TL;DR
The gummy candy market is booming, with consumers showing continued interest in both traditional and innovative gummy products. Despite a slight decrease in unit sales, dollar sales have increased, proving that consumers still love treating themselves to gummy candies. To stay competitive, independent retailers should consider testing new gummy brands in their stores. By working with analytics platforms like Evidnt, retailers can find top-selling candy brands and flavors based on sales from similar stores.
When it comes to the gummies game, the number of players in the field keeps growing. What’s even more exciting is the increasing playfulness in the gummy industry, with new shapes and exotic flavors grabbing the attention of candy lovers. Although unit sales might have seen a small dip, consumers remain interested in both traditional gummies and those with a twist, such as vegan options, gummies with added vitamins or health benefits, and more.
According to market data, the “non-chocolate chewy candy” category, where gummies fall, reached $5.8 billion in sales for the 12-month period ending May 23, 2023. While unit sales saw a decrease among some of the top-performing companies, overall sales increased for almost every ranked producer. This indicates that consumers are still eager to indulge in gummy candies despite price increases and challenging times.
It’s worth noting that Haribo led the pack with $536.6 million in sales, experiencing a significant 19.6% year-over-year growth. Sour Patch Kids, a Mondelēz International brand, also saw sweet success with $442.4 million in sales, a growth of 16.3% compared to the previous year. Even long-standing companies like Albanese, despite being ranked slightly lower, achieved a healthy increase of 27.6% with $135.6 million in sales.
Analyzing the performance of gummy companies, it’s interesting to see that only one experienced a decrease in sales. Swedish Fish dipped slightly by 0.6%, but still reached an impressive $125.3 million in sales. Private-label sales also decreased by 6.5% during the period to $250.4 million.
To cater to the evolving preferences of gummy consumers, it’s essential for independent retail store owners to stay informed and adapt. One way to achieve this is by working with analytics platforms like Evidnt, which can provide valuable insights into the top-selling candy brands and flavors based on sales data from similar stores. By identifying the best-performing gummy products, retailers can make informed decisions when testing new brands in their stores.
Consumers are increasingly seeking a balance of indulgence, wellness benefits, and quality when shopping for gummies. To meet these demands, it’s crucial for gummy producers to prioritize innovation and regularly reevaluate their products. By making tweaks to packaging, formulations, and formats, companies can better cater to their customers’ needs and stand out in the saturated market.
In today’s digital age, social media has emerged as a powerful tool for candy producers to connect with consumers and for gummy candy fans to share their love for the treats. Consumers are increasingly interested in fun, visually appealing experiences that they can share with their friends. For example, consumers create and share their own charcuterie boards made out of gummy candies, which provides an engaging and creative experience.
To thrive in the competitive gummy market, it’s important to keep an eye on consumer preferences and deliver what piques their interest. Offering a variety of shapes, sizes, and flavors will cater to consumers’ desire for novelty and variety. By staying innovative and staying on top of consumer demand, gummy producers can ensure their chances of success remain high.
The gummy candy market is thriving, and independent retail store owners should seize the opportunity to test new gummy brands in their stores. Staying flexible, prioritizing quality and innovation, and understanding consumer preferences will be key to standing out in the market and attracting candy-loving consumers.
