AT A GLANCE
- Average bag of Halloween candy costs 78% more than five years ago.
- Cocoa shortages from climate change have created the largest global deficit in 60 years.
- Non-chocolate candy prices are also up due to higher labor and energy costs.
- Halloween candy sales still expected to reach $3.9 billion this year.
The Era of Cheap Chocolate Is Over
Halloween might still be full of costumes and candy, but the price tag on those treats is downright scary. The cost of an average 100-count bag of assorted Halloween candy has jumped from around $9 to $16 in just five years — a 78% increase, according to FinanceBuzz.
“The era of cheap chocolate is over,” said Alexis Villacis, agricultural economics professor at Ohio State University, who blames record-high cocoa prices on climate impacts devastating crops in West Africa.
Rising temperatures, irregular rainfall, and disease have created a half-million-ton cocoa deficit — the largest in six decades. Since cocoa trees take up to five years to mature, experts say the shortage won’t end anytime soon.
Where cocoa once traded between $2,000 and $3,000 per metric ton, prices shot above $10,000 earlier this year. David Branch of the Wells Fargo Agri-Food Institute said most chocolate candy sold this Halloween was made when cocoa prices were at their peak.
“Manufacturers had no choice but to raise prices just to break even,” Branch said.
Some chocolate makers, like Hershey’s, have raised prices by double digits, while others reformulate recipes to use less cocoa or incorporate cheaper ingredients such as caramel and nuts.
Non-chocolate candies haven’t escaped the trend. Data from the Bureau of Labor Statistics shows manufacturing costs for candy makers including energy, labor, and transportation have climbed 37% since early 2024.
Despite rising prices, Americans refuse to skip their sugar rush. The National Retail Foundation projects Halloween candy sales will reach $3.9 billion out of $13.1 billion in total Halloween spending this year, even as 79% of shoppers expect higher prices due to tariffs.
