Global demand for instant noodles fell by 0.8% for the first time, but Nissin Foods’ revenue bucked the trend and grew by 5.5%.
TOKYO, JAPAN (Merxwire) – Instant noodles are prevalent in the global market, but international demand for instant noodles declined for the first time in 2023, with a decrease of 0.8%. According to World Instant Noodles Association data, global demand for instant noodles in 2023 will be 120.21 billion servings, a slight decrease compared with last year (121.2 billion servings). This decline was mainly affected by the rebound in global demand for eating out, with sales in major markets such as China, Japan, and the United States all showing negative growth. Despite the overall decline in demand, Japan’s Nissin Foods bucked the trend and grew, with revenue rising 5.5%, consolidating its leading position in the market.
Although global demand for instant noodles fell, demand for cup noodles bucked the trend and increased by 1.4%, reaching 26.92 billion servings. The only markets with a demand for cup noodles exceeding 1 billion are China (including Hong Kong, with 12.72 billion servings) and Japan (3.88 billion servings). With its diverse cup noodles products and promotional activities, Nissin Foods has attracted consumers seeking convenience and delicious taste, making it a daily meal deeply embedded in Japanese food culture.
Nissin Foods’ report shows that the company’s sales of cup instant noodles, bagged instant noodles, and cup rice products have increased. Although rising raw material prices led to higher costs, sales growth boosted operating profits. Nissin Food’s revenue reached 232.221 billion yen, a year-on-year increase of 5.5%; Operating Income reached 29.741 billion yen, a year-on-year increase of 11.0%.
In addition, a consumer survey by the Japanese marketing website J-marketing-net showed that Nissin Food’s CUPNOODLE ranked first in indicators such as awareness, purchase experience, recent purchase volume, and future purchase intention. Compared with the second-placed “Red Fox/Green Raccoon (Toyo Suisan)” and “Nissin Bowl Kitsune Udon,” Nissin cup noodles have a clear market lead of more than 15 points.
Nissin Food Group’s CUPNOODLE MUSEUM is also very popular among tourists in Osaka, Yokohama, and Hong Kong branches. The museum displays the history and invention of instant noodles and provides experience activities for making homemade noodles and cup noodles. It has attracted more than 20 million visitors since its opening.