Research and Markets/ The global market for Instant Noodles estimated at US$31.1 Billion in the year 2020, is projected to reach a revised size of US$38.5 Billion by 2027, growing at a CAGR of 3.1% over the period 2020-2027.
Packet, one of the segments analyzed in the report, is projected to record 3% CAGR and reach US$24.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cup / Bowl segment is readjusted to a revised 3.3% CAGR for the next 7-year period.
The U.S. market is estimated at $8.4 billion, while China is forecast to grow at 5% CAGR
The Instant Noodles market in the U.S. is estimated at US$8.4 Billion in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$7.5 Billion by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
