What's Happening?
The confectionery industry is experiencing a shift as non-chocolate candies like gummies and hard candies gain popularity, driven by Gen Z and millennials. These consumers favor bold, experiential snacks, prompting brands to innovate with multisensory experiences and wellness-oriented options. The Hershey Company is responding by accelerating product development cycles and leveraging cultural trends to create new offerings, such as freeze-dried candies inspired by social media.
Why It's Important?
The rise of non-chocolate confections reflects changing consumer preferences and the demand for innovative, experiential products. Brands that successfully adapt to these trends can capture new market segments and drive growth. The Hershey Company's approach highlights the importance of agility and cultural relevance in product development, which can lead to increased consumer engagement and brand loyalty.
