Vietnam's 2017 instant noodle consumption rebounds
Vietnam is currently ranked fifth in the world in terms of instant noodle consumption, behind China, Indonesia, Japan and India.
Vietnam's instant noodle consumption showed sign of recovery after two years in decline, reaching 5.06 billion instant noodle packets in 2017, up 3% year-on-year and 5.4% against 2015, according to the World Instant Noodle Association (WINA).
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According to WINA, around 100 billion instant noodle packets are sold annually worldwide. Sales of instant noodles all over the world saw a growth rate of 40% from US$44 billion in 2013 to US$61 billion in 2017, revealed in Euromonitor's statistics.
In Vietnam, an increase in the volume of instant noodle consumption was thanks to a wide range of products available to customers, as well as growing number of enterprises from abroad and of domestic joining the market.
Recently, a number of enterprises announced decisions of entering the instant noodle market by partnering with foreign companies, VnExpress reported.
Additionally, Vietnam's market also witnessed a growing number of foreign instant noodle products, leading to customers with more options to choose from.
Acecook Vietnam, one of the biggest producers of instant noodles in Vietnam, informed that its revenue in the first half of 2018 saw an increase of 8% year-on-year, thanks to favorable market conditions.
Similarly, Colusa-Miliket Foodstuff also reported an increase of 10% year-on-year in revenue in the six-month period, reaching VND281 billion (US$12.13 million).
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