Rise of Single-Person Households Boosts Sales of Cup Noodles
14 August, 2018
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.
A man puts cup noodles on the shelves at a convenience store in Seoul on July 17.
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.