Easy to make and cheap to buy, instant noodles have long been China's ultimate convenience food.
Since it was a snack for students, a meal on the train, or just the go-to choice for hungry workers, more than 46.2 billion packets were sold in China in 2013. But it seems this industry has gone off the boil. By 2016 those sales had declined to 38.5 billion, according to the World Instant Noodle Association, a drop of almost 17%.
“This phenomenon shows an unnoticeable while continuous change in China's consumption(消费)patterns,” said Zhao Ping of the Academy of China Council for the Promotion of International Trade. He told the China Daily, “Consumers are more interested in life quality than just filling their bellies these days.”
About 730 million people in China now have access to the Internet according to government figures. And about 95% of those are using smart phones to connect. And apps that offer food delivery to your home, office or wherever you happen to be are a real fast-developing industry.
Their menus are undoubtedly more expensive than a pot of instant noodles. But these meals can still be inexpensive, and arguably more tasty, depending on your favor.
But put in the global background, China is still easily the biggest market for instant noodles. In fact, China's consumption was roughly equal to Indonesia, Japan, Vietnam, India, the US, South Korea and the Philippines combined.
And that means global noodle manufacturers are unlikely to turn away from the Chinese market. Japan's instant noodle business Nissin Foods, for example, is planning to land on the stock market in Hong Kong, by which operation it hopes to raise about 145 million dollars. It is rare for a Japanese firm to list in Hong Kong, but Nissin is talking up its prospects in China, where it is already the fifth biggest brand.
“Some consumers stopped consuming instant noodles, but most consumers want to increase the quality (of food they consume),” chief executive Kiyotaka Ando told CNBC last week.
“We can supply high-quality products so we have more possibility to develop our business.”