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Industry Primers

Bottom-up NAICS industry primers written for both public-market and private investors. Leaf industries are researched from the ground up; every group, subsector, and sector above them reads as a contrast across the industries beneath it.

2122 industries · 24 sectors · NAICS 2022

Researched with AI assistance from official U.S. statistics and independent sources, with citations on every page. Figures are not individually verified against pinned evidence — primers marked Evidence-verified are. Industry research, not investment advice. Methodology.

National industryNAICS 311340

Nonchocolate Confectionery Manufacturing (U.S.) — NAICS 311340

An investor's primer. Reported figures are cited; forward-looking statements are flagged in the wording.

1. Overview

Nonchocolate confectionery is the business of turning sugar and corn syrup into gummies, hard candy, lollipops, sour candy, licorice, marshmallows, mints, and chewing gum. It is the fast-growing half of the U.S. candy aisle: non-chocolate candy retail sales grew almost 70% (nearly $5 billion) between 2019 and 2024, while chocolate stayed roughly flat.[1] The category's share of total U.S. confectionery rose from roughly one-third in 2015 to 40.9% in 2025, reaching $22.5 billion in retail sales that year (with gum a separate $4.1 billion category).[2] Think Skittles, Sour Patch Kids, Haribo Goldbears, Jolly Rancher, Nerds, Peeps, and Dum-Dums.

Why an investor cares: this is a defensive, high-repeat-purchase consumer category. Candy is an inexpensive "permissible indulgence" that holds up in downturns, sells on impulse at the checkout, and is protected by brands that are decades old and cheap to make. Margins are healthy, but the industry lives and dies by two commodity inputs — sugar and corn syrup — and by a handful of retail buyers.

Ways in: the public routes are thin. Only one U.S.-listed company, Tootsie Roll Industries, is essentially a pure non-chocolate maker, and it is small and family-controlled.[3] Broader exposure comes through Hershey and Mondelez, which own big non-chocolate brands but are mostly chocolate and snacks.[4][5] Most of the category — Mars, Ferrero/Ferrara, Perfetti Van Melle, Haribo, Just Born, Spangler — is privately owned, so private investors reach it through direct ownership, supplier/co-manufacturers, or acquisitions rather than the stock market.[6][7]

2. What it is and how it's structured

In scope (NAICS 311340): establishments that manufacture nonchocolate confectionery — hard candy, jelly and gummy candy, lollipops, licorice, marshmallows, marzipan, popcorn balls, toffee, candied and glazed fruit, non-medicated mints, and chewing gum. The Census product list also includes gum base, nonchocolate granola bars, candied or crystallized fruit and nuts, marshmallow cream, nonpharmaceutical cough drops, and cannabis-infused nonchocolate confectionery.[8][9]

Explicitly excluded (and where it goes):

  • Chocolate made from cacao beans → NAICS 311351 (Chocolate and Confectionery Manufacturing from Cacao Beans).[8]
  • Candy made from purchased chocolate → NAICS 311352 (Confectionery Manufacturing from Purchased Chocolate).[8]
  • Fudge/candy made and sold on the premises for immediate eating → NAICS 722515 (Snack and Nonalcoholic Beverage Bars).[8]

The line is the ingredient, not the company. Hershey, Mars, and Ferrero all straddle both the chocolate codes and 311340, because a Kit Kat line and a Jolly Rancher line are different plants.

Ownership mix: a small number of large multinationals own the leading brands (Mars and Ferrero are family/privately held; Hershey and Mondelez are public), sitting on top of a long tail of mid-size and regional private makers (Just Born, Spangler, American Licorice, Impact Confections). Domestic manufacturing is fairly fragmented even though the brand landscape is concentrated (see §8).

3. How big it is

Federal statistics for the U.S. manufacturing industry (our ground-truth Census/SBA figures):

Metric Value Source
Value of shipments/receipts $11.5 billion (2022) Economic Census[10]
Sales/shipments/revenue $12.7 billion (2023) Annual Integrated Economic Survey[11]
Establishments 577 (2023) County Business Patterns[12]
Firms 534 (2022) Economic Census[10]
Employment 28,988 workers (2023) County Business Patterns[12]
Production workers 21,356 (2022) Economic Census[10]
Annual payroll $1.81 billion (2023) County Business Patterns[12]
SBA small-business size standard ≤ 1,000 employees SBA[13]

