Instant noodles industry
Global instant noodles Industry pattern
The focus of instant noodles globalization lies in Asia, especially China. The main consumption market of instant noodles is in Asian countries, and accounts for about 90 percent of the world's total. And China's production volume of instant noodles accounts for about half of the world's total. The reason why the instant noodles industry is developing rapidly in Asia is due to regional cultural and the rapid development of China's instant noodles industry.
Analysis of China's instant noodles industry
China's instant noodles industry, after 30 years of development, is on its way to glory. In 2010, the industry reached a new high and led convenience food industry sales. In the convenience food industry, 90 percent of the market share goes to the instant noodles industry, whose branch industries are also becoming increasingly supplementary and diversified. Statistics from the World Association of Instant Noodles showed that in 2010, the annual sales volume of instant noodles in China amounted to 42.2 billion servings, half of the world's total.
Presently, China's instant noodles industry sees growth in product added value and firm size. In addition, the market is increasingly mature and diversified. However, the market also has encountered price cut-down, market disorder and a lack of development guidance.
Development course of China's instant noodles industry
Instant noodles, one of the greatest inventions in the 20th century, were invented by Mr. Ando, a Japanese citizen, in 1958. In the early 1970s, instant noodles were introduced into China. In 1988, the production quality standard was set in China. Yet the rapid development of the industry began from the 1990s, when the brands Master Kong and President came into China successively. With advanced production equipment, R & D of flavor technology, top management concepts and marketing strategy, these enterprises soon gained popularity nationwide. What followed was the rapid development of China's flour industry. Hereafter a host of brands made their way into China, adding to the popularity of instant noodles in China. Over the past 30 years, the industry has brought people convenient and delicious instant noodles.
In particular, the rapid development of the industry began with the coming of Master Kong in 1992, after which the low-quality, low-cost and low-margin status of instant noodles was greatly changed. Braised beef noodles, a symbol of the Master Kong brand, sells well nationwide, and is the most popular mainstream instant noodle in China. Moreover, multiple types of noodles have been developed. At present, Master Kong leads the industry, followed by Jinmailang, President and Baixiang. Second-level enterprises also see emergence of new brands.
Judging product demand, instant noodles are becoming increasingly high-end. Previously, instant noodles were viewed as a luxury item, and were even positioned as festive gifts for relatives in rural areas. Modern instant noodles are becoming more delicious and healthy. The instant noodles industry, to attract more consumers, is gradually moving its consumer base from cities to the countryside. With entrenched consumer focus, manufacturers are beginning to adjust their product positioning, pricing and marketing strategies to attract more consumers. With the improvement of living standards and the growth of spending power, consumers have become more mature and a single taste fails to attract them. So, more brands and flavors are to be expected. Surveys show that the penetration rate of the instant noodles industry has reached 100 percent, popular throughout the entire public.