Indonesia’s instant noodle producer, Indofood has now emerged as one of the most rapidly growing companies within the global instant noodle segment, according to a recent report by Macquarie.
Instant noodles, previously in simple formats and considered staple food for the lower-income, has seen rapid international growth in developing markets in the US, Europe, Middle East and Africa, supported by growing global curiosity and interest for Asian flavors and the hugely popular pop-Korean culture.
As international demand grows, instant noodle players have diversified their portfolio by introducing more premium lines catering to consumers who seek for healthier and superior ingredients.
Indonesia is the world’s 2nd largest market for instant noodles only after China, with Indofood commanding 85% share of the market. Not contented with its dominance in the local market, Indofood in recent years has also expanded to overseas with its acquisition of Pinehill for US$3 billion in 2020. Pinehill is Middle East’s largest instant noodle manufacturer operating 12 factories across 8 countries, and supplies to more than half a billion consumers in the MENA region. With the acquisition, Pinehill also produces and distributes Indomie within the region which still has huge growth potential due to the low per capita consumption of instant noodles.