That works out to roughly $62,000 in average annual payroll per worker — a mid-wage manufacturing base.[12]

Undercount / scope caveat. The $11.5 billion is factory-gate value from U.S. plants classified in 311340.[10] It is much smaller than what shoppers spend, and understates the category's real footprint, for three reasons: (1) retail sales are far larger — the National Confectioners Association put U.S. non-chocolate candy at $22.5 billion and gum at $4.1 billion in 2025 (retail, measured channels), the gap being distributor/retail markup;[2] (2) a large share of U.S. candy is imported (Haribo only opened its first American plant in 2023),[14] so foreign production never enters the Census figure; and (3) big diversified owners split output across many establishments and NAICS codes, so their non-chocolate volume is only partly captured here. This is not a government- or micro-operator-dominated industry, so the establishment counts are reliable — the caveat is about factory value versus true category size.

4. The investable universe

There is essentially one pure-play public company; everything else is either a diversified public snack giant or a private firm.

Public (listed):

Company Ticker Scale Non-chocolate relevance
Tootsie Roll Industries NYSE: TR ~$725M FY2025 revenue; ~$3.3B market cap[3][15][16] Closest thing to a pure play — Tootsie Pop, Charms, Blow Pops, Junior Mints, Dots, Sugar Daddy, Dubble Bubble, Razzles; family-controlled (Gordon family), thin float, low liquidity. FY2025 product gross margin ~35%, operating margin ~14%.[15][17]
The Hershey Company NYSE: HSY ~$11B+ total revenue[4] Mostly chocolate; owns Twizzlers, Jolly Rancher (~$400M and +25% in 2024), Ice Breakers, Bubble Yum, Sour Strips[4][18]
Mondelez International NASDAQ: MDLZ Global snacking major[5] Mostly chocolate/biscuits; owns Sour Patch Kids, Swedish Fish, Halls; sold its developed-market gum (Trident, Dentyne) to Perfetti Van Melle for $1.35B in 2023[5]

Private / other major owners (no public shares):

  • Mars, Incorporated (Mars Wrigley) — family-owned; Skittles, Starburst, Life Savers, Altoids, and Wrigley gum (Extra, 5, Orbit, Doublemint, Juicy Fruit, Big Red, Hubba Bubba). One of the largest confectioners in the world. Mars completed its acquisition of Kellanova in December 2025, removing another adjacent public-market route.[6][19][20]
  • Ferrero Group (Ferrara Candy Co., U.S.) — privately held (Italy); Nerds, SweeTarts, Trolli, Brach's, Laffy Taffy, Now and Later, Lemonhead, Red Hots, Atomic Fireball, Black Forest. Ferrara reported ~20% U.S. non-chocolate market share and ~$2.2B pro-forma net sales, having rolled up Nestlé's U.S. candy (2018) and Jelly Belly (2023).[7][21][22]
  • Perfetti Van Melle — private (Italy/Netherlands); Airheads, Mentos, Chupa Chups, plus the Trident/Dentyne gum it bought from Mondelez in 2023.[5][23]
  • Haribo — private (Germany); became the leading U.S. gummy brand in 2018 and opened its first North American plant in Pleasant Prairie, Wisconsin in 2023 (~500,000 sq ft, nearly 200 employees at opening, targeting ~132M lbs/year).[14][24]
  • Just Born (Peeps, Mike & Ike, Hot Tamales), Spangler Candy (Dum-Dums, candy canes, Circus Peanuts, Sweethearts), American Licorice (Red Vines, Sour Punch), Impact Confections (Warheads) — regional private makers.[25][26]

Bottom line: public-market investors have one small pure play and two diluted proxies; the real depth of the category is private. Neither Tootsie Roll nor Hershey reports a standalone NAICS 311340 segment.[15][27]

5. How the money works

This is a commodity-input, brand-output manufacturer, so the economics look like food processing, not like a retailer or a tech firm.

