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High-end instant noodle new battlefield for Taiwan’s food giants

Two companies have rolled out instant noodle bowls at the incredible price of NT$248

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Beef noodle by Uni-President (left) and chicken noodle by Namchow (right)(Photo by CNA)

Beef noodle by Uni-President (left) and chicken noodle by Namchow (right)(Photo by CNA)

TAIPEI (Taiwan News) – Instant noodles are no longer the byword for low-priced delicacies in Taiwan as two brands battle it out in a high-end market with products set at the over-the-top price of NT$248 (US$8) a bowl.

Uni-President Enterprises Corporation (統一), one of the leading food manufacturers in Taiwan, has been testing the waters of Taiwan’s top dried precooked noodle market with the NT$248 beef noodle (滿漢御品牛肉麵) launched two years ago, reported CNA.

Over 50,000 bowls of the product have been sold since it hit the market, despite a price tag rivaling those available at five-star hotels, raking in over NT$10 million (US$322,500) in sales. The stellar figures have prompted the company to increase its availability to e-commerce platforms apart from convenience stores.

Also targeting the lucrative market is Namchow Group (南僑), which staged a comeback in Taiwan’s instant noodle market in 2015 with a line of products priced at NT$85 (US$2.74) and beyond which come in six flavors. The company is pushing it to the limits this year by rolling out a new chicken noodle (火烱雞麵) for the Father’s Day marketing campaign, purposely set at the same price of NT$248, in what appears to be a move to compete with Uni-President, wrote CNA.

According to Nielsen Marketing Research Consultant Co., the instant noodle market in Taiwan has logged a three-year streak in revenue growth between the period of 2015 and 2017, posting NT$10.94 billion last year.

The stellar sales performance indicated signs that consumer confidence in instant noodle products is back following a sharp decline in 2014 as a result of the food oil safety crisis, and food manufacturers are seizing the opportunity to establish a firm footing in the “luxury” instant noodle market, argued the report.