| More than seven billion packages of instant noodle were consumed in Vietnam last year |
The COVID-19 pandemic has led to skyrocketing demand for instant noodles around the world. The report pointed out that 116.6 billion servings of instant noodles were eaten globally during the year, with as many as 320 million servings eaten every day. Regardless of the area, age, and gender, instant noodles are loved as “global food”.
The top 10 countries accounting for more than 80 per cent of global instant noodle consumption are from Asia. China is currently the world's highest consumer with 46.35 billion packages, followed by Indonesia (12.64 billlion) and Vietnam (7.03 billion).
In terms of per capita consumption, South Korea took the lead with 79.7 servings per person. Vietnam came second with 72.2 servings per person.
According to Statista, Hao Hao was the most chosen fast-moving consumer goods (FMCG) brand in the food category in urban areas in Vietnam, having a penetration rate of 78.7 per cent. Meanwhile, Omachi was the fastest-growing FMCG brand in rural areas in Vietnam, having a consumer reach points (CRP) growth rate of 39.3 per cent. Hao Hao and Omachi are among the leading instant noodle brands in the country.
Due to the huge domestic demand, Vietnam has become a manufacturing hub for instant noodle makers. As of present, there are over 50 instant noodle producers in Vietnam, with 70 per cent of the market belonging to Acecook Vietnam, Masan, and Asia Food. South Korean instant noodle makers Nongshim and Ottogi are also ramping up activities in Vietnam, and are considering the country as a gateway to Southeast Asia.
(Source: https://vir.com.vn/)
