Dried & instant noodles inflation in Hong Kong stood at 16.080% in Q3 2024, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q3 2024, GlobalData monitored the pricing of 330 dried & instant noodles SKUs from companies such as Nissin, Sau Tao and Nongshim that were sold by e-retailers. Buy the report here.

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Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Wellcome offered lowest prices of the total SKUs within the dried & instant noodles category from July through September 2024, followed by ParkNShop and Biovea. According to the analysis, the price range of $5 and below was the most competitive, with 242 SKUs.

The chart below illustrates price leadership among the covered retailers which offer the highest number of low-priced products in the category. Of all retailers, Wellcome had greatest share of lowest prices for individual SKUs in dried & instant noodles in Hong Kong in Q3 2024.

Analysis of the quarterly price data showed that Biovea offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed chicken and sesame oil as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 35.72% lower than the average price of a dried & instant noodles SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Wellcome, ParkNShop, Biovea, and . According to the analysis, Wellcome had the lowest average unit price, while the retailer with the widest product assortment was Wellcome.

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The report brings attention to the intricate pricing dynamics within the dried & instant noodles market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Wellcome, ParkNShop and Biovea stood out as prominent e-retailers, providing competitive pricing for a substantial number of dried & instant noodles SKUs. However, to comprehensively grasp dried & instant noodles market in Hong Kong, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the Hong Kong dried & instant noodles market, buy the report here.