Vietnamese Rank Among the Highest Consumers of Instant Noodles Globally
Vietnam has the highest frequency of instant noodle consumption in the world, with the country consuming 8.48 billion servings last year, according to the World Instant Noodles Association. On average, each Vietnamese person ate 85 servings, or one every four days. This surpasses the frequency in South Korea and Thailand, making Vietnam the leader in instant noodle consumption. In terms of total consumption, Vietnam ranked third behind China and Indonesia, with 45 billion and 14.2 billion servings respectively.
To meet the high demand, noodle producers in Vietnam have been regularly introducing new products to boost sales. The market leaders, Acecook and Masan, hold a combined share of 33%, according to Euromonitor. Acecook reported selling 3.3 billion servings last year, while Masan did not disclose its volume but achieved significant revenue from its noodle brands. Another competitor, Asia Foods, posted impressive revenue figures from 2017 to 2021.
One of the leading companies, Acecook Vietnam, witnessed a 10% year-on-year increase in noodle sales during the first six months of the year. Kaneda Hiroki, the CEO of Acecook Vietnam, stated that the company aims to sell 3.5 billion servings in Vietnam this year, which is a 6% increase from 2022. To cater to the growing demand, the company is focusing on introducing new rice-based noodle products.