What you need to know
The instant foods market is experiencing positive, growing demand, and has seen more product formats introduced to fulfil consumers’ demand for convenience, ease-of-use and nutrition. Premiumisation, innovation in healthy production methods, and the expansion of regional noodle dishes through online channels have all contributed to driving the growth of instant noodles. Producers could benefit from targeting specific dining occasions. Self-heating foods, on the other hand, should secure a place in the market by growing the heavy user base. Brands should maintain loyal customers on their online platforms and utilise offline channels to attract curious new customers. Products will also see upgrades in ingredients, flavour varieties, and safety measures.
As for market size, Mintel estimates the instant noodles market now stands at RMB 81.6 billion in 2019, accounting for 92.4% of the total instant foods market, having rebounded after a slump from 2014-2016. It is projected to reach RMB 101.6 billion in 2024. Self-heating foods stand at only RMB 7.1 billion, but are growing at a faster rate, expanding their market share.
Included
This Report looks at consumer recognition, purchase and consumption habits of, and expectations towards, instant foods.
Analysis and sizing include instant noodles and self-heating foods. Instant noodles comprise noodles soaked in hot water, noodles boiled in a pot, dry mixed noodles or instant rice noodles and vermicelli. Self-heating foods are self-heating hotpot, rice, and barbeque. The forecast includes instant noodles.