  • Capacity utilization and throughput. Fixed-asset plants (cookers, extruders, starch-molding lines) reward running full. A gummy or hard-candy line is cheap per unit once it's running; idle capacity is the enemy. Seasonal peaks (Halloween, winter holidays) drive a big second-half build in inventory and working capital. Tootsie Roll builds inventory and adds workers in Q2–Q3 ahead of Halloween; sales peak in Q3, with Christmas, Valentine's Day, and Easter also important.[15]
  • Input costs are the swing factor. Sugar and corn syrup are the largest ingredients, followed by gelatin, starch, flavors, colors, and packaging, plus energy. U.S. makers pay a structural penalty here: the federal sugar program keeps domestic sugar prices near double the world price (see §7), directly compressing gross margin and, over decades, pushing some sugar-heavy production offshore.[28][29] Tootsie Roll describes hedging — primarily sugar — along with annual supply agreements and pricing as mitigation, while warning that price increases or reduced package weights can damage volume.[15]
  • Price versus volume. Recent years show the classic manufacturer trade-off: candy makers pushed through inflationary price increases, so dollar sales rose while unit volumes fell in 2024–2025.[30] Tootsie Roll's 2024 revenue dropped ~6% as buyers reacted to earlier price hikes — a reminder that demand is only moderately, not perfectly, inelastic.[3]
  • Brand and impulse unit economics. The moat is brand plus distribution and shelf/checkout placement. Candy is an impulse buy across mass, grocery, convenience, dollar, and club channels; winning the checkout lane and the seasonal end-cap matters more than product complexity. Private label is a modest share of candy versus other grocery categories, which protects branded margins.
  • Customer concentration. Scale plants depend heavily on a few large buyers. Tootsie Roll disclosed that McLane, Walmart, and Dollar Tree together represented approximately 36% of its 2025 product sales.[15]
  • Licensing and co-manufacturing. Scale plants run other companies' brands under license (e.g., Spangler makes licensed lollipops), adding volume without marketing spend.[25]

Owners make money by holding enduring, cheap-to-produce brands, running plants at high utilization, managing the sugar bill, and defending shelf space — not by reinventing the product.

6. What drives demand

  • Seasons and gifting. The "big four" candy seasons — Valentine's Day, Easter, Halloween, and the winter holidays — accounted for 63% of all confectionery sales in 2025, with winter alone at ~$7.5 billion.[2] Timing (e.g., which weekday Halloween falls on) measurably moves the year.
  • Affordable indulgence. Candy benefits from the "small treat" effect — a cheap pick-me-up that consumers keep buying when they trade down from bigger discretionary purchases.
  • Innovation and virality. Gummy, sour, and novelty formats are the growth engine; freeze-dried candy, sour lines, character/licensing tie-ins, and social-media trends (TikTok) drive bursts of demand. Jolly Rancher's move into gummies is a case study — the brand hit ~$400M in 2024, up 25%.[18]
  • Adult "permissible" snacking, portion packs, and better-for-you formats (reduced-sugar, sugar-free, dye-free). Mars announced alternatives without FD&C colors for Skittles, Starburst, and Extra in 2026, alongside a reduced-sugar Starburst product.[31]
  • The GLP-1 counter-current (forward-looking). Weight-loss drugs (Ozempic, Wegovy, Mounjaro), used by an estimated 8–10% of U.S. adults, suppress appetite and impulse snacking, and studies show GLP-1 households cutting sweets spending.[32][33] So far this has slowed but not reversed non-chocolate growth, and it is spurring functional gummies, mints (a noted side-effect market), and reduced-sugar lines.[33] The net effect over the next several years is a genuine uncertainty for the category.

7. Regulation

  • Food labeling (FDA). Standard Nutrition Facts rules apply, including the mandatory added-sugars line and allergen disclosure — relevant for a category that is essentially sugar.
  • Color additives. The FDA revoked the authorization for Red Dye No. 3 in January 2025, with food makers required to reformulate by January 15, 2027.[34] California's 2023 Food Safety Act (AB 418) separately bans Red 3, brominated vegetable oil, potassium bromate, and propylparaben from January 1, 2027.[35] A broader political push against synthetic dyes is driving reformulation across the industry; several candy makers (Ferrara, Just Born, Mars) began phasing dyes out early.[31][34]
  • Food traceability. Products containing ingredients on FDA's Food Traceability List may trigger enhanced lot-level records under the FSMA traceability rule; enforcement is currently deferred until July 20, 2028.[36]
  • The U.S. Sugar Program (USDA). Marketing allotments, tariff-rate quotas, and high out-of-quota tariffs restrict imported sugar and support domestic prices — leaving U.S. buyers, including candy makers, paying roughly twice the world price.[28][29] Advocacy estimates put the cost at $2.4–$4 billion a year and tie thousands of confectionery/food-processing job losses to it.[29] This is the single most important regulatory fact for U.S. non-chocolate economics.
  • Trade and tariffs. The category is import-exposed (Haribo, Perfetti, and others historically shipped into the U.S.), so import tariffs and sugar TRQs cut both ways — raising input costs and shaping the make-versus-import decision that led Haribo to build in Wisconsin.[14]
  • State and local. Sugar/soda taxes and school-food dye restrictions add a patchwork of compliance and reformulation pressure.

