The price of chocolate has increased roughly 30% since last Halloween due to inflation, tariffs and a global cocoa shortage, according to a CNBC report.
Circana, a global market research and technology company, reports that chocolate’s share of Halloween sales dropped from 52% to 44%, with shoppers buying more gummies and sour candies.
In the past five years, chocolate prices have increased by 78%, and a 100-piece variety bag of candy has increased by about $7 since 2020. More variety packs have arrived on store shelves in a bid to sell more chocolate.
Halloween season makes up about 18% of annual U.S. confectionery sales, according to the National Confectioners Association.
Much like coffee beans, rising temperatures have negatively affected crop seasons, and the world is in its largest cocoa deficit in 60 years. Prices of cocoa beans sit at around $6,000, more than double the pre-COVID-19 pandemic average.
