Instant noodles market cools off

The increased popularity of take-out food and increased health consciousness among Chinese consumers have triggered a sharp decline in demand for instant noodles, pressuring major players in the field to enrich their cash flows by selling assets.

According to the World Instant Noodle Association, the demand for instant noodles was 38.5 billion servings in 2016, down 7.7 billion compared with three years ago or 16.6 percent.

In the first half, Uni-President saw its net profit drop sharply by 26 percent to 569 million yuan ($85 million) and its gross revenue was 11.1 billion yuan, down 7.06 percent. The company's revenue has declined for the fourth consecutive year.