The number of confectionery launches achieving sales of over $7.5m in the first year has almost tripled compared to historic averages, according to a report from Symphony IRI.
Symphony’s 2011 New Product Pacesetters report compiled some of the bestselling products in the food arena.
To be considered a pacesetter in Consumer Packaged Goods (CPG) new product launches must break a barrier of $7.5m (€5.69m) for first year sales.
Mars leads the way
The top selling new confection in 2011 was M&M’s Pretzel with $58.4m in first year sales, making it the fifth bestselling food and beverage product overall.
Susan Viamari, editor of times and trends at Symphony IRI Group said: “Mars Wrigley found great success with two products: Snickers Peanut Butter Squared and M&M’s Pretzel as well as with two sugarless gums: Wrigley 5 React and Wrigley Extra Dessert Delights.”
Symphoiny’s report said: “Together, these products play to a range of key snacking trends, including satiation, healthy-eating, indulgence, and on-the-go consumption.”
Mars made a total of eight pacesetter launches in 2011. Kraft made it onto the list with 10 new products with sales exceeding $7.5m last year.
Confectionery and gum launches accounted for 19% of all food launches with pacesetter status in 2011. On average, between 2002 and 2011 the category has made up just 7% of food pacesetters.
The number of bite-sized launches was up compared to historic averages, including bite-sized chocolates such as Wonka Exceptionals.
One product to look out for in next year’s pacesetter list is Nestlé’s Skinny Cow Chocolate Candy, which makes it in to the top 10 new product launches with the highest sales forecasts.
The new chocolate range contains 110 to 120 calories and comes in three flavours: milk chocolate, dark chocolate and peanut butter.