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Cocoa Squeeze Raises Candy Costs as Halloween Spending Hits a Record

A multi‑year cocoa shortfall has made chocolate more expensive, nudging shoppers toward cheaper fruity and gummy treats.

Overview

  • U.S. consumers are projected to spend a record $13.1 billion on Halloween, with a Friday holiday expected to boost celebrations.
  • Candy prices are up about 8% from last year and roughly 20% over three years, with cocoa costs having more than doubled since 2024.
  • Global cocoa supply has fallen to multi‑decade lows after repeated poor harvests tied to weather and crop disease, and West Africa provides roughly 60–70% of the world’s beans.
  • Retailers are steering value seekers to bulk buys and promotions, with Costco, Amazon, Target and Walmart offering large mixed bags and discounted non‑chocolate options.
  • Major brands have raised prices and leaned on shrinkflation and reformulations such as fillers and white‑creme coatings, while non‑chocolate sales are growing faster than chocolate according to retail data.