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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] According to the Financial Times on the 28th, Nongshim's Shin Ramyun is gaining popularity as a mainstream product in the United States, while sales in European markets such as the United Kingdom and Germany are also increasing.
Amid the COVID-19 pandemic, there has been a global ramen boom as people seek quick, tasty, and cost-effective meals at home.
Nongshim's move to transition Shin Ramyun from a niche Asian corner to mainstream food at Walmart in the United States is seen as a significant symbolic move, as reported by the Financial Times. Particularly, the upscale strategy focusing on Shin Ramyun Black in the United States has been effective.
Nongshim recorded sales of 1.2 trillion won with Shin Ramyun last year, of which 60% came from overseas markets.
The United States is Nongshim's largest overseas market, and the company aims to triple U.S. sales to $1.5 billion (2 trillion won) annually by 2030 to become the top player in the ramen market.
Nongshim anticipates significant growth in U.S. sales this year and is expanding production lines at its second factory in Los Angeles. The company is also considering constructing a third factory in the United States and an export-only domestic factory.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
