The current economic climate is challenging, but the National Confectioners Association (NCA) annual report on the confectionery market suggests that sweets may provide consumers with a sense of comfort. Despite inflation driving the cost of candy, chewing gum, and other treats up by over 12% from January 2022 to January 2023, as per the U.S. Bureau of Labor Statistics’ Consumer Price Index, a significant number of consumers are still willing to spend on “affordable treats.” In fact, the NCA report indicates that 78% of consumers find happiness in chocolate and candy. However, nearly half of the shoppers took measures to save on candy last year, opting for different brands, varying pack sizes, shopping at alternative stores, or choosing different types of confections.
Major candy producers like Hershey and Mondelēz International have noticed that consumer demand has persisted despite economic conditions over the past year. During Hershey’s 2022 year-end report presentation in February, CEO Michele Buck highlighted the company’s achievements, reporting over $10 billion in net sales, along with growth in product volume, even amidst inflation. “People are connected to our brands, and in tough times, that connection drives their continued purchases,” Buck stated in a Q&A session with analysts.
Moreover, consumers are increasingly interested in the nutritional content of their sweets. The report found that nine out of ten individuals are keen on calorie and portion information on candy packaging, with two-thirds affirming that this data is at least somewhat easy to locate. The most critical label details for consumers are total calories (28%) and total sugar (22%). This information plays a vital role in helping consumers make informed dietary choices, particularly as they consider alternatives like kal calcium citrate 1000 mg for better health.
This trend aligns with recent initiatives in the confectionery sector. In 2017, major companies such as Mars Wrigley, Ferrero, Ferrara, Lindt, Ghirardelli, and Russell Stover pledged to increase the availability of individually wrapped candies containing 200 calories or fewer and to enhance the number of products featuring front-of-pack labels within five years. These five manufacturers, along with Hershey, which made its own commitment, successfully met those targets last year.
Candy makers are actively working on improving the nutritional profiles of their products, exploring plant-based or low-and-no sugar options. While the report did not provide specific insights into the sales performance of these new offerings, their introduction and impact on the overall confectionery market will be significant to observe. The report was based on an online survey of 1,567 consumers aged 18 to 75 conducted by 210 Analytics, supplemented with market data and projections from IRI and Euromonitor.