Inflation makes instant noodles global staple

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Inflation makes instant noodles global staple

Published: 22 Nov. 2023, 12:24 Updated: 22 Nov. 2023, 18:48

KIM JU-YEON
kim.juyeon2@joongang.co.kr

A shopper browses instant noodle products, or ramyeon, at a supermarket in Seoul.[YONHAP]

Instant noodles, or ramyeon, have quickly become a staple worldwide, with an increasing number of middle-class consumers reaching for the packaged meal-in-one previously regarded as a "cheap" pantry essential.

A record 121.2 billion servings of instant noodles were consumed in more than 50 countries in 2022, a 2.6 percent climb from 2021, according to Japan's World Instant Noodles Association.

The top consumer was China, followed by Indonesia. Vietnam came fourth and Japan fifth.

However, the top five included India at third place, which isn't a traditional noodle consumer, indicating that instant noodles have become popular in countries where they don't have the culture of eating soup-based noodle dishes.

Korea ranked eighth, below the United States and the Philippines.

Mexico, also a country without such a noodle culture, saw a huge increase in the instant noodle market. Demand soared by 17.2 percent in 2021, amplified by the Covid-19 pandemic when people reached for noodles under lockdown. It also saw an 11 percent increase in demand last year.

A Nikkei Asia report said the rise in demand resulted from rising living costs, primarily driven by the growing demand from middle-class consumers.

"Middle-class consumers who did not eat instant noodles before are now incorporating them into their daily lives" due to inflation, instant noodle giant Nissin Foods told the Nikkei.

Korean instant noodle companies' exports have soared. Ramyeon exports worth over 785 million dollars were shipped out between January and October, a 24.7 percent increase from last year, according to the Korea Customs Service on Monday.

Nissin Foods, the inventor of instant noodles, and Toyo Suisan, another industry leader, also saw a significant increase in profit from overseas operations in the fiscal year ended March 2023.

Nissin Foods plans to invest 228 million dollars in its expansion in the United States, including the construction of a new factory in South Carolina, according to the company's statement published this month.

Toyo Suisan, known for its Maruchan brand, will also construct additional production facilities in Mexico and the United States by 2025 to match the soaring demand.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]