Product segmentation performance in the global chocolate confectionery market.

The global chocolate confectionery market is expected to grow at a CAGR of 2.88% during the forecast period. Based on the product, the global chocolate confectionery market has been segmented into chocolate bars, boxed assortments and seasonal variants, and others.

The chocolate bars segment comprises sub-segments such as countlines and molded bars segment. Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy Milk are the major brands of chocolate bars currently available in the market. The launch of unique chocolate flavors and textures in chocolate confectionery products and the use of attractive packaging are the major factors driving the chocolate bars category.

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Product innovations in the chocolate bars category include the development of smooth-textured dark chocolate bars, protein bars, and vegan chocolate bars, including varieties such as quinoa, sugar-free chocolate bars, and single-origin chocolate bars. Globally, the increasing number of organized retailing outlets stocking a wide variety of chocolate bars and a rise in the number of product launches are likely to have a positive impact on the chocolate bars segment of the global chocolate confectionery market during the forecast period.