Corporate Profiles - 2024 - 40

GRAIN-BASED FOODS
Confectionery
Consumers continue buying sweet treats despite inflation
S confectionery sales hit a record high of $48 billion in 2023,
according to the 2024 " State of Treating " report from the
National Confectioners Association. The NCA said it expects
sales in the category to reach $61 billion by 2028.
Inflation played a part in the all-time-high sales amount, and it is
also affecting manufacturers of sweet treats, including The Hershey Co.
Michele Buck, president and chief executive officer of Hershey,
projected continuing headwinds into 2025 due to cocoa supply challenges
and price volatility. On an Aug. 1 earnings call, she said Hershey's
pricing approach has been measured but may need to change.
" We've absorbed a lot of inflation already, but we do believe we
need to pass some of it on, " Buck said.
U
LEADING
chocolate candy vendors
BOX/BAG/BAR >3.5 OZ
Dollar sales
1 The Hershey Co.
2 Mars, Inc.
3 Lindt & Sprüngli AG
4 Ghirardelli Chocolate Co.
5 Ferrero USA, Inc.
6 Ferrero Ardennes SA
7 Brookside Foods Ltd.
8 The Simply Good Foods Co.
9 Tootsie Roll Industries Inc.
Private label
Total
LEADING
chocolate candy brands
BOX/BAG/BAR >3.5 OZ
Dollar sales
1 Hershey's
2 M&M's
3 Lindt Lindor
4 Reese's
5 Ghiradelli
6 All other Mars products
7 Dove
8 Ferrero
9 Kinder
Private label
Total
$1,566,120,389
$1,223,066,024
$652,360,609
$547,589,078
$351,498,885
$346,514,929
$227,609,132
$146,121,708
$129,683,593
$933,196,936
$8,422,473,108
% change
from
year ago
-2.5%
0%
3.8%
-0.7%
7.3%
-3.8%
-7.9%
2.2%
15.4%
13.5%
2.1%
$2,718,851,774
$2,016,099,241
$652,360,609
$351,498,885
$254,456,441
$129,715,111
$113,002,141
$77,362,648
$68,454,925
$933,196,936
$8,422,473,108
% change
from
year ago
-2.7%
-2.1%
3.8%
7.3%
7.0%
15.4%
13.6%
-0.6%
-7.6%
13.5%
2.1%
Despite rising commodity prices and increasing costs at retail,
consumers continue to purchase sugary treats for holidays, special
occasions and indulgence.
This past year, more than 98% of US consumers bought some
type of confectionery product such as chocolate, candy, gum and
mints, the NCA report said. The occasion may be a holiday, a celebration,
a reward, an escape, a gift or something to share, the report
noted.
The top seller in the sector is chocolate candy. According to data
from the Circana market research firm, US sales of chocolate candy
reached $17.75 billion for the 52 weeks ended July 14, which was
up 2.2% from the year-ago period. Within the category, novelty
LEADING
non-chocolate chewy candy vendors
% change
from
Dollar sales
1 Mars, Inc.
2 Ferrara Candy Co.
3 Mondelez International, Inc.
4 Haribo of America, Inc.
5 Perfetti Van Melle
6 The Hershey Co.
7 Just Born Inc.
8 Albanese Confectionery Group Inc.
9 Storck USA LP
Private label
Total
LEADING
non-chocolate chewy candy brands
% change
from
Dollar sales
1 Skittles
2 Haribo
3 Sour Patch
4 Starburst
5 Airheads
6 Trolli
7 Sweetarts
8 Lifesavers
9 Albanese
Private label
Total
$397,794,788
$365,857,016
$345,070,209
$241,914,884
$206,858,754
$190,640,314
$152,921,171
$145,187,340
$124,871,364
$199,161,771
$4,138,055,076
Data for 52 weeks ended July 14, 2024
Total US - Multi-outlet with C-Store (Supermarkets, Drugstores and Mass Market Retailers, Gas/C-Stores, Military Commissaries and Select Club & Dollar Retail Chains)
Source: Circana OmniMarket Integrated Fresh
year ago
30.4%
1.5%
14.4%
-3.4%
12.4%
3.6%
10.5%
5.2%
11.7%
8.9%
7.7%
$903,671,703
$539,546,593
$451,549,471
$365,857,016
$207,142,936
$160,926,202
$139,318,446
$124,871,364
$107,820,807
$199,161,771
$4,138,055,076
year ago
15.2%
3.4%
12.3%
1.5%
11.5%
-0.7%
-7.5%
11.7%
6.4%
8.9%
7.7%
40 \ October 2024
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Corporate Profiles
INDUSTRY REVIEW: confectionery
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Corporate Profiles - 2024

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