8. Competitive dynamics and consolidation

A defining feature: fragmented manufacturing, concentrated brands. At the plant level the industry is not concentrated — the top four firms hold about 33% of shipments, the top eight ~44.6%, the top twenty ~68.2%, across 534 firms, with a Herfindahl-Hirschman Index of just 433.6 (well below the ~1,500 antitrust "moderately concentrated" line).[10] But the brand landscape is dominated by a few multinationals, because Census counts U.S. establishments while brand share is measured at retail (Ferrara alone claims ~20% of non-chocolate retail).[7][10] The gap reflects imports and multi-plant, multi-code owners.

Consolidation has been the dominant strategic story:

  • Ferrero's roll-up: Ferrara (2017) → Nestlé's U.S. confectionery business (2018) → Jelly Belly (2023), assembling a full-line non-chocolate portfolio.[7][21]
  • Perfetti Van Melle bought Mondelez's developed-market gum (Trident, Dentyne, Chiclets) for $1.35B in 2023, as Mondelez refocused on chocolate/biscuits.[5]
  • Mars/Kellanova: Mars completed its acquisition of Kellanova in December 2025, consolidating adjacent snacks and removing a public-market route into bars and related categories.[20]
  • Reshoring: Haribo's first U.S. plant (2023) localized production that used to be imported.[14]

Competition is fought on brand strength, distribution reach, retailer relationships, seasonal execution, and innovation speed — with escalating pressure from a few very large retail buyers.

9. Risks

  • Input-cost and sugar-policy risk. Sugar, corn syrup, gelatin, packaging, and energy are volatile, and the U.S. sugar program bakes in a structural cost premium U.S. makers can't escape.[28][29]
  • Health and regulatory pressure. Added-sugar scrutiny, dye bans and reformulation cost, potential sugar taxes, and marketing-to-children concerns.[34][35]
  • GLP-1 demand erosion (forward-looking) on impulse snacking.[32][33]
  • Volume elasticity. After years of price increases, further hikes risk volume declines and trade-down (as Tootsie Roll's 2024 sales dip showed).[3][30]
  • Retail-buyer concentration. A handful of mass/club/dollar retailers hold pricing leverage over suppliers. Tootsie Roll's top three customers account for ~36% of product sales.[15]
  • Seasonality and timing. Heavy dependence on four holidays makes weather, calendar, and execution errors costly.[2]
  • Food safety and traceability. Recall, liability, and retailer-delisting risk from cooking, foreign-material, sanitation, or allergen failures; enhanced traceability requirements take effect in 2028.[36]
  • Investor-specific. For public investors, Tootsie Roll is illiquid and family-controlled with a premium valuation, while Hershey/Mondelez offer only diluted non-chocolate exposure.[17]

10. How to invest, and the outlook

Public routes. The cleanest listed exposure is Tootsie Roll (TR) — but it is small, thinly traded, family-controlled, and usually richly valued.[3][17] For liquidity and diversification, Hershey (HSY) and Mondelez (MDLZ) give partial non-chocolate exposure inside larger chocolate/snack businesses.[4][5] Kellanova is no longer a public-market route into adjacent bars and snacks following Mars's December 2025 acquisition.[20] There is no pure U.S. non-chocolate ETF; broad consumer-staples funds are the practical index route.

Private routes. Because Mars, Ferrero/Ferrara, Perfetti Van Melle, Haribo, Just Born, and Spangler are all private, private-market investors reach the category through direct or private-equity ownership of regional makers, through suppliers and co-manufacturers (ingredients, packaging, contract production), or by underwriting the M&A that is the sector's main liquidity event.[6][7]

Outlook (forward-looking). Federal projections point to only low-single-digit volume growth for U.S. candy/nonchocolate output.[37] Within that, non-chocolate is expected to keep outgrowing chocolate, led by gummies, sour, and novelty formats, and by reduced-sugar and dye-free reformulation.[2][18] The swing factors to watch are the cost of sugar, the pace and cost of dye reformulation, tariff/trade policy, and the still-unresolved GLP-1 effect on impulse snacking. This is a slow-growing, cash-generative, brand-driven category — attractive for durability and pricing power, constrained by commodity costs and a shifting health-and-regulatory backdrop.

