Kazakhstan Instant Noodles Market Shipment Analysis
Kazakhstan Instant Noodles Market registered a growth of 41.01% in value shipments in 2022 as compared to 2021 and a decrease of -5.14% CAGR in 2022 over a period of 2017. In Instant Noodles Market Kazakhstan is becoming more competitive as the HHI index in 2022 was 6022 while in 2017 it was 8577. 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.
Kazakhstan has reportedly relied more on domestic production 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 0.66 while in 2017 it was 8.04. Russia, China, South Korea, Kyrgyzstan and Vietnam were among the top players of the market in 2022, where Russia acquired the largest market share of 76.38% with a shipment value of 31.07 million USD in 2022 Russia also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Instant Noodles Market. In 2017 Russia had the largest market share of 92.5% with the shipment value of 36.62 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 Kazakhstan Instant Noodles Market in 2017.
