Instant noodle sales rise in VN

Consumers choose their instant noodles in a supermarket in Ha Noi. Việt Nam’s instant noodle market was valued at VNĐ 二 四. 三 trillion in  二0 一 五,  一0 per cent higher than  二0 一 四. - Photo tuoitre.vn

HÀ NỘI – Việt Nam has a huge domestic market for instant noodles with sales of nearly VNĐ 二0 trillion (US$ 八 八 八. 九million) per year.

According to Euromonitor, a foreign research firm, Việt Nam’s instant noodle market had a value at VNĐ 二 四. 三 trillion in  二0 一 五,  一0 per cent higher than  二0 一 四.

The value was expected to grow to VNĐ 二 五. 七 trillion in  二0 一 六 and VNĐ 二 六. 六 trillion in  二0 一 七.

There are  五0 enterprises engaged in producing instant noodles in Việt Nam. Seventy per cent of the revenue has come from Acecook, Masan Consumer and Asia Foods, the three largest instant noodles producers.

Acecook Việt Nam is the largest domestic producer of instant noodles, accounting for  四0 per cent of the market. The company registered a revenue of VNĐ 九 trillion in  二0 一 四 and VNĐ 九. 三 trillion in sales in  二0 一 五.

The second largest enterprise, Masan Consumer, held  二 五 per cent of the local market share in  二0 一 五. It gained VNĐ 五 trillion from packed instant noodle sales.

Meanwhile, the World International Noodle Association (WINA) has reported that consumption of instant noodles in Việt Nam reduced over the past two years following a downtrend on the world market. Consumption dropped from  五. 二 billion packets in  二0 一 三, to  五 billion in  二0 一 四, and  四. 八 billion in  二0 一 五.

Inaccurate information about the product has made customers wary and resulted in reduced sales, the association reported.

However, Kajiwara Junichi, general director of Acecook Việt Nam, said consumption of instant noodles had recovered in the first half of this year.

In the first six months of this year, Acecook Việt Nam sold  一. 三 billion packets and exported  一00 million packets,  九 per cent higher than the same period last year, he said. The company expected sales of  二. 九 billion packets this year.

Việt Nam has the best production costs so the company produces its instant noodles here and exports it to  四 六 countries and territories, he said. In the future, the company would promote cup noodles due to its high demand.

Việt Nam is the fourth largest consumer of instant noodles in the world, after China, Indonesia and Japan, according to the association. – VNS

A chart showing the global demand of instant noodles. - Photo instantnoodle.org