Ramyeon firms find new opportunity with dried noodles

[Graphics by Song Ji-yoon]

The South Korean ramyeon industry is exploring new avenues by entering the market of air-dried noodles, a healthier alternative made without being fried in oil. The move is seen as a response to the growing trend of health-consciousness among consumers, particularly in the instant food sector.

According to industry sources on Thursday, the Korean market for dried noodles was estimated to be around 160 billion won ($120 million) in 2023. According to Nielsen Korea, the market for dried noodles grew from 117.8 billion won in 2018 to 130.8 billion won in 2020 to 150 billion won in 2022.

While the market size of dried noodles only accounts for 6.7 percent of the country’s entire ramyeon market, industry players are paying close attention to its growth potential. While the overall ramyeon market in Korea experienced a modest 2.5 percent growth to hit 2.33 trillion won in 2022, the dried noodle market has consistently grown at an annual rate of 5 to 10 percent.

The industry anticipates sustained demand for dried noodles as the trend towards health-conscious choices continues and instant noodle companies are responding by continuously launching new products in this segment. Riding the Hallyu wave and the popularity of Korean ramyeon overseas, the focus is now increasingly on expanding into international markets with dried noodle products.

Following the introduction of Samyang Roundsquare’s premium dried noodle brand ‘COOTIQUE’ at the end of 2022, the company launched a new international market-oriented dried noodle brand, ‘Tangle,’ which is set to be available in over 500 supermarkets across Japan at the end of February 2024.

Nongshim Co., a major player in the Korean ramyeon market, has introduced several new products in 2022, beyond its flagship ‘Shin Ramyeon Dried Noodle’ product. Recognizing the advantage of air-drying noodles without using oil, Nongshim has expanded its range of dried noodles to include various bibimmyun and pasta options alongside the traditional soup-based noodles.

The annual sales of Nongshim’s dried noodle products, driven by the success of new releases, have surpassed the 100 billion won mark for two consecutive years.