Gardena / CA. (bc) Nissin Foods USA reported notable gains during the fourth quarter of 2022, reporting a 41 percent increase in sales versus the same time a year ago. The continued strong growth has allowed Nissin Foods to solidify its position as a US market leader in the instant ramen category, reporting a 32 percent YoY jump in overall category growth.
«Nissin Foods has seen monumental growth over the past five years, significantly outpacing the category. The key growth drivers have been leveraging global leadership in product development and innovation,» said Michael Price, President and CEO of Nissin Foods USA. «This has set Nissin Foods on a trajectory to catapult beyond our competitors and regain our leadership position in the U.S. market.»
Nissin Foods success in growing sales and market share is attributed to launching exciting and new innovative products. To date, Nissin Foods holds an impressive 40 percent share of the premium instant ramen category, firming its hold as the U.S market leader.
The continued growth in the instant ramen category required the company to keep up with demand. This included a multi-million dollar investment in the Nissin Foods Lancaster Plant installing an additional line, expanding its overall capacity by 15 percent. This follows the 2020 opening of the brand’s distribution center in Lancaster, Pennsylvania.
In addition to the company’s growth, Nissin Foods remains committed to its «Earth Food Challenge 2030» by integrating sustainability initiatives designed to supplement the electricity used in business activities with renewable energy. One of the latest initiatives includes the implementation of solar panels at Nissin Foods USA Headquarters in Gardena, California, providing 100 percent of the electricity for the corporate office, along with the introduction of EV charging stations.