Top Ramen Reoprt
Intro: According to a Japanese poll in the year 2000, "the Japanese believe that their best invention of the twentieth century was instant noodles."[6] As of 2010, approximately 95 billion servings of instant noodles are eaten worldwide every year. China consumes 42 billion packages of instant noodles per year – 44% of world consumption – Indonesia, 14 billion; Japan, 5.3 billion, Vietnam 4.8 billion, USA 4 billion. Per capita, South Koreans consume the greatest amount of instant noodles, 69 per capita per year.[7]Market analysis and trends:
The Indian Noodle market has shown a constant growth in its market penetration with increasing customer base. The value sales growth of the noodle market was 26% in 2012 with sales to Rs38.2 billion. The market is expected to grow at a constant value CAGR of 18% over the forecast period. Pouch instant noodles has registered the highest current value growth of 30% in 2012.But the average unit price has increase by 7% in current value terms in 2012.
Trends in Indian noodle market
Changing consumer lifestyles: Due to a tremendous change in the lifestyle of the modern man there has been a significant change in the food habits. Long working hours and more number of working women have decreased disposable time and thereby pushed up the demand for convenience foods and ready meals. Increasing number of nuclear families, rise in disposable incomes, young singles with little or no cooking skills, increasing awareness of healthy diets and increased interest in ethnic and international foods, represent additional factors that have a bearing on eating and food preparation habits.
Increase in the per Capita disposable income: The per capita disposable income of the Indian customer has increased by over 20% from 2006 to 2013, and has been predicted to increase by more than 50% from 2013 to 2020.This is a clear indication that the demand for noodles will increase in the coming years.
Growing customer base: The emergence of instant
The Indian Noodle market has shown a constant growth in its market penetration with increasing customer base. The value sales growth of the noodle market was 26% in 2012 with sales to Rs38.2 billion. The market is expected to grow at a constant value CAGR of 18% over the forecast period. Pouch instant noodles has registered the highest current value growth of 30% in 2012.But the average unit price has increase by 7% in current value terms in 2012.
Trends in Indian noodle market
Changing consumer lifestyles: Due to a tremendous change in the lifestyle of the modern man there has been a significant change in the food habits. Long working hours and more number of working women have decreased disposable time and thereby pushed up the demand for convenience foods and ready meals. Increasing number of nuclear families, rise in disposable incomes, young singles with little or no cooking skills, increasing awareness of healthy diets and increased interest in ethnic and international foods, represent additional factors that have a bearing on eating and food preparation habits.
Increase in the per Capita disposable income: The per capita disposable income of the Indian customer has increased by over 20% from 2006 to 2013, and has been predicted to increase by more than 50% from 2013 to 2020.This is a clear indication that the demand for noodles will increase in the coming years.
Growing customer base: The emergence of instant