Nongshim establishes a European corporation and builds a business base to target the European market.
Nongshim announced on March 3 that it will establish a European corporation, 'Nongshim Europe B.V.', in Amsterdam, the Netherlands. The Netherlands, where Nongshim Europe will be located, has 'Rotterdam Port', the No. 1 logistics volume in Europe, and has excellent logistics infrastructure for the whole of Europe with ports and linked railway and land transportation networks.
Nongshim's move to establish a European corporation is due to the growth and diversity of the European market. The European ramen market is about 2 billion USD as of 2023, and it is growing rapidly, showing an average annual growth rate of 12% over the past five years (2019-2023).
During the same period, Nongshim's sales in Europe grew by an average of 25% annually, with a sharp increase in consumer interest and purchases. In particular, sales in 2024 grew by about 40% compared to the previous year, increasing the need to establish a corporation for aggressive market management.
In addition, the European ramen market has diverse demands for taste, with different No. 1 brands by country.
In order to target the European market, Nongshim plans to expand sales of major brands such as Shin Ramyun to major European distribution channels such as Tesco (UK), Rewe (Germany), Albert Heijn (Netherlands), and Carrefour (France and across Europe).
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