Market Trends of Bangladesh Instant Noodles Industry
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.
Understand The Key Trends Shaping This Market
Download Sample
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.
