WINA attributed the recovery to the wider range of products available for customers to choose from. The instant noodle market tends to rebound, but quite slowly. This is a common trend in the world market as packaged noodle consumption is falling.
Acecook Vietnam, Masan Consumer, and Asia Foods are the biggest producers of instant noodles, accounting for 70% of Vietnam’s market shares.
Vietnam remained the fourth largest consumer of instant noodles in the world, after China, Indonesia, and Japan.
Kajiwara Junichi, General Director of Acecook Vietnam, says the Vietnam instant noodle market has seen improvements, sending the company’s sales of instant noodles soaring by between 5-20% from 2016 to mid-2017.
Meanwhile, sales of Masan Consumer and Asia Foods products decreased and is showing no signs of recovery.