Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - The Yumy Candy Company Inc., (CSE: TYUM) ("Yumy" or the "Company"). The Yumy Candy Company Inc. has exceeded expected sales volumes this year as Walmart, now ranking as the company's top-revenue-driving customers, continues pushes for products to move throughout its stores. The Company currently has 5 products in Walmart: strawberry kiwi, peach, orange, cola, and sour watermelon. It expects revenues to increase, with strawberry kiwi currently seen as the top seller, followed by peach coming in second and sour watermelon as a close third. The demand from the Company's suppliers is proving to be a great windfall to the Company's bottom line. The company is now looking to increase production capacity to meet demand and expand to new retailers.
The Company is proud to announce the success of its repeat sales in the better-for-you category that have led to products being moved to the more generalized and lucrative confectionary section of the store in Walmart stores nationwide. Yumy Candy previously announced the rollout 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 its time there, the healthy candy product has seen a significant increase in sales, outpacing other products in the same category. The Yumy Bear portfolio is vegan, gluten-free and low sugar, offering a healthier alternative to traditional candy, which has quickly become a hit among customers looking for a better snack option.
The U.S. confectionery market size was valued at $198-billion (U.S.) in 2024 according to statista and is expected to expand at a compound annual growth rate (CAGR) of 2.67 per cent from 2024 to 2028. In recent years, confectioneries, particularly chocolate and candies, gummies, and jellies, have gained immense popularity among consumers across the United States. 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.
The healthy candy product is now available in select Walmart stores nationwide, and customers are encouraged to try it for themselves. With their delicious taste and health benefits, the products have quickly become a customer-favourite.
Cassidy McCord
CEO and Director
Contact Information
The Yumy Candy Company Inc.
Investor Relations
Telephone: (604) 449-2026
Email: investors@yumybear.com
Yumy Bear is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, British Columbia and it has developed a portfolio of healthier gelatine-free candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.
Cautionary Statement Regarding Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable securities legislation. The information in this news release about future plans and objectives of the Company, are forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: general business, economic and social uncertainties; local and global market and economic uncertainties arising in respect of the COVID-19 pandemic; litigation, availability of key product ingredients, legislative, environmental and other judicial, regulatory, political and competitive developments; the ability to effectively expand manufacturing and production capacity; the ability to obtain retail partners to distribute Company products, the success of market initiatives and the ability to grow brand awareness; the ability to attract, maintain and expand relationships with key strategic vendors; our ability to predict consumer taste preferences; delay or failure to receive regulatory approvals; the sufficiency of our cash to meet liquidity needs; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Accordingly, the forward-looking statements discussed in this release may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events, or otherwise.
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SOURCE: The Yumy Candy Company Inc.
