On Halloween this year, the prices of chocolates in the United States have skyrocketed. From Snickers, Reese’s to Twix, these favorite festive snacks of Americans have become more expensive due to inflation, tariffs, and soaring cocoa prices. Data shows that the market share of chocolates in Halloween candy sales has declined.
According to data from the market research firm Circana and the US Bureau of Labor Statistics, chocolate prices have risen by nearly 30% since last Halloween, with an increase of 78% over the past five years. Finance website FinanceBuzz found that a bag of 100 assorted chocolates is now priced at $16.39, compared to $7.20 in 2020.
Think tanks The Century Foundation and Groundwork Collaborative pointed out that Hershey, the manufacturer of Reese’s and KitKat, raised the price of assorted chocolates by about 22% this year, while Mars’ M&M’s and Milky Way increased by approximately 12%.
Kirk Tanner, CEO of Hershey, stated, “The start of this sales season has been slow.” He warned that holiday sales this year may not meet expectations.
Data from YouGov shows that about four out of five Americans will buy candy on Halloween. Statistics from the National Confectioners Association (NCA) show that candy sales during Halloween account for about 18% of total annual candy sales in the United States, second only to Christmas.
Circana data shows that the dominance of chocolates in the Halloween candy market is declining. Last year, chocolates accounted for 52% of Halloween candy sales, dropping to 44% this year, indicating that consumers are shifting towards cheaper and trendier candies.
Sally Wyatt, a global consumer goods analyst at Circana, said, “This is the cumulative effect of multiple economic pressures, combined with our consumption growth outpacing wage growth. As a result, many people are beginning to budget more carefully on non-essential items.”
Data from The Century Foundation indicates that candy prices have increased by about 10% this year compared to last year, exceeding the overall inflation rate in the US. However, the National Retail Federation predicts that candy sales in the US will reach a historic high in 2025, with Halloween candy sales alone expected to reach $3.9 billion.
Carly Schildhaus, a spokesperson for the National Confectioners Association, told CNBC, “Despite the overall increase in food prices, American consumers are still maintaining spending on chocolates and candies within their budgets. This industry remains strong, vibrant, and continues to grow.”