Pvt. Ltd.
10.1.1. Corporate information
10.1.2. Business description
10.1.3. Products and services
10.1.4. Key people
10.1.5. Financial snapshot (total income, net profit/loss)
10.1.6. Key ratios
10.1.7. Key financial performance indicators
10.1.8. Business segments, geographical segments
10.2. CG Foods India Pvt. Ltd.
10.3. GSK Consumer Healthcare (India) Ltd.
10.4. Hindustan Unilever Ltd.
10.5. Inbisco India Pvt. Ltd.
10.6. Indo Nissin Foods Pvt. Ltd.
10.7. ITC Ltd.
10.8. Nestle India Ltd.
10.9. Patanjali Ayurved
10.10. Thai Preserved Food Factory Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/kb3hnf/instant_noodles?w=4
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Related Topics:Pasta and Noodles
KEYWORD: ASIA PACIFIC INDIA
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 03/25/2019 01:48 PM/DISC: 03/25/2019 01:48 PM