Bangladesh Instant Noodles Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bangladesh Instant Noodles Market Analysis
The Bangladeshi instant noodles market is expected to register a CAGR of 6.9% over the next five years.
- Instant noodles can be consumed anytime and anywhere, adding to the high frequency of their consumption in the Bangladesh market. The demand for instant noodles is high in the country, owing to the rising disposable income and busy lifestyle of consumers. The convenience of minimal cooking associated with instant noodles further drives their demand in the regional market. The instant noodles are available in different packaging, which suits the convenience of customers.
- Consumers can choose which packaging type they want, depending on the situation, place, and convenience. The key players in the market are focused on creating new flavor options that suit consumers' changing demands. These new styles and flavors attract consumers' attention and help the companies expand their market reach.
- Customers want relaxed/comfortable meals because of their busy lifestyles. Additionally, it is predicted that in the following years, consumer disposable income per capita will increase along with their demand for foods that can be prepared quickly. Additionally, enriched instant noodles are projected to appeal to the population's health consciousness, aiding market expansion.
- However, although the food has a good taste and is convenient, there needs to be the more nutritional value provided to the consumer. In particular, for the obese population, its high fat and carbohydrate content is a constraint. Consumers now eat fewer of these items due to growing awareness of the health risks of obesity and diabetes. Its intake is positively linked to obesity and cardio-metabolic syndrome, according to the National Center for Biotechnology Information (NCBI), which is hindering the total consumption of the product.
Bangladesh Instant Noodles Market Trends
Rising Demand for Minimal Cooking and Ready-To-Eat Food
- The demand for instant noodles in the market increased due to consumption requirements from every age group and at different places. The increasing demand for instant noodles is highly driven by the demand for ready-to-eat food and products requiring minimal cooking labor. In major cities in Bangladesh, the working population has increased, and people are more focused on products that can be conveniently prepared within less time. The hectic lifestyle of consumers in the region leads to an upsurge in the market demand for instant noodles.
- Heat-and-eat food products are the best alternatives to traditional cooking, particularly when lacking time to prepare nutritious, healthful food. These prepared meals need to be cooked for a brief while before being served. This alternative is ideal for people with busy schedules and college students who need more time to prepare a healthy dinner. The product has been packaged in cups for many years, and producers increasingly use it as a flexible option.
- Cups are more secure during transportation and storage than bag packing. Also, the waterproof polyester material used to make the cups makes it more convenient for customers to microwave them while preparing the noodles. These advantages will fuel the segment's expansion.
- Moreover, instant noodles have emerged as an alternate option for snacking, with their easy availability, affordability, and the fact that they can be eaten anywhere with minimal cooking requirements. The top players are now focusing on creating new products that suit consumers' changing demands, catering to the specificity consumers seek.
- For instance, in 2021, Nongshim Co., South Korea's noodle maker, added a new flavor under its brand, Shin Ramyun, a range of fried noodles. Looking at the rising popularity of fried noodles in the regional market, the company has focused its marketing initiative in Southeast Asia, including Bangladesh. Such factors will propel the market's growth over the coming years.
Supermarkets/Hypermarkets are Prominent Retail Channels
- With the increase in urbanization and growth in the disposable income level of families in Bangladesh, the number of supermarkets/hypermarkets is rising in the region. Popular brands like Nestle SA, PRAN-RFL Group Ltd., and many more are showcasing their products in these retail outlets, catering to a range of consumers in the regional market. These stores are abundantly available in different parts of the region, which helps the customers to reach out to these places easily.
- Moreover, the added convenience and easy accessibility of different products, including instant noodles, in supermarkets/hypermarkets attract customers to make their scheduled purchases from these places. Traditionally, the focus of Bangladeshi consumers was on traditional grocery stores, but with time, there has been a gradual shift in focus toward supermarkets in the region. The population expansion, along with infrastructural development in Bangladesh, is aiding the growth of supermarkets.
