Please Wait.....
Report
Bangladesh Instant Noodles Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 85 Pages I Mordor Intelligence
The Bangladeshi instant noodles market is expected to register a CAGR of 6.9% during the forecast period (2022-2027).
The COVID-19 pandemic affected the instant noodles market during the first quarter of the pandemic. The strict lockdowns in the region led to the closure of the shops, leading to a temporary halt in demand for the products. But during the second quarter, people were inclined towards purchasing from online retail stores, and stock pilling was evident due to the restriction on going out frequently. Moreover, the convenience of preparing instant noodles, and the different taste options available, led to the rising demand for the product, owing to the quick snacking solution at home during the pandemic.
Instant noodles can be consumed anytime and anywhere, adding to the high frequency of their consumption in the Bangladesh market. The demand for instant noodles is high in the country, owing to the rising disposable income and busy lifestyle of consumers. The convenience of minimal cooking associated with instant noodles is further driving its demand in the regional market.
The instant noodles are available in different packagings, which suit the convenience of customers. Consumers can choose which packaging type they want, depending on the situation, place, and convenience. The key players in the market are focused on creating new flavor options that suit consumers' changing demands. These new styles and flavors attract consumers' attention and help the companies expand their market reach.
Bangladesh Instant Noodles Market Trends
Rising Demand for Minimal Cooking and Ready-To-Eat Food
The demand for instant noodles in the market increased as a result of 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. Moreover, it has emerged as an alternate option for snacking, with its easy availability, affordability, and the fact that it can be eaten anywhere with the minimal cooking requirement. Global companies are now focusing on creating new products that suit consumers' changing demands, catering to the specificity consumers are looking for. 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.
Supermarkets/Hypermarkets is the Largest Share
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 marketplaces, 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 easily reach out to these places. Moreover, along with instant noodles, the added convenience and easy accessibility of different products in the supermarkets/hypermarkets attract the customers to make their scheduled purchases from these places. Traditionally, the focus of Bangladeshi consumers was on the traditional grocery stores, but with the passage of 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.
Bangladesh Instant Noodles Market Competitor Analysis
The Bangladesh instant noodles market is highly competitive with the presence of global players, such as Nestle SA, Unilever PLC, and PRAN-RFL Group Ltd., and different regional players like IFAD Multi Products Ltd, and Cocola Foods Products Ltd, among others. The market is fragmented, with all these players competing to keep their position intact in the Bangladesh instant noodles market. The companies operating in the studied market are introducing various promotional strategies to attract consumers' attention. Alongside, the companies are focused on bringing new varieties of products, looking at the changing needs of the consumers. New product development, backed by different promotional strategies, help the companies to strengthen their position in the market and gives them a competitive edge over other companies.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Cups/Bowls
5.1.2 Packets
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Traditional Grocery Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nestle SA
6.4.2 PRAN-RFL Group Ltd
6.4.3 Unilever PLC
6.4.4 Thai President Foods PCL
6.4.5 New Zealand Dairy Products Bangladesh Ltd
6.4.6 IFAD Multi Products Ltd
6.4.7 Cocola Food Products Ltd
6.4.8 Samyang Foods Co. Ltd.
6.4.9 SQUARE Food & Beverage Ltd
6.4.10 Fu-Wang Foods Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security