Japanese food giant Nissin Foods Holdings has said its Indian business will invest in a noodle factory to meet rising demand and drive expansion in the “high growth” market.
The facility, located in the state of Odisha in eastern India, will be the company’s third noodle factory in the country. It will manufacture bagged noodles as well as a “new concept” of instant noodles “matched to the food culture of India”.
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The new product, Scoopies, aims to drive growth of the instant noodle market by broadening the product’s appeal, Nissin said.
India is already the word’s fifth-largest noodle market. Announcing its investment, Nissin predicted growing distribution in rural areas and convenience channels, demographic drivers and evolving lifestyles were expected to contribute continued growth in the sector.
The move comes as part of Nissin’s drive to expand in India, outlined by the group’s medium-term growth plan. The firm has targeted overseas sales of JPY100bn (US$959.2m) by 2015. The company said expanding its Indian business was “one of the most important” steps towards achieving this goal.
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By GlobalData
