GARDENIA, CALIF. — Nissin Foods, USA, a manufacturer of instant noodles, enjoyed notable gains in 2021, following a year of unprecedented growth the prior year, with sales up 22% from 2020. The company cited innovation in premium products within its Cup Noodles and Top Ramen brands as the principal driver of its latest financial results.
“Our global leadership, dedicated mission, and strategic innovation pipeline of premium products has us poised to regain our commanding position as the leader in the instant ramen category,” said Michael Price, president and chief executive officer of Nissin Foods, USA.
Nissin said it achieved several milestones across its brands, which included the launch of its first limited-edition flavor with Cup Noodles Pumpkin Spice, its entrance into the rice category with Cup Noodles Stir Fry Rice with Noodles, and its take on the spicy foods trend with Hot & Spicy Fire Wok.
“We continue to see demand growth across a broader consumer segment, which requires further diversification of our offerings and a strategic focus on premium, game-changing products and expansion into new categories,” Mr. Price said. “Instilled by Nissin Foods founder Momofuku Ando, innovation is the guiding principle of the company that is driven by the mission to feed the world with accessible and affordable products. This mentality enabled us to hit critical benchmarks, all while navigating the industry’s production constraints and global obstacles.”
Looking ahead, Nissin said it plans to increase its volume and value share in the market by, “Expanding its premium product retail footprint, launching new and unexpected limited-edition flavor profiles, cross-category integration, and aligning with brands and partners to continue to disrupt and push boundaries forward in the food industry and establish its leadership position in the ramen category.”
In 2021, Nissin surpassed 1.48 billion noodle servings sold. Underscoring the rising trend of premium instant ramen products paired with consumer demand for convenience, Nissin saw 32% growth in net sales of its premium products, leading the premium category with 82% share of the market.“Over the last five years, we have remained consistent in our captured market share year-over-year further solidifying our strong second position in the market,” Mr. Price said. In 2021, Nissin captured a nearly 31% share of the instant noodle market in the United States.