The Covid-19 pandemic has battered a wide range of companies and industries around the world, but instant noodle makers have clearly been the beneficiaries of the nationwide lockdown. With Asians being the biggest consumers of this staple, manufacturers in the region are emerging as outperformers.
Instant noodles have regained traction in the world's most populous country as more people stay at home due to lockdowns and social distancing rules.
Reduced population mobility highlights the importance of lower-tier urban and rural markets, where consumer hoarding is on the rise amid the pandemic and preference for home dining. Consumers have a new understanding of the safety and deliciousness of instant noodles, and the industry has grown significantly.
Asians generally have a big appetite for instant noodles. China is by far the world's largest consumer of instant noodles. Seven other countries in the region — Indonesia, Vietnam, India, Japan, the Philippines, South Korea — made the top 10 in terms of consumption.
