The global pasta and noodles market is projected to register a CAGR of 4% during the forecast period 2022-2027.
The COVID-19 pandemic significantly affected the market. This was because consumers were locked in their homes, due to which the consumption of ready-to-eat products drastically increased during the pandemic. According to Korea Agro-Fisheries & Food Trade Corp., in May 2020, instant noodle exports from South Korea grew by around 39.6% compared to the same month in the previous year.
With the rising working culture among consumers, the affordability of time for the preparation of meals has reduced, and consumers are moving toward foods that can be consumed with convenience and require lesser time to prepare. Thus, the demand for pasta and noodles is rising and driving the market.
The increasing consumption of noodles and pasta, coupled with the wide availability of these products in different flavors and packaging through robust distribution channels, is strongly driving the market across the world.
Growing demand for gluten-free, clean-label products has boosted the market for gluten-free pasta and noodles. It has been noted that a majority of consumers are choosing the "free-from" concept to embrace a balanced lifestyle, and the trend of searching for gluten-free pasta in the United States increased from 63 in 2018 to more than 100 in 2022, with regions like New Hampshire, Connecticut, and Maine, among others, having a major interest. Thus, companies operating in the market studied have taken initiatives to invest in the development of native technologies in order to lure consumers. Alongside rice and corn, players are enriching products with new cereals, such as sorghum and teff, quinoa, amaranth, and buckwheat, or legumes such as red lentils, peas, and chickpeas, among others. For instance, in 2020, Jovial Foods Inc. announced the launch of a new line of grain-free cassava-based pasta.
Asia-Pacific is the fastest-growing market. Regional countries like India, Malaysia, Indonesia, and China play a significant role in escalating the market growth as preferences for the consumption of pasta/noodles are emerging among urban consumers in these regions. Among the 15 countries with the highest consumption of instant noodles, 10 were Asian countries. Thus, the market studied has experienced phenomenal success since its inception, with the launch of customized flavor variants that suit regional taste preferences by many global manufacturers, such as Nestle and Campbell. In terms of packaging, packet instant noodles and pasta is the most dominant category. Also, the cup/bowl instant noodles category and frozen pasta are expected to grow substantially due to enhanced convenience. In terms of size, the single pack is a leading category. Retail players also adopted the bundling strategy to drive the sales of larger units of noodles and pasta. Such strategies have yielded promising results in the region.
The pasta and noodles market is highly competitive in nature, with many regional and international competitors operating in the market. The major players are Unilever, Ebro Foods SA, Nestle SA, Barilla Holding SpA, and Nissin Food Products Co. Ltd. Companies compete based on different factors, including product offerings, quality, taste, flavors, price, functionality, size, packaging, and marketing activities, in order to gain a competitive advantage in the market. Key players are now focusing on social media platforms and online distribution channels for online marketing and branding of their products to attract more customers. Major players focus extensively on providing consumers with innovative and exotic flavors as well as attractive packaging. The sustainable competitive advantage through innovation is resulting in the growth of the market share of major players across the world.
This product will be delivered within 2 business days.
The COVID-19 pandemic significantly affected the market. This was because consumers were locked in their homes, due to which the consumption of ready-to-eat products drastically increased during the pandemic. According to Korea Agro-Fisheries & Food Trade Corp., in May 2020, instant noodle exports from South Korea grew by around 39.6% compared to the same month in the previous year.
With the rising working culture among consumers, the affordability of time for the preparation of meals has reduced, and consumers are moving toward foods that can be consumed with convenience and require lesser time to prepare. Thus, the demand for pasta and noodles is rising and driving the market.
The increasing consumption of noodles and pasta, coupled with the wide availability of these products in different flavors and packaging through robust distribution channels, is strongly driving the market across the world.
Key Market Trends
Increasing Demand for Gluten-free Pasta and Noodles
Growing demand for gluten-free, clean-label products has boosted the market for gluten-free pasta and noodles. It has been noted that a majority of consumers are choosing the "free-from" concept to embrace a balanced lifestyle, and the trend of searching for gluten-free pasta in the United States increased from 63 in 2018 to more than 100 in 2022, with regions like New Hampshire, Connecticut, and Maine, among others, having a major interest. Thus, companies operating in the market studied have taken initiatives to invest in the development of native technologies in order to lure consumers. Alongside rice and corn, players are enriching products with new cereals, such as sorghum and teff, quinoa, amaranth, and buckwheat, or legumes such as red lentils, peas, and chickpeas, among others. For instance, in 2020, Jovial Foods Inc. announced the launch of a new line of grain-free cassava-based pasta.
Asia-Pacific is the Fastest-growing Market
Asia-Pacific is the fastest-growing market. Regional countries like India, Malaysia, Indonesia, and China play a significant role in escalating the market growth as preferences for the consumption of pasta/noodles are emerging among urban consumers in these regions. Among the 15 countries with the highest consumption of instant noodles, 10 were Asian countries. Thus, the market studied has experienced phenomenal success since its inception, with the launch of customized flavor variants that suit regional taste preferences by many global manufacturers, such as Nestle and Campbell. In terms of packaging, packet instant noodles and pasta is the most dominant category. Also, the cup/bowl instant noodles category and frozen pasta are expected to grow substantially due to enhanced convenience. In terms of size, the single pack is a leading category. Retail players also adopted the bundling strategy to drive the sales of larger units of noodles and pasta. Such strategies have yielded promising results in the region.
Competitive Landscape
The pasta and noodles market is highly competitive in nature, with many regional and international competitors operating in the market. The major players are Unilever, Ebro Foods SA, Nestle SA, Barilla Holding SpA, and Nissin Food Products Co. Ltd. Companies compete based on different factors, including product offerings, quality, taste, flavors, price, functionality, size, packaging, and marketing activities, in order to gain a competitive advantage in the market. Key players are now focusing on social media platforms and online distribution channels for online marketing and branding of their products to attract more customers. Major players focus extensively on providing consumers with innovative and exotic flavors as well as attractive packaging. The sustainable competitive advantage through innovation is resulting in the growth of the market share of major players across the world.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nestle SA
- The Campbell Soup Company
- Unilever Plc
- Ebro Foods SA
- ITC Limited
- Mr Lees Noodles
- Nissin Food Products Co. Ltd
- Wang Ramen
- Indofood CBP
- Barilla Group
Methodology
LOADING...
