The Yumy Candy Company Inc., Canada's first publicly traded low-sugar, plant-based confectionery company, reports it has exceeded expectations with initial sales volumes through Walmart, now ranking as the company's top revenue driving customer for last quarter. The company expects revenues to be in the multiple millions, with Strawberry Kiwi is currently seen as the top seller, with Peach coming in second, and Sour Watermelon as a close third. These revenues have been a result of an initial roll out into the chain, of which the company expects to expand further after proving demand.
The company is proud to announce the success of its repeat sales into the candy aisle, which have exceeded sales expectations in Walmart stores nationwide. The Yumy Bear portfolio is vegan, gluten-free, and low sugar, offering a healthier alternative to traditional candy.
Yumy previously announced its roll out of its Yumy Bear products into hundreds of locations through Walmart Canada being featured in the "Better for You" sections of Walmart's Nationwide. In just a few months, the healthy candy product has seen a significant increase in sales, outpacing other products in the same category. The company attributes this success to the growing demand for healthier snacks and the high quality of the product. As per Walmart's initiatives, "Providing and improving access to affordable, nutritious food is central to Walmart's core business as well as its philanthropic efforts around the world. Our efforts to provide more affordable, nutritious food include increasing our assortment of nutritious food, improving access to nutritious food, and engaging and educating customers and communities on making better food choices."
"It's clear that there is a growing demand for healthier snack options, and we're proud to be at the forefront of this trend by offering this innovative product in widely accessible retail stores. By developing the additional Yumy Soda line, we expect these new SKU's will contribute to meeting our revenue projections in current sales channels as well," states Erica Williams, chief executive officer at The Yumy Candy Company. "We plan to use proven sell-through rates and sales data to contribute to our sales pitch, showcasing proven demand for our low-sugar, vegan confectionery products."
The U.S. confectionery market size was valued at USD 38.17 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. In recent years, confectioneries, particularly chocolate and candies, gummies, and jellies have gained immense popularity among consumers across the U.S. Consumers are now seeking high-quality and tasty confectioneries in different variants. This factor is anticipated to drive the growth of the confectionery industry in the U.S. over the forecast period.