Noo­dles: High-end prod­ucts pop­u­lar

China Daily (Latin America Weekly) - - Business -

that came af­ter it shrank its work­force by 15,000 in three years.

Uni-Pres­i­dent and Mas­ter Kong to­gether com­mand a more than 70 per­cent of mar­ket share, and the top four ac­count for nearly 85 per­cent of the mar­ket.

Uni-Pres­i­dent has found that in­stant noo­dles are no longer bought by hun­gry con­sumers. Young con­sumers buy them to en­joy ex­otic fla­vors or to stay healthy.

High-end in­stant noo­dles still en­joy a price ad­van­tage over some take­out foods, but the two cat­e­gories serve dif­fer­ent pur­poses for con­sumers; and in­stant noo­dles will be­come com­ple­men­tary to the food de­liv­ery mar­ket soon, said Yu of Kan­tar.

High-end in­stant noo­dles priced more than 5 yuan have be­come the in­dus­try’s an­swer to consumer de­mand for bet­ter qual­ity food, he said.

In com­par­i­son, medium and low-end prod­ucts’ mar­ket shares and prices have con­tin­ued to drop and could be phased out of the mar­ket, he said.

Yang Shouzheng, gen­eral man­ager of Uni-Pres­i­dent China, said: “Sales of in­stant foods priced more than 5 yuan have seen dou­ble-digit growth.”

The over­all in­stant foods mar­ket, which had a mar­ket value of 391.5 billion yuan by the end of last year, grew 5.55 per­cent year-on-year in 2016.

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