Retail Intelligence Mini Report: Chocolate/Jelly/Candy

Market Trends: Gift boxes proved especially popular in Asian markets, with distinct purchasing patterns in Japan and China. In Japan, gift boxes often contained 12, 6, or 5 pieces, making up seven of the Top 20 products, each priced over USD 15.10. Chinese consumers displayed a preference for larger assortments, frequently opting for boxes with 48 or 30 pieces, positioning gift boxes as highly sought-after items for gifting and special occasions.

Noteworthy Product: In the US, Reese’s Pieces Peanut Butter in a Crunchy Shell Halloween Candy Box (4 oz) was a popular option in Oct-24. The product fit in well with the high demand for Halloween themed candy during the month, owing to the Halloween celebration, which took place on October 31.

Industry News: The global chocolate industry faces rising prices, driven by high cocoa costs. Key factors include unfavorable growing conditions and crop diseases in Ivory Coast and Ghana, which produce two-thirds of the world's cocoa. The ICCO reported that cocoa prices in Aug-24 averaged USD 6,792/mt, a 97.2% increase from the previous year. While companies explore alternatives like lab-grown cocoa and cocoa-free technologies to mitigate supply challenges, these innovations are unlikely to replace traditional cocoa in the near term.