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More than 25 billion yuan were sold last year, and Master Kong is about to create a new "hot style"!

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More than 25 billion yuan were sold last year, and Master Kong is about to create a new "hot style"!

The COVID-19 at the start of this year has sparked a boom in convenience foods and pushed many businesses to buck the trend.

According to the data from the 20th China Convenience Food Conference, the consumption of convenience food increased by 1.5 times from January to May in 2020, and the increase was as high as 21.3 times in February. In the first half of the year, sales of instant noodles, one of the representative categories, rose 11.5 per cent year on year, while overall sales rose 5.6 per cent year on year.
However, since entering the post-epidemic period, consumer activity returned to the normal pace, the growth of instant noodles began to slow down gradually. At the meeting, Meng Suhe, President of the China Society for Food Science and Technology, noted that the growth rate of instant noodles in 2020 dropped from 23 percent in the first quarter to 13 percent in April and 8 percent in May.
In other words, if they want to retain and capture more consumers in the popular instant noodle industry and maintain the ideal growth rate, brands need to pay more attention.

One direction to look at is freshness. "Consumers will expect convenience foods to look more and more like freshly made food," said Anne Chiang, a research analyst at Mintel, in its convenience food report released in March. According to the report "eight Innovative Trends in China's Convenience Food Industry 2019-2020", innovative products in the new era are more and more similar to "the taste of the family kitchen".
Master Kong, for example, launched its first high-end noodle line, Master Kong Hand-rolled Noodle, in May. The snack agency noted that the series was placed under the Master Kong Instant Noodles section along with instant noodles. However, different from the previous innovation of instant noodles, master Kong's hand-rolled noodles series emphasizes the texture of noodles "just like fresh knead".
Master Kong hand rolled noodles product responsible person revealed in the above meeting, in order to solve the gap between instant noodles in taste and traditional handmade noodles, the research and development team and a number of folk masters to communicate, and finally adopted the "three knead and seven roll" process, so that the noodles can endure boiling and have the texture.
In contrast to most other boiled noodles on the market, such as hung noodles, Master Kong hand-rolled noodles retains the prepared and stock packets found in instant noodles and offers popular flavors like braised beef in brown sauce. According to the person in charge, the design aims to "create a new benchmark for cooking noodles with both delicacy and nutrition".

In fact, increasing the size of cooked noodles is a new growth idea of instant noodle giant Master Kong in the post-epidemic period: tapping the consumer demand at home.
For master kong, if he can turn his hand-made noodles into a new "hot style" through a series of market inputs, it is not only expected to find new growth points for his instant noodles business, but also to improve the product mix and increase profit margins with the increase in the proportion of high-end products.
According to the company's 2019 annual report, its instant noodle revenue grew 5.79 percent year on year to 25.3 billion yuan. Master Kong stated in its 2020 semi-annual report that it will continue to adhere to the concept of "focusing on mass consumption market and steadily expanding high-end market" in the future, focusing on consolidating mass consumption market in the short term, accelerating product innovation in the medium and long term, and laying out high-end and potential market.

At the convenient food meeting, deputy director general of department of industry and information technology, consumer goods industry Li Tangbing said that for a long time, the convenience food industry in our country at the domestic consumer demand, deepening the domestic market, is a typical industry in the development of domestic demand-led, driving the development of international and domestic dual cycle is the domestic circulation of one of the key industries.
The convenience food industry is also expected to unleash greater potential, driven by companies such as Master Kong.

The changes of The Times have changed instant noodles, and the evolution of instant noodles has also pushed forward The Times. In a steaming bowl of instant noodles, China is changing continuously in the great era.