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Hershey, the largest U.S. confections company, is famous for churning out billions of its indulgent Kisses, Reese s Peanut Butter Cups, Milk Duds and other sweet treats each year. But as consumer tastes have changed, the 127-year-old company is focusing more attention on innovating these core brands through low- or no-sugar, organic and bite-size offerings in an effort to grab a larger share of the better-for-you snacking category.
Only 6% of candy, mint and gum sales come from products defined as better for you, or about $1.3 billion per year, according to IRI data cited by Hershey. The food company estimated if that share rose to as high as 20%, putting it closer to the average found in other snacking categories, sales of better-for-you confections could surge to more than $4 billion, said Kristen Riggs, Hershey s chief growth officer.