Wow! Momo Foods Pvt. has rolled out its own line of instant noodles in a bid to grab a piece of this rapidly expanding market. This will bring it in direct contest with Nestle Ltd., ITC Ltd., and Marico Ltd.
The quick service restaurant chain, backed by Tiger Global, has launched five variants of cup noodles—Thukpa from Tibet, Khao Suey from Burma, Korean Noodles, Manchurian & Chilli Chicken. It is targeting Rs 100 crore in revenue within two years.
"This launch marks a significant step towards making Wow! Momo a household name beyond QSR," said Wow! Momo Group Founder and Chief Executive Officer Sagar Daryani.
India's instant noodles market is valued at Rs 18,000 crore, with cup noodles accounting for about Rs 400 crore, said Mithun Appaiah, CEO of the FMCG division. "We are confident about an exciting year ahead—bringing new flavours, scaling our distribution reach, and disrupting the FMCG space.”
Nestle's Maggi controls more than half of India's instant noodles market. The other players include ITC's Yippee and CG Foods' Wai Wai and Nissin cup noodles. Research firm Mordor Intelligence projects the instant noodles market in India to grow at a CAGR of 15.31% till 2028.
Currently, the company offers 9 SKUs of cup noodles across 200 towns and cities, more than 10,000 stores, and distribution points. It will also be available across quick commerce platforms. Additionally, Wow! Noodles will be available in the inflight menus of Akasa Air, Air India Express, and soon in the SpiceJet menu, according to the company.
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