During 2023 the snacks market suffered from inflationary pressures which led to only moderate growth in volume sales. Imported brands lost competitiveness due to their higher prices as constraints on disposable income made consumers more cautious in their spending and stimulated demand for products on promotion.
The snacks market in Honduras is set to register positive growth in retail sales in 2023, however this growth will be more dynamic in value than in volume terms. This will stem from ongoing inflationary pressures, due to the increase in the costs of raw materials such as flour, edible oils, packaging material and higher logistics and distribution costs.
In Honduras, most people eat three meals a day comprised of breakfast, lunch and dinner, with lunch being the most significant and largest daily meal. In the past, the typical traditional Honduran diet was comprised of starches, fresh fruit, and meat, usually in Caribbean-style dishes.
The basic food basket is comprised of only 20 products, including meat, poultry, eggs, onions, tomatoes, red beans, coffee, rice, corn, corn flour, wheat flour, fresh milk, powder milk, sugar, butter, fruit juice and vegetable juice. Although the majority of the Honduran population consumes at least some of these foods, wealthier demographics opt for higher-end brands and better-quality products.
Overall, the road infrastructure remains deficient, especially in rural areas where there are still unpaved roads and where transit difficulties often occur in the rainy season. The government is currently seeking to improve the road infrastructure through projects such as the Honduran Social Investment Fund (FHIS).
In 2023 and the coming years, the snacks market in Honduras is expected to see sustained although moderate growth in retail volume sales. Hondurans have incorporated the habit of frequent snack consumption both on impulse in small formats and when socialising at home.
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Understand the latest market trends and future growth opportunities for the Snacks industry in Honduras with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Snacks industry in Honduras, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Snacks
This report originates from Passport, our Snacks research and analysis database.
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