Project report for Instant Noodles

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Introduction

There is an high market potential for Instant noodles in India. Instant noodles, or instant ramen, are noodles sold in a precooked and dried block with flavoring powder or seasoning oil. The flavoring is usually in a separate packet, although in the case of cup noodles, the flavoring is often loose in the cup. Some instant noodle products are seal-packed; these can be reheated or eaten straight from the packet or container. Dried noodle blocks are designed to be cooked or soaked in boiling water before eating but can be consumed dry. The main ingredients used in dried noodles are usually wheat flour, palm oil, and salt. Common ingredients in the flavoring powder are salt, monosodium glutamate, seasoning, and sugar. The dried noodle block was originally created by flash frying cooked noodles, and this is still the main method used in Asian countries, but air-dried noodle blocks are favored in Western countries.

Instant noodles are manufactured using flour and various alkaline agents. Other ingredients used in their preparation include starch, gluten, stabilizers and edible oil. These noodles are generally dehydrated either by flash or frying methods and are accompanied by separate pouches for the tastemaker. As they are easy to make and store, they are gaining traction across the globe. Noodles are one of the staple foods consumed in many Asian countries. Instant noodles have become internationally recognized food, and worldwide consumption is on the rise. The properties of instant noodles like taste, nutrition, convenience, safety, longer shelf-life, and reasonable price have made them popular. Quality factors important for instant noodles are color, flavor, and texture, cooking quality, rehydration rates during final preparation, and the presence or absence of rancid taste after extended storage.

Market potential & Strategy

The instant noodles market in India was valued at INR 9800.69 Crores in 2019, is expected to expand at a compound annual growth rate (CAGR) of ~6.3% during 2020 - 2025. The global instant noodles market size was valued at INR 3,32600.34 Crores in 2019 & is projected to reach INR 5,48100.56 Crores by 2027, exhibiting a CAGR of 5.9% in forecast period. The market is currently being driven by increasing number of snack loving population especially in the emerging economies, ease of preparation, longer shelf life and availability of various flavours to cater to tastes of all age groups. Growing urbanization and increasing disposable incomes have altered the eating habits of the consumers. Due to the hectic lifestyle, the working population now prefers affordable and quick meals, such as instant noodles, which require minimal cooking. This shift in their eating habit has created a great opportunity for the instant noodles market to flourish. Instant noodles are available in a wide range of flavors along with numerous vegetarian and non-vegetarian variations. Moreover, the manufacturers keep formulating with new flavors, colors, textures and seasonings or tastemakers, according to regional tastes and preferences, in order to expand their consumer-base. The growth of the organized food retail sector, with an increasing number of departmental stores, hypermarkets, supermarkets and convenience stores across the globe, is expected to facilitate the sales of instant noodles.

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