Azerbaijan Instant Noodles Market Shipment Analysis
Azerbaijan Instant Noodles Market registered a growth of 49.76% in value shipments in 2022 as compared to 2021 and an increase of 13.77% CAGR in 2022 over a period of 2017. In Instant Noodles Market Azerbaijan is becoming more competitive as the HHI index in 2022 was 6896 while in 2017 it was 7927. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Azerbaijan has reportedly relied more on imports to meet its growing demand in Instant Noodles Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Instant Noodles Market in 2022 was 8.25 while in 2017 it was 105.18. Russia, Turkey, Kyrgyzstan, Kazakhstan and Uzbekistan were among the top players of the market in 2022, where Russia acquired the largest market share of 82.52% with a shipment value of 7.13 million USD in 2022 Russia also offered the product below the average market price thus having a competitive advantage over others In 2017 Russia had the largest market share of 88.77% with the shipment value of 2.36 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Russia offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Azerbaijan Instant Noodles Market in 2017.
