August 14, 2018 10:42
Instant cup noodles are growing in popularity as more people seek easy-to-cook products for convenience.
The Korea Agro-Fisheries and Food Trade Corporation said Monday that the overall instant noodle market was worth W540.4 billion in the first quarter of this year, up 3.5 percent from a year ago (US$1=W1,134).
While sales of bagged instant noodles grew by just 1.3 percent, those of cup noodles saw a 7.5-percent increase. Bagged instant noodles still account for over 60 percent of the market, but are expected to be outpaced by cup noodles sooner or later.
Industry sources attributed the increase to lifestyle changes driven by the growing number of single households.
Cooking instant noodles in a pot and having to wash up afterwards may simply be too much hassle for those who live alone. "We will see more varieties of easy-to-cook products targeting single-person households," an industry insider said.
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