Instant noodle market no longer hotVietNamNet Bride - Between 50 and 55 instant noodle packs a year on average are bought by each Vietnamese, a slight decrease compared with recent years, according to the World Instant Noodles Association (WINA). Between 50 and 55 instant noodle packs a year on average are bought by each Vietnamese, a slight decrease compared with recent years, according to the World Instant Noodles AssociationIn 2015, Vietnam consumed 4.8 billion packs. Vietnam ranks fourth in the world in instant noodle consumption level, after China (40 billion packs a year), Indonesia (13 billion) and Japan (5 billion).According to Kajiwara Junichi, general director of CP Acecook Vietnam, the Vietnamese instant noodle market has declined because of many new different kinds of instant food.Masan is the second largest market shareholder, but it is nor optimistic about the instant noodle market’s prospect, saying that the industry is too competitive. Nissin has not spent much money on marketing and ads.The branding expert said that in the competitive instant noodle market, not only small enterprises but big manufacturers also find it difficult to develop. Seventy percent of Nissin’s exports are from factories in Vietnam, which offset the loss Nissin incurs in the market.

Source: VietNamNet News September 04, 2016 06:56 UTC