Sources

  1. National Confectioners Association, "State of Treating 2025" / "Confectionery Sales Break Records, Surpass $54 Billion in 2024," 2025. https://candyusa.com/state-of-treating-2025/; https://candyusa.com/cst/confectionery-sales-break-records-surpass-54-billion-in-2024/
  2. National Confectioners Association, "State of Treating 2026" / "Confectionery Sales Climb to $55 Billion in 2025," 2026. https://candyusa.com/stateoftreating; https://candyusa.com/news/confectionery-sales-climb-to-55-billion-in-2025/
  3. Tootsie Roll Industries, FY2024 results (Form ARS / 8-K), U.S. Securities and Exchange Commission, 2025. https://www.sec.gov/Archives/edgar/data/98677/000110465925028780/tm257009d2_ars.pdf
  4. The Hershey Company, Form 10-K FY2024, SEC, 2025. https://www.sec.gov/Archives/edgar/data/47111/000004711125000014/hsy-20241231.htm
  5. Food Dive / Mondelēz International Investor Relations, "Mondelēz sells developed-market gum business to Perfetti Van Melle for $1.35B," 2022–2023. https://www.fooddive.com/news/mondelez-sells-gum-business-trident-dentyne/639087/
  6. Mars, Inc., brand portfolio, 2025. https://www.mars.com/our-brands/all-brands; Wikipedia, "List of Mars Inc. brands." https://en.wikipedia.org/wiki/List_of_Mars_Inc._brands
  7. Ferrara Candy Company, "Ferrara Announces FY 2023 Performance," 2024. https://www.ferrara.com/us/en/ferrarar-candy-company-announces-fy-2023-performance; Ferrara Candy Company, Wikipedia. https://en.wikipedia.org/wiki/Ferrara_Candy_Company
  8. U.S. Census Bureau, NAICS 2022 definition, code 311340 "Nonchocolate Confectionery Manufacturing" (via IBISWorld classification summary), 2022. https://www.ibisworld.com/classifications/naics/311340/nonchocolate-confectionery-manufacturing/; https://www.census.gov/naics/?details=311340&input=31134&year=2022
  9. U.S. Census Bureau, Annual Survey of Manufactures product definitions (MA311D questionnaire). https://www2.census.gov/programs-surveys/cir/technical-documentation/questionnaires/annual/ma311d.pdf
  10. U.S. Census Bureau, Economic Census 2022 — Concentration by Largest Firms, NAICS 311340 (receipts $11.5B; 534 firms; CR4 33%, CR8 44.6%, CR20 68.2%, CR50 87.4%; HHI 433.6). [Ingested federal data]
  11. U.S. Census Bureau, Annual Integrated Economic Survey 2023, NAICS 311340 (sales/shipments/revenue $12.733B). https://data.census.gov/table/AIESBASICTIMESERIES.AIES31BASIC01
  12. U.S. Census Bureau, County Business Patterns 2023, NAICS 311340 (577 establishments; 28,988 employees; annual payroll $1,806,893 thousand). [Ingested federal data]
  13. U.S. Small Business Administration, Table of Small Business Size Standards, NAICS 311340 (1,000 employees), 2023. [Ingested federal data]
  14. PR Newswire / Haribo, "HARIBO opens first factory in the U.S. (Pleasant Prairie, Wisconsin)," 2023. https://www.prnewswire.com/news-releases/haribo-opens-first-factory-in-us-introduces-new-gummi-innovation-for-summer-wild-berry-goldbears-301887187.html; https://www.haribo.com/en-us/news/haribo-opens-first-factory-in-u-s-introduces-new-gummi-innovation-for-summer-wild-berry-goldbears
  15. Tootsie Roll Industries, Form 10-K FY2025, SEC, 2026. https://www.sec.gov/Archives/edgar/data/98677/000110465926021621/tr-20251231x10k.htm
  16. StockAnalysis, "Tootsie Roll Industries (TR) Market Cap," 2026. https://stockanalysis.com/stocks/tr/market-cap/
  17. Wikipedia, "Tootsie Roll Industries" (Gordon-family control) and Forbes, "Ellen Gordon," 2025–2026. https://en.wikipedia.org/wiki/Tootsie_Roll_Industries
