Container Noodle Market Reaches 599.3 Billion KRW in Q3 This Year, Up 12.4% YoY
Increased Outdoor Activities Drive Demand for Convenient Container Noodles
Nongshim Yukgaejang Sabalmyeon Ranks 5th in Overall Ramen Market
[Asia Economy Reporter Koo Eun-mo] In the second quarter of this year, with the lifting of social distancing measures and an increase in outdoor activities, the demand for cup noodles has risen.
On the 29th, Nongshim compiled data from NielsenIQ Korea on the cumulative ramen market for the third quarter of this year. According to the data from four companies, the cup noodle market size reached 599.3 billion KRW, showing a 12.4% growth compared to the same period last year. Among the representative cup noodle products, Nongshim's Yukgaejang Sabalmyeon ranked fifth in the overall ramen market.
The cumulative domestic ramen market for the third quarter of this year recorded 1.4734 trillion KRW, growing 4.5% compared to the same period last year, amid social changes such as the peak of the COVID-19 pandemic and the lifting of social distancing. During the COVID-19 pandemic, many consumers enjoyed ramen as a convenient meal at home, and the market continued to grow thanks to active marketing activities by each company.
In particular, after the lifting of social distancing, outdoor activities increased, leading to a significant rise in demand for cup noodles, which are easy to enjoy. The cumulative cup noodle market size for the third quarter was 599.3 billion KRW, a 12.4% increase compared to the same period last year. This accounts for 40.7% of the total ramen market size, which is 2.9 percentage points higher than 37.8% in the same period last year.
In terms of market share by company, Nongshim firmly holds the top position with 55.7%, followed by Ottogi (23.4%), Samyang Foods (11.3%), and Paldo (9.6%).
Meanwhile, the most popular ramen this year was Nongshim's Shin Ramyun. Shin Ramyun ranked first nationwide and was number one in all regions except Gyeongnam. Launched in 1986 to embody the spicy taste favored by Koreans, Shin Ramyun has held the number one market position for 32 years since 1991. Jjapaghetti (6.5%), Ansungtangmyun (4.8%), Jin Ramyun Spicy (4.4%), and Yukgaejang Sabalmyeon (4.4%) followed. The top five sales rankings were formed by steady sellers that have been loved for a long time in the market.
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