In 2023, overall demand for instant noodles has declined; the Nissin cup noodles have bucked the trend.
TOKYO, JAPAN (Periodical News) – According to World Instant Noodles Association data, global consumption fell to 120.21 billion servings, down from 121.2 billion servings in the previous year. This decrease is primarily attributed to a rebound in dining out following the pandemic, negatively impacting sales in major markets such as China, Japan, and the United States. Despite the overall market downturn, Japan’s Nissin Foods has successfully navigated this challenging environment, achieving a 5.5% increase in revenue. This growth further reinforces Nissin Foods’ dominant global instant noodle market position.
Despite the overall decline in instant noodles consumption, the cup noodles segment has shown promising growth. With a 1.4% increase, reaching 26.92 billion servings, this segment is a beacon of hope in the industry. The primary markets for cup noodles, China and Japan, have shown significant demand, with Nissin Foods leading the way with its diverse range of cup noodle products and effective promotional strategies.
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.
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