Opportunities for businesses producing instant food

Instant food “takes the throne” globally in the context of many people’s travel restrictions due to Covid-19. This is both an opportunity and a challenge for businesses.

Fifty years since instant noodles in particular and fibers in general appeared, this food group has continuously expanded its influence, gradually becoming familiar to many consumers.

According to the market research report Facts and Factors, global instant noodle sales are expected to increase from 45.67 billion USD in 2020 to 73.55 billion USD in 2026.

Previously, under the impact of Covid-19, the demand for instant noodles increased dramatically. Statistics from the World Instant Noodles Association (WINA) show that from 2018 to 2019, only 3.45%; while 2019-2020, this number quadrupled, reaching 14.79%.

The demand for instant noodles in Vietnam is currently ranked third globally. Consumption growth in 2020 increased by 29.47% compared to 2019. According to WINA, Vietnam’s consumption of products per capita is the highest in the top 5, reaching 72.9 packages per person by 2020.

The European market is no less competitive. Experts predict the period 2022-2026, the highest growth rate in Europe, from 15% to less than 50% (depending on the country).

The rising global demand for instant fiber food means that Vietnamese businesses must face considerable competitive pressure from domestic and international brands.

It is not enough to pack traditional flavors. Businesses also have to ensure product quality to compete in the world market with strict requirements confidently.

With the determination to bring traditional Vietnamese dishes to all five continents, more than 20 years ago, VIFON decided to remove synthetic dyes from products.

“Saying no to eye-catching colors from dyes was one of the factors that helped us attract consumers at that time. The leadership chose a sustainable development path, ensuring safety and health for consumption”, said the business representative.

When the quality factor is guaranteed, international users are gradually more open to Vietnamese products. From this turning point, VIFON boosted exports. Currently, purple pho is present in more than 100 countries and territories. The enterprise has exported more than one billion “Made in Vietnam” products in the past five years alone.

The unit representative said that continuously upgrading the process, the quality management system, food safety, and hygiene according to international standards. It includes ISO 9001; HACCP for all factories producing noodles, casseroles, spices; IFS standards for noodle and rice factories… The company also strictly selects frying oil, prioritizing RSPO certified ones.

The leadership also advocates improving the taste and packaging to meet the increasing demands of users. Launched later than purple pho, other instant rice-based lines such as crab cakes, noodles, vermicelli, vermicelli… still attract domestic and foreign customers. To help all subjects simplify eating, the unit also promotes the production of instant noodles, cup noodles, and bowl noodles.

VIFON also introduced the Hoang Gia product line with actual meat packages, changing consumers’ view of the instant food industry. The leadership team and staff are constantly researching new flavors to suit the tastes of young, dynamic groups of customers, such as spicy salted egg noodles, spicy kimchi beef noodles, spicy crab noodles, and Thai shrimp hotpot noodles,…

(Source: VnExpress)