Vietnam is the 4th largest consumer of instant noodles in the world.

Global demand for instant noodles rose to a record 121.2 billion packets last year, according to newly released industry figures, up for the seventh straight year and setting several new records.

The number of noodle packets sold globally in 2022 rose nearly 2.6% from 2021, according to the Osaka-based World Instant Noodles Association (WINA). The figure is based on data from about 56 countries around the world.

China (including Hong Kong) was the world’s leading instant noodle market last year. Indonesia ranked second, followed by India, Vietnam and Japan.

 

 

In 2020, when many people were forced to stay at home due to the COVID-19 pandemic, global demand for instant noodles increased by 9.5%. This growth decreased to 1.4% in 2021 and increased sharply again in 2022.

Last year, food prices in many countries increased due to high inflation, so many consumers turned to instant noodles, a reasonable price option.

Mexico leads the world in instant noodle demand growth, rising 17.2% in 2021 and 11% in 2022. In contrast, in the North American market, demand decreased by 1.4% in 2021 and then recovered to 3.4% in 2022.

Instant noodles are popular throughout Asia, where soupy foods have become part of the culture, but demand for instant noodles is also growing in countries like the US and Mexico, where this culture was previously non-existent.

“Middle-class consumers who did not eat instant noodles before are now getting used to having them in their daily lives, mainly due to inflation,” said a representative of Japanese instant noodle manufacturer Nissin Foods.

Business results have shown this clearly, with Nissin Foods and another leading Japanese instant noodle company Toyo Suisan both reporting a surge in profits from overseas markets in the fiscal year ending March 2023. Both companies plan to open factories in the US by 2025 to meet growing demand in the US and Mexico.

“The number of regular instant noodle eaters is increasing and we will add more new flavors,” Toyo Suisan emphasized.

In 2022, major instant noodle companies will increase prices by about 10% and in 2023, another 10% due to rising raw material and packaging costs. It is quite unusual for prices to increase by 10% in two consecutive years, however, sales volume has not decreased much.

In addition to affordable instant noodles, consumers also want products that save them time and provide high nutritional value. Instant noodle manufacturers are working hard to improve their products by making them more nutritious and using better ingredients.

According to a recent report by Vantage Market Research (India), the global instant noodles market was valued at $52.65 billion in 2022 and is expected to reach $79.58 billion by 2030. The report said the industry is expected to grow at an average compound annual growth rate of 5.3% between now and the end of the decade.