Dive Brief:
- Nestle wants to take a bite out of the $300 million licorice market with its new SweeTARTS Soft & Chewy Ropes, the company's revamped erstwhile Kazoozles.
- BNP Media says that licorice trends now point to "softer and more natural," with Nestle seemingly hoping to hone in on the trend.
- The Hershey Co. currently dominates the licorice market with a more than two-thirds share, mainly from Twizzlers.
Dive Insight:
Licorice is the biggest non-chocolate candy in the U.S., and while Hershey sits comfortably atop the market, Nestle could give the company a run for its money. However, at this point, Hershey's focus has been captured by considering a decision to remove high fructose corn syrup from some of its products, taking a stand against UK chocolates in the U.S., and making acquisitions like The Allan Candy Co. and Krave Pure Foods Inc.
Correction: A previous version of this article said Nestle was at the top of the market, but it is in fact Hershey.