Analysis of Factors Affecting the Consumption of Instant Noodles Market

Analysis of Factors Affecting the Consumption of Instant Noodles Market
Instant noodles are fast-foods that consumers in mainland China love. In recent years, the continuous decline in consumption has attracted the attention of industry and scholars. According to the characteristics of the consumption of the product, from the three factors of consumption environment, number of consumers and competitive substitutes, the four variables including travel time, number of high-speed rail passengers, active labor, and O2O take-away market size were compared with instant noodles consumption. Relationship.
The results of the study showed that the consumption of instant noodles was negatively correlated with the mileage of high-speed rail. The compression of travel time reduced the demand for products. For every 1% increase in the mileage of high-speed railway operations, the average consumption of instant noodles decreased by 0.319%. The number of workers is positively correlated. These two groups are still the main consumers of consumption. For every increase or decrease of passenger traffic on high-speed railways, the average consumption of instant noodles increases or decreases by 0.3977%, and the number of active workers increases or decreases by 1%. Instant noodles. The average increase or decrease in consumption is 0.397%; it is negatively correlated with the size of the O2O take-away market. The consumption of the O2O take-away market will decrease by 0. 0533% for every 1% increase.
Therefore, instant noodle producers should actively respond to the competition of “Internet +” new formats and innovate in product types and marketing models.

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