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KOTRA: S. Korea Dominant No. 1 Exporter in China's Instant Noodle Market

Written: 2017-12-11 16:49:27Updated: 2017-12-11 17:07:40

KOTRA: S. Korea Dominant No. 1 Exporter in China's Instant Noodle Market

South Korea is apparently maintaining a dominant position in China’s imported instant noodle market.

The Beijing office of the Korea Trade-Investment Promotion Agency(KOTRA) said Monday that South Korea accounted for 56-point-seven percent of the imported instant noodle in China in the first 10 months of the year, valued at 80-point-33 million U.S. dollars.

South Korea became No. 1 instant noodle exporter to China last year, nudging aside Taiwan, and has been retaining the position, posting the growth of 138 percent this year so far from last year.

South Korea only seized 20 percent market share in China’s noodle import market in 2014, but it grew to 24-point-six percent in 2015 before jumping to 39-point-two percent last year.

KOTRA credited South Korea’s marked growth for its differentiation strategies in tastes, high-end marketing, and food safety.

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