- Higher sales momentum for the product is made possible by the quick rise of mass merchandisers in emerging economies like Bangladesh. These large stores are skilled in providing a variety of amenities, such as distinct product shelves, informative product boards, and others, that provide customers with a positive shopping experience under one roof. However, the e-commerce boom has boosted food products' online retail sales.
- According to Amelica Organization's research article on consumer behavior in Bangladesh, females make up 38.8% of supermarket consumers, indicating they are comfortable purchasing there. The age distribution of supermarket customers reveals that 49.58% are young adults (20-29 years old), and 75.08% are in the 20-39 age range. The average household size of the buyers is between three and five people, and 78% of them have not more than five members in their families. Thus, it can be established that supermarkets and hypermarkets in Bangladesh cater to a diverse range of consumer needs across various age groups and genders.
Bangladesh Instant Noodles Industry Overview
The Bangladesh instant noodles market is highly competitive with the presence of global players, such as Nestlé SA, Unilever PLC, and PRAN-RFL Group Ltd., and different regional players like IFAD Multi Products Ltd and Cocola Foods Products Ltd, among others. The market is fragmented, with all these players competing to keep their position intact in the Bangladesh instant noodles market. The companies operating in the studied market are introducing various promotional strategies to attract consumers' attention.
Alongside this, the companies are focused on introducing new varieties of products, looking at the changing needs of the consumers. New product developments, backed by different promotional strategies, help the companies strengthen their position in the market and gives them a competitive edge over other companies.
Bangladesh Instant Noodles Market Leaders
-
Unilever PLC
-
Nestle SA
-
PRAN-RFL Group Ltd.
-
SQUARE Food & Beverage Ltd
-
IFAD Multi Products Ltd.
*Disclaimer: Major Players sorted in no particular order
Bangladesh Instant Noodles Market News
- August 2021: Mr. Noodles, a brand under PRAN-RFL Group Ltd, launched a new flavor of instant noodles called 'Mr. Noodles Korean Super Spicy' in Bangladesh. This product was prepared using Korean masala as well as red chili.
- September 2020: Samyang Foods, a South Korean food manufacturer, launched kimchi-flavored spicy noodles named the Buldak noodles. This product development was claimed to be in line with customer demand for fire noodles.
Bangladesh Instant Noodles Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Cups/Bowls
5.1.2 Packets
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Grocery Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nestle SA
6.3.2 PRAN-RFL Group Ltd
6.3.3 Unilever PLC
6.3.4 Thai President Foods PCL
6.3.5 New Zealand Dairy Products Bangladesh Ltd
6.3.6 IFAD Multi Products Ltd
6.3.7 Cocola Food Products Ltd
6.3.8 Samyang Foods Co. Ltd.
6.3.9 SQUARE Food & Beverage Ltd
6.3.10 Fu-Wang Foods Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
Bangladesh Instant Noodles Industry Segmentation
Instant noodles are precooked and dried, packed with different flavored seasonings and oils. The seasonings can be available in a separate sachet or loose in the pack itself.
The Bangladesh instant noodles market is segmented by product type and distribution channel. By product type, the market is segmented into cups/bowls and packets. By distribution channel, the market is segmented into supermarkets/hypermarkets, grocery stores, online retail stores, and other distribution channels.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| Cups/Bowls | |
| Packets |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Grocery Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
Bangladesh Instant Noodles Market Research FAQs
What is the current Bangladesh Instant Noodles Market size?
The Bangladesh Instant Noodles Market is projected to register a CAGR of 6.90% during the forecast period (2024-2029)
Who are the key players in Bangladesh Instant Noodles Market?
Unilever PLC, Nestle SA, PRAN-RFL Group Ltd., SQUARE Food & Beverage Ltd and IFAD Multi Products Ltd. are the major companies operating in the Bangladesh Instant Noodles Market.
What years does this Bangladesh Instant Noodles Market cover?
The report covers the Bangladesh Instant Noodles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bangladesh Instant Noodles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Instant Noodles in Bangladesh Industry Report
Statistics for the 2024 Instant Noodles in Bangladesh market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Instant Noodles in Bangladesh analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
