A new report by MarketResearch.biz predicts the global market for ramen noodles will increase by more than $35 billion by 2033, from $57.92 billion in 2023 to $94.1 billion, with a compound annual growth rate (CAGR) of 5.11%. In 2022, the global consumption of instant noodles reached a record 121.2 billion servings, up 2.6% from the previous year, according to the World Instant Noodles Association.
The report cites a number of factors contributing to the robust forecast, including an ever-increasing demand for convenience foods by consumers—something ramen noodle packages and cups have always had—and consumer demand for flavor variety, with ramen manufacturers like Nissin responding with new flavor combinations tailored for global and regional tastes. This ties into the trend of consumer demand for gourmet experiences within the convenience food sector.
One area the research cites as a possible roadblock to reaching that lofty 2033 market number is the lack of nutrition in basic packaged ramen noodle kits, which can be high in sodium, preservatives, and MSG. The report notes that ramen noodles are increasingly scrutinized by today's health-conscious consumers, and their dietary preferences prioritize nutritional value over convenience, leading to a reduction in ramen noodle consumption or a complete avoidance of the product. Such health concerns directly impact the market's growth as consumers look for healthier meal solutions that do not compromise their dietary goals.
