South Korea-based manufactures of instant noodles have been witnessing increased sales this year as most people preferred to eat at home during the coronavirus outbreak.
Nongshim Co. Ltd., the South Korea-based food and Beverage Company, has reportedly published a new report titled ‘the trends in the domestic ramen market changed by Covid-19’, highlighting the sales figures of the company which increased rapidly due to the ongoing COVID-19 pandemic.
As per the report, during the first half of the year, the domestic Ramen market reached about USD 1.09 billion (1.3 trillion won), an increase of 7.2 percent year-on-year basis. It is a record in semi-annual performance. Additionally, in the ramen market, which is moving sideways from around USD 1.7 billion (2 trillion won) level, this significant growth has shown the nature of being crisis-resistant food.
Due to the product design, ramens are primarily sold at supermarkets, convenience stores near the houses and markets; hence, there hasn’t been a significant percentage of online sales. However, the ongoing pandemic has prompted people to buy ramen online, which eventually increased Nongshim’s figures.
Nongshim reported that revenues on online platforms from domestic ramen revenues were about USD 34 million (40 billion won), almost twice as high in the first half of this year, based on its own factory results. Across major domestic online platforms, revenues rose uniformly, ranging from social business to free markets.
A spokesperson from Nongshim said in the statement that as people worldwide are spending most of their at-home, the demand for zip cook (cooking at home) has increased, and Ramen became a concept of meals and cooking, out of the concept of snacks.
Baggymyeon is also considered to be the first emergency food to visit in a crisis situation because it is in large quantities at a lower price than container noodles and can be boiled at home as a substitute for a meal.
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