Mars offers key market insights with Sweets & Snacks opening session
This year’s Sweets & Snacks Expo includes a dynamic series of confectionery insights discussions, including an initial session led by Mars Wrigley confectionery, writes Neill Barston.
In the major US event’s opening day discussion session, the Chicago-headquartered confectionery group fielded its global president, Andrew Clarke, and US business president Anton Vincent offered their thoughts on key developments for the sector.
The two senior executives both asserted that the company remained in a notably strong position, despite wider supply chain prices, including rising costs of ingredients, which has impacted on the wider global industry.
Significantly, they both highlighted the continued rise of better-for-you category options was proving of core importance, alongside ensuring the renewed growth for its core product ranges. As they noted, the investment into bringing new businesses into its fold, such as Tru Fru, and the KInd snacking series, were a notable feature off its activity in luxury, yet healthier-focused product series.
This will be supported by fresh investments being made into research and development capabilities at its Goose Island global research and development site, which the global president said would come to play a decisive role in its continued growth within the US region and wider markets.
Anton Vincent also added that there had been strong category expansion across the business, including for its M&M’s brand, with the addition of a new purple flavour, which has sparked ongoing debate among fans of the brand.
For his part Andrew Clarke noted that the issue of sustainability was an integral part of its operations, and noted that consumers are seeking product ranges that are fully traceable, and are produced in an environmentally sound manner.
To that end, he also added that the company remained committed to its zero carbon commitments by 2050, which will require a significant level of focus over the next decade to drive meaningful impact for customers.
Speaking on its future aspirations, Andrew Clarke believed the company was well placed to take advantage of shifting consumer patterns.
“We have seen a lot of changes in the market since Covid-19, with shoppers wanting omni-channels, so it is about trying to improve our reach and convert enquiries into sales. It is a fascinating space that we will continue to support,” he explained, noting that the market as a whole has grown to become a major multi-billon industry that offers significant opportunities for the future,