  18. Food Dive, "Hershey's Jolly Rancher ropes in success with move away from hard candy" (~$400M, +25% in 2024), 2025. https://www.fooddive.com/news/hersheys-jolly-rancher-ropes-in-success-by-sticking-to-its-flavorful-roots/749449/
  19. CandyRetailer, "Mars, Inc." brand overview (Skittles, Starburst, Life Savers, Altoids, Wrigley gum), 2025. https://blog.candyretailer.com/mars-inc/
  20. Mars, Inc., Kellanova acquisition completion, SEC filing, December 2025. https://www.sec.gov/Archives/edgar/data/55067/000119312525315130/d90636dex991.htm
  21. Britannica Money, "Ferrero Group — History, Brands, Acquisitions & Growth," 2025. https://www.britannica.com/money/Ferrero-Group
  22. Ferrara Candy Company, corporate profile and sustainability report, 2024–2026. https://www.ferrara.com/us/en/about-us; https://www.ferrara.com/sites/default/files/2026-02/fer0001_02032026_sustreport2024_r5.3.pdf
  23. Perfetti Van Melle, brand portfolio. https://www.perfettivanmelle.com/our-brands/overview/
  24. Haribo, company history (leading U.S. gummy brand 2018). https://www.haribo.com/en-us/about-us/history
  25. Wikipedia, "Spangler Candy Company" (Dum-Dums, candy canes, licensed lollipops), 2025. https://en.wikipedia.org/wiki/Spangler_Candy_Company
  26. Wikipedia, "Just Born" (Peeps, Mike & Ike, Hot Tamales), 2025. https://en.wikipedia.org/wiki/Just_Born
  27. The Hershey Company, Form 10-K FY2025, SEC, 2026. https://www.sec.gov/Archives/edgar/data/47111/000162828026008586/hsy-20251231.htm
  28. USDA Economic Research Service, "Sugar and Sweeteners — Policy," 2024–2025. https://www.ers.usda.gov/topics/crops/sugar-and-sweeteners/policy; Wikipedia, "U.S. Sugar Program." https://en.wikipedia.org/wiki/U.S._Sugar_Program
  29. American Enterprise Institute, "Recapping the Effects of the U.S. Sugar Program" (cost $2.4–$4B/yr; 17,000–20,000 job losses), 2022. https://www.aei.org/wp-content/uploads/2022/01/Recapping-the-Effects-of-the-US-Sugar-Program.pdf
  30. NACS / National Confectioners Association, "Candy Dollar Sales Up, Unit Sales Decline in 2024," 2025. https://www.convenience.org/stay-current/news/2025/march/5/1-nca-candy-sales-up-unit-sales-decline_research
  31. Mars, Inc., "Mars Wrigley U.S. Extends Consumer Choice" (dye-free Skittles, Starburst, Extra; reduced-sugar Starburst), 2026. https://www.mars.com/news-and-stories/articles/mars-wrigley-us-extends-consumer-choice
  32. Cornell Chronicle, "Ozempic is changing the foods Americans buy," 2025. https://news.cornell.edu/stories/2025/12/ozempic-changing-foods-americans-buy
  33. ConfectioneryNews, "GLP-1 drugs reshape confectionery demand — but sales keep growing," 2026. https://www.confectionerynews.com/Article/2026/06/24/glp-1-drugs-reshape-confectionery-demand-but-sales-keep-growing/
  34. FDA / CNN, "FDA revokes authorization for Red Dye No. 3; food reformulation required by January 2027," January 2025. https://www.fda.gov/food/hfp-constituent-updates/fda-revoke-authorization-use-red-no-3-food-and-ingested-drugs; https://www.cnn.com/2025/01/15/health/red-dye-no-3-ban-fda-wellness/index.html
  35. California Legislature, Assembly Bill 418 (California Food Safety Act), 2023. https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202320240AB418
  36. FDA, FSMA Final Rule on Requirements for Additional Traceability Records for Certain Foods (enforcement deferred to July 20, 2028). https://www.fda.gov/food/food-safety-modernization-act-fsma/fsma-final-rule-requirements-additional-traceability-records-certain-foods
  37. IndexBox, "United States' Candy, Sweets and Nonchocolate Confectionery Market Overview 2024" (low-single-digit CAGR outlook), 2024. https://www.indexbox.io/blog/candy-sweets-and-nonchocolate-confectionery-united-states-market-overview-2024-1/