Halloween remains America’s top holiday in terms of candy sales, but fewer consumers are choosing to buy chocolate as they prepare to shell out more money to satisfy sweet-toothed trick-or-treaters later this month.
Retailers are stocking their shelves with less chocolate and more gummies and licorice, which are more economical choices, according to Reuters. Candy such as Sour Patch Kids, Twizzlers Ghosts and products made by Mondelez are replacing pricier chocolate options.
Chocolate prices have jumped by more than 40% since 2020, Reuters reported. Those jumps have outpaced other food costs in terms of inflation as candy manufacturers are dealing with higher cocoa prices, according to the report. The price of cocoa is expected to cut candy production by 14%, according to ABC News.
Despite that, Americans are expected to spend around $3.5 million on candy for Halloween this year, the report indicated.
Yet, while chocolate remains the highest-priced treat with some bags of Halloween candy retailing for as much as almost $20 at stores like Target, non-chocolate offerings are also costing more as well.
Retailers told Reuters that non-chocolate candy prices have jumped by double digits. Industry experts say that seasonal chocolate costs are 7.5% higher than they were in 2023.
Candy companies have been dealing with higher costs as far back as Easter, the report said. Hershey’s, which makes popular treats such as Reese’s Cups, said that they experienced lower sales around Easter, which took a toll on quarterly numbers.
