Increases in candy prices have significantly dropped
Spending on Halloween candy is expected to hit record levels this year, but prices haven't gone up much for parents.
Halloween candies are projected to rake inaround $4.1 billionin 2024, nearly double the spending from a decade ago,according to S&P Global Market Intelligence.
That amounts to around $30.89 spent on Halloween candy perhousehold, S&P said.
Still, price increases have significantly cooled:Candy prices are up only 0.9% in 2024, compared with6% in 2022 and 14% in 2021, S&P said.
But prices for sugar and cocoa have continued to rise by double digits, forcing candy makers to focus more on non-chocolate candies, S&P said.
Shoppers can expect to see two trends this year:The earlier appearance of seasonal sweets on shelves and fewer non-chocolate candies, S&P said.
"Both trends come as candy makers and retailers try to capitalize on continued demand for celebrating and shoppers' constant hunt for a good deal," said Michael Zdinak, director of U.S. economics at S&P Global Market Intelligence.
What Halloween candies are cheaper or more expensive?
The majorityof the 10 most popular Halloween candies have come down in price in 2024 from a year ago, with a few exceptions, according to Amazon market data analyzed by e-commerce consultancyPattern.
Prices declined for candy corn, Starburst, Reeses, Smarties, Jolly Ranchers and Skittles, Pattern said, while they rose for gummy bears, Sour Patch Kids, Tootsie Rolls and Twix.
Candy corn had the biggest decline, falling to $16.88 from $18.73, and gummy bears had the biggest increase, rising to $20.58 from $15.04.
Parents may also want to watchout for the ingredients in Halloween candy.
Titatinum dioxide, commonly found in sunscreen andbanned in Europe as a food additive, often appears in candies, such as candy corn, Sour Patch Kids, Skittles and Warheads, according to nonprofit Center for Science in the Public Interest.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-10-25 00:16:58
