Viet Nam among three global largest instant noodles consumers
Viet Nam among three global largest instant noodles consumers
Viet Nam ranked third in instant noodles consumption after China/Hong Kong and Indonesia.
Around 7 billion packs of instant noodles were eaten in the country last year, according to the World Instant Noodles Association (WINA). The latest survey by Nielsen Viet Nam shows that the consumption rate has increased by 67 per cent. Viet Nam is home to about local and foreign instant noodles producers.
China is currently the world's highest consumer of instant noodles, but the growth rate in consumption is not as high as that of Viet Nam.
According to data from the WINA, the impact of the COVID-19 pandemic has caused a sharp increase in the demand for instant noodles around the world. The consumption demand of this product surged by 14.79 per cent year-on-year in 2020.
Statistics of the WINA show the Asian market was the biggest consumer of this product, accounting for 56.45 per cent of the total global instant noodle consumption last year, especially in Northeast Asian countries such as China, the Republic of Korea, and Japan.
With the five main markets, Indonesia, Viet Nam, the Philippines, Thailand and Malaysia, the Southeast Asian region accounted for 25.24 per cent of the total demand.
According to a market research report of Facts and Factors, revenue from noodles is expected to increase to US$73.55 billion over the next five years from $45.67 billion in 2020.
A number of Vietnamese companies recorded a 300-per cent surge in the noodle export output. Instant noodles made in Viet Nam have been sold in more than 40 countries worldwide.
